Tips for Negotiating in a Personal Injury Settlement

A car accident or slip and fall can leave you with expensive medical bills, lost wages, and property damage. A personal injury lawsuit can help you recover damage to pay for your losses. Instead of going to trial, the insurance company may make a settlement offer.

The initial settlement offer may be too low for your damages. Your attorney can negotiate to ensure you get the compensation you deserve after an injury accident. For more information on settlement negotiations, talk to a personal injury lawyer for legal advice.

How Do Personal Injury Settlement Negotiations Work?

When you file a personal injury case, it can take months before it goes to trial. After filing the complaint, the parties negotiate to settle the case before it goes to trial. Most accident claims are settled before they ever go to court. A settlement agreement is a guaranteed offer for releasing all legal claims.

Even though most cases are settled, it can still take months of negotiations before they can agree on a settlement value. When the case begins, there may be little information about who is responsible and the amount of damages. Over the course of litigation, the parties have a better idea of who may be liable and the value of the injury claim.

The initial insurance claim offers will generally be low. The insurance company is willing to settle for a small amount to avoid the cost of litigation. After you hire a personal injury attorney, the insurance company will take your case more seriously.

Settlement negotiations continue up until trial. Cases are even settled on the day of the trial. Settlement can be better for all parties. Trials can be expensive, and juries can be unpredictable. A settlement agreement can avoid the time, cost, stress, and unexpected outcome of a jury trial.

What Settlement Tricks Do the Insurance Companies Use?

The insurance companies are out to make a profit. They have no interest in ensuring you get a fair settlement if they can get away with paying less. They also have much experience dealing with accident victims. They have negotiating tactics and tricks to try and get you to accept a low settlement offer. Some of the insurance adjuster tricks include:

• Pretending like they’re on your side
• Making a quick and easy settlement offer because you need the money
• Try and use your words against you
• Arbitrary deadlines to settle the case
• Use private investigators to gather evidence against you
• Try to get you to settle before you talk to a lawyer

Insurance companies are very good at negotiating and making settlements favorable to them. They do it often. If you have been injured, contact an experienced personal injury attorney immediately so you have someone with negotiating skills to match the insurance company’s.

What If You Don’t Like the Settlement Offer?

The insurance company often makes a lowball first offer, hoping you will accept it. Most of the time, this won’t even cover your total medical expenses. You may not like the settlement offer and don’t have to accept it. Your attorney will likely treat this as a starting point. This is just the beginning of the settlement negotiations.

Settlement involves a lot of back-and-forth offers and counteroffers. Your attorney may start with a demand letter. The insurance company responds with a low initial offer. Then the negotiations continue with counteroffers until they reach a settlement agreement. It can take months before the insurance company finally makes a fair offer.

When Should You Accept a Settlement Offer?

There are several factors you should consider in accepting a reasonable settlement amount. This includes:

• Total value of your damages (medical costs, lost income, and future medical treatment)
• Strength of your case
• Defendant’s negligence
• Interest in a fast settlement

You may want to go to trial if you have a strong case and wish to ensure the defendant is held accountable. However, if you want to avoid the stress of a trial, you may be willing to accept a lower offer from the claims adjuster. Talk to your attorney about your settlement demands.

How Can a Lawyer Negotiate Your Personal Injury Claim?

The insurance company has experience negotiating to lower their costs. A personal injury attorney also has years of experience ensuring you get the maximum settlement available. An experienced attorney can deal with the insurance company so you can focus on recovery. Your attorney can go through the negotiation process, advise you on the value of your claim, and keep you up to date on settlement negotiations. For more about personal injury settlements, contact an experienced personal injury attorney.