Advice On Negotiating A Personal Injury Settlement
During the negotiations, each side gets tested by the other side. What is tested? That is explained in the following article.
What is tested?
Injury Lawyer in Burnaby knows that if you are a claimant, then you will be testing the insurance company. Your test will be aimed at determining how much money it is willing to offer in the form of compensation. At the same time, the insurance company will be testing you, as the claimant. The insurance company will be trying to discover what amount of money you feel ready to accept as compensation for your losses/damages.
Steps in the negotiation process
• The claimant composes a demand letter and sends it to the defendant’s insurance company.
• The adjuster at that insurance company responds to the demand letter. The adjuster states the weaknesses in the claimant’s case.
• The claimant responds to the adjuster’s comments
• The adjuster introduces the insurance company’s first counteroffer. This is the first test of the claimant.
• The claimant usually decreases slightly the amount of money being demanded.
• The adjuster could increase the amount of money offered by the insurer.
• The exchange of offers and demands continues until the 2 sides agree on one settlement figure.
Tricks that aim at getting the claimant to do poor job of demanding a fair compensation
The insurance company says that the claimant’s filing has been made too late. In fact, there is no deadline for the filing of a claim with the insurance company, unless something was stated in the policy.
The insurance company asks the claimant to offer details on the sources of money that have become available, prior to receipt of the payout from the insurer. None of the claimants should feel obligated to share those specific details with an adjuster.
Issues that the adjuster does have a right to raise, when responding to the claimant’s demand letter.
The question of whether or not the claimant’s automobile insurance policy provided for coverage of the sort of accident that led to the reported injuries. For instance, typical policies do not cover a cut that the car-owner received while washing that insured automobile.
The issue of who has been identified as the one that should be held at-fault. The insurer might allege that the claimant/policy holder was guilty of contributory negligence. The full extent and nature of the claimed injuries. Did it do permanent harm to the victim/claimant? An injury’s value increases if it caused a disability or a disfigurement.
The nature and extent of the treatment prescribed for the reported condition. Was it necessary? What about any techniques used to diagnose that particular condition? Were each of those necessary? Obviously, an insurer does not want to pay for an unneeded procedure.