negotiate a settlement with an insurance company after a personal injury

How to negotiate a settlement with an insurance company after a personal injury?

Table of Content

Negotiating a settlement with an insurance company after being hurt in an accident can be challenging. Below are a few steps you can take to help ensure you receive a fair settlement offer:

  1. Document Your Injuries and Medical Treatment
  2. Calculate Your Total Expenses
  3. Submit A Demand Letter
  4. How to Negotiate
  5. Hire an Attorney

Document Your Injuries and Medical Treatment

When negotiating a settlement, keep track of all the money you spend on prescription drugs, doctor visits, and other healthcare-related expenses. To document the extent of your injuries, consult with a doctor as soon as possible following the injury and make any additional appointments that may be required. Retain copies of all medical bills, including those from the hospital, for prescriptions and any other costs related to your injury. Maintain a thorough log of your symptoms, pain tolerance, and further details about how your injury has affected your daily activities. It would be best to ask the medical professional who treated you for copies of your medical records, including any x-rays, lab findings, and other test results. Take pictures of any apparent wounds, such as bruising, cuts, scars, and damage to the surrounding environment or nearby vehicles. Finally, get written testimonies from witnesses to the accident regarding what they saw and heard. This can help back up your claim for injuries. 

Calculate Your Total Expenses

Negotiating a settlement with an insurance company requires you to determine your post-personal injury expenses. First, count all medical costs associated with your injuries, such as those for doctor visits, hospital stays, prescriptions, and other services. Next, determine how much money you have lost due to your injury. This covers any time absent from work as a result of the injury as well as any lost future wages you anticipate. Subsequent, determine the cost of maintenance or replacement for any of your property harmed in the collision, such as your car or personal items. Add any additional expenses incurred due to your injuries, such as those for home care or child care as well as travel to and from medical visits. You can also be entitled to damages for your suffering, which can be harder to measure. To assist in deciding on the proper amount, speak with a personal injury lawyer. Once you've determined your overall costs, base your settlement discussions with the insurance company on this sum. Remember that the insurance company can try to provide a lower settlement amount, so be ready to bargain and back your claim with facts.

Submit A Demand Letter

Start the letter by addressing it to the insurance provider for the person or entity that caused your accident. In the opening paragraph, describe the accident concisely, mentioning the time, place, and people involved. Next, describe your injuries thoroughly, including any medical care you've received and any potential ongoing treatments. After that, indicate the total cost of your accident-related expenses, including medical costs, lost wages, property damage, and other incurred costs. Provide a particular monetary figure that represents the settlement you are requesting. This sum should be determined based on the overall expenses you have calculated. Add evidence supporting your claims, such as medical bills, records from the doctor, or police reports. Establish a time frame of generally 30 days for the insurance company to provide a substantive response to your demand letter. Express your desire to negotiate a reasonable compensation to your insurance provider.

How to Negotiate

After you have suffered a personal injury, negotiating a settlement with an insurance company can be challenging and intimidating. Be sure you have complete knowledge of your case and total expenses before starting any talks. Bring to the negotiation all necessary supporting papers. It's crucial to have realistic expectations for a settlement. Remember that the insurance provider wants to keep costs to a minimum and might not agree to your initial request. Start by asking for more money in the settlement than you anticipate. This allows you room to go back and forth. Pay close attention to the counteroffers and objections made by the insurance company. Try to comprehend their viewpoint and solve any issues that could be raised. Throughout the negotiation, maintain composure and professionalism. The negotiation process can be harmed if you become emotional or aggressive. Be prepared to make concessions to come to a proper agreement. Think about alternatives like a structured settlement or a one-time payment. If you cannot resolve the situation with the insurance provider, consider hiring a personal injury lawyer from Forward Law Group. They will handle the negotiation process and have your interests represented by them.

Hire an Attorney

Start by looking up local lawyers who primarily handle personal injury cases. This requires you to search for lawyers that have a successful track record and experience with cases that are comparable to yours. Next, make an appointment with each potential lawyer after you've identified them. Several lawyers offer free consultations where you can discuss your case and ask any questions. During the consultation, ask inquiries regarding the attorney's background, rates, and case-handling strategy. Inquire about their success history and previous negotiations with insurance firms. Pay attention to how well the lawyer communicates with you and listens to your concerns. Personal injury lawyers frequently take cases on a contingency fee basis, which means they only get paid if you prevail. Ensure you know the attorney's payment terms. After meeting with a few lawyers, consider your options and pick the one you believe best suits your case. Sign a written contract defining the range of the representation, the costs, and other crucial information. 

Forward Law Group - The Right Attorney Suited to Your Needs

Our lawyers at Forward Law Group have a successful track record and experience with personal injury cases. They have sharp communication skills and know how to listen to your concerns. With their experience, your mind will be put at ease and your interests will be represented with the utmost professionalism. We will fight to get you the compensation you deserve. You can contact us without hesitation today at (818) 471-8389!