As soon as the personal injury settlement negotiation begins, you have to make sure to have an effective strategy in place. Here are some settlement tips to help you formulate a strategy.
Having a specific settlement amount in mind
It is necessary to figure out your claim worth when putting together a personal injury settlement demand letter. Be sure to have a minimum settlement figure in mind before speaking to an adjuster. You do not need to reveal this figure to the adjuster.
However, you do not have to cling to that specific figure. The adjuster may bring forward some points you hadn’t considered before, but they might make your claim weaker. In such a scenario, you will have to agree to a lower minimum settlement. The adjuster can suggest a settlement close to the minimum figure you have in mind. At that time, you may find some points that make your claim stronger for an increased settlement.
Reacting to the first offer
The adjuster will offer a very low amount as a part of the negotiation process. by doing so, he or she will try to figure out what your claim is worth. If the amount is reasonable, you can make a counteroffer that is just a bit lower than the amount mentioned in your demand letter. This way, the adjuster will know that you are a reasonable person and that you are willing to negotiate. You will not have to bargain much to get to a final settlement amount that you both consider fair.
Getting the adjuster to justify a low offer
During the first conversation, the adjuster will make an offer so low that it seems a negotiating tactic to see if your claim is genuine. That is why it is unwise to lower the amount you put in the demand letter immediately. Instead, you can ask the adjuster to give reasons for the low offer. Depending on the reasons, you can lower your claim slightly. However, it is best to see whether the adjuster can negotiate a bit further.
Emphasizing the emotional points
During the discussion, mention any emotional points going in your favor. For instance, you can refer to a photo of the smashed car or a severe injury sent to your adjuster. You can also refer to the possibility of alcohol consumption if there was a bottle of beer found in the driver’s car. Remind the adjuster if similar accidents had occurred at that location in the past. Also, mention your inability to take care of your child as a result of the injury. Mentioning all these factors can help you get fair compensation for your loss.
Waiting for the response
Ensure not to reduce your demand more than once until your adjuster puts forward some solid reasons to do so. Do not reduce your demand twice because that’s a way to lose in the bargain.
Evaluate every reason your adjuster puts forward to encourage you to lower your demand. After going through every factor, you will either get a reasonable offer, or you will find that no reasonable offer is coming. At that point, you can try some legal options to put additional pressure on the coverage company.