Article 3 of 7 in Car Insurance Claim Settlement
If filed an auto accident claim, you probably will be talking with an insurance claims adjuster very soon. The insurance claims adjuster will review the facts surrounding your auto accident claim and offer you a settlement amount to pay your damages and close the case. Once you will receive the initial offer, you will have to make a decision about whether or not to accept it, or to attempt to negotiate a better auto accident settlement agreement.
The First Auto Accident Settlement is Low
An insurance adjuster is given authority to settle your auto accident claim within a certain dollar range. No one starts a car accident settlement negotiation at the middle of their range, and the insurance adjuster is no exception! She will start near the bottom of the range as her aim is to settle the case as cheaply as possible for her employer - the insurance company. For that reason, it is unwise to blindly accept the first offer when negotiating an auto accident settlement, even if it seems like a lot of money.
TIP:Take the time to review the claim offer, and reject it to demand more if the settlement amount does not fairly pay for your damages and injuries. Remember, the first auto accident settlement offer is typically low, so do some work before you accept!
How to Value Your Car Accident Settlement
The most important thing to do before you accept a car accident settlement offer is to calculate how much your car accident claim is worth. Evaluating a claim takes skill because a lot is considered in evaluating an auto accident claim -the amount of property damage to the vehicles involved, the total amount of your medical bills, any scarring, any disability, any loss time from work, any future costs, and any other expense related to your recovery. An offer to settle an auto insurance claim too low would mean you are not being adequately compensated for all the money or pain a car accident cost you, so it is very important that you know the full value of your claim before you accept a car accident settlement offer.
Here are some tips to consider when calculating how much your car accident settlement is worth:
Assigning value to your car accident claim can be tedious and difficult, but it is critical to knowing whether or not your settlement offer is too low. Take your time and figure out the value of your claim before you make any decisions on a settlement offer.
TIP:It is also a good idea to ask your claims adjuster what they considered when they determined your car accident settlement offer. You can review the factors they looked at, and find areas where you disagree with them.
How to Respond to a Low Auto Accident Settlement Offer
If your auto accident settlement offer is low, then you will need to negotiate with your car insurance company. If this is not something you think you can handle, skip these tips and click here to contact a car accident attorney. Otherwise, keep the following in mind:
Most importantly, before you negotiate an auto accident settlement, you should know what a car insurance attorney can do for you, and when you should seek legal advice.Car accident consultations are free, so If you feel your offer for insurance claim settlement is too low, kindly decline the offer and tell the adjuster that you need a day or so to think about it. Then contact an attorney!
For more information about auto insurance claims, check out the following articles:
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