Whether you got injured in a car crash or you are hoping to get some settlement following a medical malpractice claim, negotiation is one aspect of the transaction you will not be avoiding, and since it has a direct impact on what you ultimately end up with, it is imperative to horn your skills so that you get the upper hand during the talks.
The negotiation process is likely to commence after you submit a demand letter to the insurance company, in addition to all the proper supporting documents. In most cases, the negotiations will be over the phone, and probably with the insurance claims adjuster. But the medium of the negotiations don’t matter and nothing should change if you were to decide to hold it physically at an agreed location.
The basic principles still remain the same, and the outcome you get should not be any different because the negotiations were done over the phone. Presented below are a few tips and tricks to help you get a fair settlement for your injuries:
Have an amount in mind before you commence the negotiations
By the time you are writing your demand letter, you should already have in mind what you think your claim is worth. You should have in a mind the minimum figure below which you will not accept anything offered by the insurance.
This figure should only be known by you, and so you don’t have to share it in the demand letter or even let the insurance adjuster know about it during the course of your negotiations. But as you approach the negotiations with a figure in mind, it is important to remain flexible and consider the course taken by both parties during the negotiations.
For example, if the insurance adjuster proposes a lower figure than what you were willing to accept, then they point to you valid reasons why they think that would be a fair amount, and in your evaluation, you think that you might have missed some important considerations which gives credence to the adjuster’s claims, it is okay to soften your stance on the minimum figure you were willing to accept.
Don’t make the first offer and don’t accept the first offer
You may not be a professional negotiator but you should know that you will be negotiating with people who have made a career out of negotiating. There are chances that you may meet a cunning adjuster who might give the opportunity to say the offer you had mind as worth your settlement. This is a trap and you should never fall for it.
The adjuster is probably trying to trick you into making a low offer, which they will capitalize on to ensure you even get a lower settlement. If you are faced with such a situation, simply remind the adjuster that it is them to give you an offer to consider. If you really have to give an offer, then make it so huge to immediately cut the adjuster to size and compel them to get going with the negotiations.
In the same manner, never accept the first offer given the adjuster. In most cases, they will start with very low offers for the settlement or they might as well deny responsibility and claim that they have nothing to offer. This is the adjuster’s way of trying to figure out if you really have an idea of your claim’s worth, and they are also trying to figure out if you are desperate for the money and willing to take anything. When the first offer is made, you should strive to find out two things-:
- It is a reasonable offer, but lower than what you were hoping for, and,
- Is the offer too low and just a ploy by the adjuster to try and figure out if you know what you want?
If you feel the offer is reasonable, then you can counter it with another one which is slightly lower than what you stated in the demand letter. This will give the adjuster an impression that you are a reasonable guy and you are willing to make some compromises in the negotiations. And while you carry out the negotiations, don’t be tempted to revisit the facts of the case again. Just keep drumming that it was the insured who was at fault and you deserve the settlement you had indicated on the demand letter.
What are the justifications for a low offer?
If the adjuster gives a low offer, before you give a counter offer which is slightly lower than what you indicated on the demand letter, put the adjuster to task in justifying the low offer. Let them give you clear and concise reasons why they think your settlement should be that low. While he gives the explanations, make notes and respond through a letter, punching holes on each justification if you feel they don’t hold any water. If you feel the adjuster has given strong reasons for the low offer, you still don’t have to accept it, but you can then give a counter offer that is slightly lower than what you indicated on the demand letter.
Use the emotional points to your favor
While you go about negotiations, be sure to take advantage of any emotional points to give more strengths to your claims. For example, if you had sent to the insurance company some disturbing photos taken at the scene of the injury, make reference to them and request the adjuster to have a look at them as you negotiate.
Again, if at all a bottle of alcoholic drink was found in the at-fault driver’s car, refer to it again and remind them of the possibility of the at-fault driver being under influence at the time of the crash. We are all human, and touching on such emotional points may soften the heart of the adjuster and you may end up with a better settlement.
If you feel you don’t have what it takes to successfully negotiate a better settlement, you can always use the services of attorneys to help you secure a commensurate settlement. Check out grapeleafcapital.com if you need help with attorneys or you are interested in pre-settlement funding to get you some financial reprieve as you recover from your injuries.
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