Some of this tips will help you negotiate your way through a personal injury settlement scenario right after enduring an accident. As soon as the negotiated settlement process kicks in, you must have a formidable strategy to counter. Here are six top fair settlement tips to start.
Arrive at a Settlement Amount
Draw up a settlement demand letter that gives a clear impression of what you believe is the claim due. Before you start talking with the respective adjuster, have a figure that you consider your minimum and begin slightly above as your way down in the negotiation. Do not reveal your price points to the adjuster as this will compromise your bargain.
Having a pre-determined bottom in mind helps you go into the talks from a position of confidence. This way you will not make an impulsive decision if the adjuster offers a take-or-leave scenario.
Do Not Rush to Make the First Offer
It is expected that most insurance adjusters begin by offering ridiculously low settlement amounts. At times they might deny any blame or liability altogether. With such antics, the adjuster is trying to gauge whether you understand the worth of your claim. Once they sense impatience, they will interpret that you are in a desperate situation and will go with any amount.
If the offer is ridiculously low, you should immediately walk away from any further engagement. However, if it seems reasonable yet lower than your target, throw a counter offer which is slightly lower than your original amount. This shows the adjuster that you are a reasonable person too.
Get the Adjuster to Defend Their Low Offer
First, the adjuster starts by giving you a ridiculously low offer. You can ask him to justify that amount. Take mental notes on this conversation after which write down a brief letter responding to all areas mentioned.
If you found their argument compelling enough, you can raise your letter amount to a slightly lower figure. Wait to see if they will bulge after receiving your response. Your next conversation should begin on the letter response and see what offer they give.
Lay Emphasis on Emotional Points
Strategically mention any emotional points that might strengthen your claim. For instance, in the event of an accident, refer to the smashed window pic or horrible looking injury photos. If you found a bottle of beer in the other parties vehicle, make mention in your argument.
Look out for patterns such as a record of the similar type of accidents in the same location. If the injury resulted in dereliction of your parental duties, mention them to the adjuster. None of this factors can be quantified monetarily. However, they do make for a strong emotional argument.
Await the Response
Until you receive a counteroffer, do not reduce your quoted amount to the adjuster. This is a negotiating skill every good bargainer has fostered over the years. If the adjuster still comes back with low offers, go over each one.
Listen to the arguments and offer your counter arguments where constructive. You will either arrive at a fair settlement or realize you are conversing with an unreasonable party.