Personal injury victims often deal with property damage, lost earnings, and out-of-pocket medical expenses. If you find yourself in this position, you may be confused as you negotiate with the at-fault party’s insurer. Instead of going through this route alone, involve a reputable local personal injury attorney who can negotiate for a favorable outcome.
The insurance firm will make a settlement offer to avoid the case proceeding to trial. However, if you fail to reach a consensus, your lawyer will file a lawsuit to recover your economic and non-economic damages.
Most insurers are fond of offering demeaning initial settlement offers. Once you accept such an offer, you have shot yourself in the leg; you cannot make any further claims or demands in the future. However, your lawyer will consider all indices before going to the negotiation table.
This piece sheds light on expertly negotiating in a personal injury case.
How Personal Injury Settlement Negotiations Work
A personal injury lawsuit can take several months before proceeding to trial. Concerned parties opt for negotiations after filing the complaint to see if they can settle the issue amicably.
Fortunately, more than 95 percent of personal injury cases end in settlement. Agreeing to a settlement offer means you have decided to let go of every legal claim.
Despite most cases ending through the settlement pathway, the process can still take months of negotiations before consenting to a settlement value. Identifying the guilty party and the amount of damages can take some time when the case starts. All parties will have an informed idea of the liable party(s) and the value of their claim.
Generally, insurers often have a low initial offer. They will try to play games to avoid litigation expenses. However, they will sit up once you involve a knowledgeable personal injury attorney.
Your lawyer will continue with the negotiations until trial. Some parties settle their case on the day of trial.
“Most parties prefer settlement due to the expensiveness of trials and unpredictability of juries. Thus, a settlement agreement is a smart way of escaping the many problems of a jury trial,” says personal injury attorney Ronny Hulsey of Smith Hulsey Law.
Tricks That Insurers Adopt During Settlement
Insurance companies prioritize profit-making. Thus, they give less credence to your injuries and losses and will attempt to maneuver you to pay less.
They have numerous negotiating tricks and gimmicks to force you into accepting a demeaning offer. They have dealt with several accident victims, so they know most victims’ weak points. Their gimmicks include:
- Feigning support for you and your losses
- Attempting to use your words against you
- Taking undue advantage of your need for money to make a quick and demeaning offer
- Engaging private investigators to gather proof against you
- Unrealistic deadlines to resolve the issue
- Luring you into a quick settlement before engaging an attorney
Insurers are selfish but will make their settlement offers appear as if they are doing you a favor. It is their stock in trade, so you should not hesitate to engage an enthusiastic personal injury attorney after your injury. Most attorneys have matching negotiating skills to deflate insurers’ tricks.
What If The Settlement Offer Displeases You?
Insurance firms usually make lowball initial offers, hoping unsuspecting victims will fall for it. Such demeaning offers are usually insufficient for your medical needs. Reject the offer if it displeases you.
Your lawyer will probably start from this; they will begin their negotiations based on what the company offers. They will then make a counteroffer, which will likely lead to a lot of back-and-forth.
Most lawyers start with a request letter. Then, the insurer responds with a low offer. The attorney replies with a counteroffer, and the process continues until the parties reach a consensus. This process may take several months.
When You Should Accept a Settlement Offer
You must consider some essential factors before accepting a settlement offer. These include your damages’ total value (lost wages, medical expenses, and future medical needs), the defendant’s negligence, the strength of your case, and your desire for a quick settlement.
You may proceed to trial if you have a potent case and wish to hold the defendant accountable for their negligence. However, you may accept a low offer from the adjuster to avoid the stress of litigation. Your lawyer can enlighten you on your options and the likely outcome.
How an Attorney Can Negotiate Your Personal Injury Claim
The best way to counter an insurer’s lowball offer is to engage a reputable attorney to help you get the maximum offer available. They will help you focus on recovery while they deal with the insurance company.
Your attorney can forecast your claim’s value after a thorough analysis. They will keep you informed as the case proceeds.
