If you guessed that you need to have a good strategy to get the best settlement after your personal injury accident, you’re absolutely right. You’ll have no trouble formulating the perfect settlement strategy if you follow these secrets:
1. Know Your Amount Beforehand – Make sure that you have a realistic amount in mind before you start to write your demand letter. You can and should adjust this figure as you start to talk to the defendant’s insurance company, but never go below the amount you asked for in your first demand letter!
2. Always Decline the First Offer – The first offer from the defendant’s insurance company will always be ridiculously low. It will be designed to test you to see if you’re desperate enough. Generally speaking, you can’t ask for more money once you accept a settlement from the insurance company, even if you need the money. That’s why you should always decliner the very first offer.
3. Ask the Adjuster to Justify a Lower Offer – NEVER lower your offer when the adjuster from the defendant’s insurance company offers you a lower amount. It is a ploy that’s meant to test you to see if you will fall for the gimmick. What you want to do, however, is ask the adjuster to justify (in writing and with solid reasons) why he or she is offering such a low amount of money.
4. Emphasize the Emotional Points that will Strengthen Your Case – Make sure to mention any emotional points and the evidence backing them that will strengthen your side of the story and your case when you’re negotiating with the defendant’s insurance company.
5. Wait for the Insurance Adjuster to Contact You – Always wait for the insurance adjuster to respond with a counter-offer before you begin to lower it. Who knows, the adjuster just might accept your asking amount?
6. You May Need to Hire A Personal Injury Lawyer – Yes, you may need to hire a Personal Injury Lawyer in St. Catharines to proceed further with your case or claim. You may want to do this if you perceive that the negotiations are either stalling or going as you had hoped. There are three other instances when you would want to hire a personal injury lawyer:
a. Your demands for compensation run in the several tens of thousands of dollars.
b. You are seeking compensation for future damages and/or lost wages.
c. You may be partially at fault.
7. Always Get it in Writing – Send a letter to the adjuster confirming the amount that you and he or she agrees on right away.