If you’ve ever seen the game show ‘Deal or No Deal’, you’ve probably gotten wrapped up in the excitement and suspense of watching a contestant face decision after decision to hang on to a ‘sure thing’ deal that they see in front of them or continue to test their luck by holding out for another yet-to-be-revealed deal that may in fact be better (or worse!) than the one currently in front of them. The suspense is terrible and will likely have you yelling at the screen before it’s all over.
After an accident resulting in an injury or damage to yourself or your possessions, negotiating a fair settlement might feel somewhat simple. Have I covered all aspects of the damage? Does the injury have greater implications than I can see right now? Is there anything I don’t know about?
Before settling with an insurance company after an incident, here are a few things to keep in mind:
Keep initial conversations brief.
Avoid jumping in to too much details early on. If you find yourself being badgered by an overzealous adjustor looking to settle, you may even consider suggesting that your communications be handled in writing.
First offers are typically low, just to see if you understand what you are doing. There is always room for negotiations that are backed up with reasonable facts.
Consider asking the adjustor to justify his offer. This will help you better understand his position and allow you to better counter-offer.
Clarify your position and communicate it. Have a good understanding of the significance of this issue in your mind and be prepared to articulate it clearly. It would be wise to have a thorough grasp on the extent of the damage and the reality is, you probably won’t have that understanding right away after the incident.
Then, be willing to bring those things to the attention of your claims adjustor. If it’s easier for you, you can submit it in writing so that your words can be carefully chosen and presented.
All in all, settling with an insurance company quickly might not be your best course. The law office of Denney, Morgan, Rather, Gilbert is here to help you navigate these types of negotiations. To set up a consultation, simply contact our law office in Lexington. We can be reached by phone at 859-908-1274.