Smart claimants know to refuse the initial offer from the insurance company, and to start negotiating with the insurance adjuster. The claimants’ strategy normally includes the performance of these other actions, as well.
An action that relates to the demand letter
While the demand letter presents a figure, namely the amount of money that the claimant is demanding, it should also be minus one figure. That second number, a different amount of money, ought to remain in the claimant’s mind. That alternate amount of money should represent the lowest of the figures that would be accepted by the victim/claimant. Claimants should expect to receive numerous and repeated offers from the insurance company. For that reason, their minds need to be prepared to reject any that happen to fall below the minimum, the lowest acceptable figure.
The claimants’ rights
Personal Injury Lawyer in Waterdown knows that if an adjuster puts forward an exceedingly low bid, the recipient of that bid (the claimant) has the right to ask for a justification of that low offer. That request should take the form of a written letter, one that gets sent to the adjuster.
The claimant’s patience should allow the adjuster time for making a response. Still, adjusters should have only a limited amount of time. Eventually, their phones should ring, and the claimant’s voice should be coming from the other end of the line. That voice ought to demand a response to the letter.
Highlighting any emotional aspects of case
The negotiation process provides the claimant with the chance to put his or her emotions in the limelight. Sometimes simply attaching the picture of a damaged vehicle to the demand letter can aid achievement of that goal. At other times, it helps to emphasize how the accident’s effects have disrupted the life of the victim’s family.
For those that must contact a governmental body, after getting injured on a poorly maintained road, a show of emotions could prove most beneficial. The contacted body should be forced to recall other accidents that took place at the same location.
Know when and how to reduce a demand
A claimant should never reduce a demand until the after the adjuster has come forward with a new offer. Naturally, the level of any reduction should be relatively small.
Know when to agree to a settlement figure
Smart claimants refuse to agree to a settlement, until their treating physician has told them that their recovery has reached the point of maximum medical improvement (MMI). Until that point, a reputable personal injury lawyer should discourage a client from signing a release form. Insurance companies always want a signed release form, before arranging for delivery of the promised compensation package to the waiting victim/claimant.