How To Be In Better Position When Negotiating With Insurance Company?

The pre-settlement negotiations involve the sharing of demands and offers, each of which has been based on the strengths and weaknesses in the cases that have been presented by the 2 opposing parties.

What aspects of a claimant’s actions could put him or her in a better position, with respect to the insurance company?

Claimants’ ability to form in their mind a figure that should represent the minimum acceptable offer helps to put the same claimants in a better position. Each of them can do a better job of deciding on the best response to a bid from the adjuster.

Understand that the figures that form in each of the claimants’ minds can be altered, following receipt of the insurance company’s initial offer. If the company’s adjuster has pointed out an overlooked weakness in the submitted case, then the figure might be decreased as per the personal injury lawyer in Algonquin.

On the other hand, if the company’s initial bid were to come close to the original minimum acceptable offer, then a different action would be needed. The figure representing that minimum acceptable offer would have to be increased.

Refusal to accept the initial offer puts the claimant at an advantage. It demonstrates the claimant’s understanding of the submitted claim’s worth. Insurance companies cooperate more readily with those that have demonstrated an appreciation for a given case’s worth. Still, if an initial bid has seemed reasonable, then the recipient of that bid should reduce his or her demand to slight degree. That is another way to gain cooperation from the insurance adjuster.

Other helpful tactics

If the adjuster’s first bid were to be exceedingly low, then the response should take the form of a request for justification of the bid’s small size. After sending such a request, a claimant should not hesitate to seek a response from the adjuster, during the next phone call with the adjuster’s office.

Depending on that response, the claimant might elect to lower the demand slightly. Ideally, that would encourage the sending of a more reasonable bid/offer. Any effort to play-up some emotional aspect of a personal injury case should prove useful. That would include actions such as including a picture of the extent of vehicle damage in the demand letter.

Once the 2 sides have agreed on a settlement figure, the figure’s size should be stated in writing. Until the insurance company has provided the claimant-lawyer team with written confirmation of the agreement, the same team should refuse to follow-up on any request from the insurer. That would include any request that the claimant’s signature appear on a release form. A signed release form could be provided, following written confirmation from the adjuster of the agreed-upon terms for the settlement.