The one thing that you’ll notice about any personal injury settlement is that a lot of negotiation and haggling will take place. You and the defense know everything about the case. The only thing that you don’t know is how much the defense is willing to give as a settlement amount. Similarly, the defense has no idea about the amount that you want as a settlement. It is good to discuss the nitty gritty of the case and claim with your lawyer and let them do the talking with the defendant’s team.
Most settlement negotiations follow this similar pattern:
● You send a demand letter that asks for a high amount
● The insurance adjuster uses evidence to refute your amount
● You make a response
● The insurance adjuster tries to low ball you
● You send another demand letter with a slightly lower amount
● The insurance adjuster increases the initial offer slightly
● If you don’t accept this amount, the cycle continues.
You must be well prepared (have all documents ready) if you want to have a good chance of getting the settlement that you want and need. Your Scarborough personal injury lawyers will help you with the production of evidence, documentation and all that is needed to ensure a strong claim is presented.
When do you and the defense start to negotiate?
Well, you, the defense, and the insurance adjuster will start to negotiate as soon as the insurance adjuster receives your demand letter. You’ll generally hear from the adjuster within two weeks of sending your first demand letter. Usually, they will not agree to your demands and present a new amount as compensation, which would be much lower than what you have asked for. Then the negotiations start.
Don’t worry if you get rights of reservation letter
The defendant’s insurance company will probably send you rights of reservation letter. This informs you that the company is investigating your accident but is not legally obligated to pay if the defendant’s insurance policy doesn’t cover the nature and scope of your accident. Don’t be intimidated by this letter and be tempted to accept the first and lowest settlement that the insurance adjuster offers you.
What to do when you don’t hear back from the insurance company?
Call the insurance adjuster and ask for a solid date that he or she will get back to you by. If this doesn’t work then you may have to call the adjuster’s supervisor and complain. Let your lawyer deal with it professionally, without overstepping the legal boundaries. This will ensure that the rights steps are taken to ensure that you are awarded with the rightful amount as compensation.