Recovering from an accident can be a long and difficult process that can be made harder when the other party’s insurer refuses to settle. Insurers are in the business to make a profit, and they do so by limiting post-accident payouts. Some find it intimidating to fight for a settlement, but with preparation, there is no reason a client cannot negotiate with an insurer to get a fair payout. Below are several tips to help victims and Lawyers in Jefferson County MO negotiate with the at-fault party’s insurer.
Understand the Bargaining Process
To start, it is important for the victim to understand the negotiation process. It begins when the victim files a claim and submits a demand letter. Following that, the insurance adjuster will examine the case’s facts before arriving at a settlement offer. The victim counters the offer and the adjuster either accepts it or offers another proposal, with the process continuing until an agreement is reached.
Set a Bottom-Line Amount
After an accident, most victims have high medical bills and lost wages. Use these expenses to arrive at a bottom-line settlement figure. Regardless of the insurer’s offer, a victim should not accept a settlement offer lower than their bottom line. By having a firm number in mind, a victim can be more assertive and confident during the negotiation process.
Don’t Take the First Offer
Insurers typically extend an artificially low first offer to test the victim’s resolve and lower the potential payout. A client should not accept the insurer’s first offer, even if it exceeds their bottom-line amount. Insurers are always able to raise a settlement offer, which is why the first one is always low. The victim should be firm and wait for a higher offer to arrive.
Protect Victims’ Rights After an Accident
It can be time-consuming and difficult to negotiate with an insurer after an accident, even for those who have done it before. If a person is hurt in an accident and they need help during settlement negotiations, they need advice from a law office like the Wegmann Law Firm. With years of experience, injury Lawyers in Jefferson County MO can give victims the help and representation they need to fight for a fair settlement.