If you are ever involved in a car accident in Florida, the state’s law gives you the right to full recovery for your losses caused by the accident. Florida is a no-fault state, therefore it does not matter who is at fault. You should expect your insurance provider to cover the costs for you. Let’s see tips for negotiating your car accident settlement.
Depending on the insurance policy you have and the terms of the policy that apply, your insurance company should pay you everything that you deserve. While it is natural for you to expect the insurance company to pull through, the chances are that they will not be too eager to pay out a fair settlement for your car accident claim.
Insurance companies generate their revenues by collecting the insurance premiums they receive from all their clients. Paying out generous amounts to cover the losses of their customers does not benefit their bottom line. Unfortunately, it means that insurance companies have a financial incentive to minimize payouts or even deny legitimate claims.
You can try to negotiate with your insurance company and make a strong case for a better car accident settlement. However, going up against a big insurance company that routinely handles such cases might be an overwhelming experience that does not always end with a fair outcome. You may just need to work with a car accident lawyer in Florida to negotiate with the insurance provider to seek a fair settlement with the help of an expert.
There are certain tips you can take to make sure that your negotiations with the insurance company are productive and professional. This post will share some of the most useful tips for negotiating your car accident settlement to help you seek fair compensation for the losses you have and will incur due to the accident.
10 Tips for Negotiating Your Car Accident Settlement
Here are some of the top tips for negotiating your car accident settlement with your insurance company that can help you seek fair compensation to cover your losses.
1. Value your damages properly
The first tip to negotiate a fair settlement for your car accident with the insurance company is to know what you’re going to negotiate for with them. When you are involved in a car accident, there are various types of damages that you can claim according to Florida’s injury laws. You should carefully value all the damages you may be able to claim.
Some of the different types of damages you can claim include medical bills, property damage, lost wages, rehabilitation services, pain and suffering, and much more. You don’t want to ask for an excessive amount, but you also don’t want to leave anything out. Having an honest assessment of the value of your claim can help you prepare for negotiations for a fair settlement.
2. Identify what you want to recover and how much you’re willing to accept
It is important to take the time to think about what you want to recover from the company for the losses you’ve incurred. You should think about what amount would be fair as a settlement for your car accident and the amount that would make you financially compensated. You should also determine the lowest possible amount you would be willing to accept.
However, do not tell the insurance provider’s representatives what your settlement goals are. Your goal is to seek the maximum possible amount that fairly compensates you for the losses you’ve incurred and may reasonably incur in the future. Having your settlement goals in mind when you start negotiations gives you a way to evaluate any offers that your insurer makes.
3. Do not react with anger to their low offer
In an insurance claim, the insurance company wants to pay out as little as it can, and the claimant wants to obtain the maximum possible amount. This means that the first offer you are offered will most likely be an unfairly low amount. It is important that you don’t allow their lowball offer to surprise you.
They are only using this as a tactic to see if you will take the bait and settle for far less than what you deserve. Do not react with anger and keep your composure at all times.
4. Note down your strongest arguments
Insurance adjusters make a living off of saving a huge amount of money for the insurance companies they represent. Negotiating with these experienced professionals can be intimidating, and you don’t want to forget any of the compelling points you have to make a strong argument.
Write down the most important notes about what you feel are your strongest points in the negotiations. It can also possibly help you consider how you will respond to some of their arguments against your case.
5. Have documentation of damages ready
Save all the receipts, bills, and information about lost work. You might need to obtain a document or note from your employer that verifies you missed work and copies of your pay stubs. All the financial documentation can be critical for you to negotiate your car accident settlement with the insurance company. This could help you prove the losses you want to claim and make a compelling argument in your favor against the insurance company.
6. Conduct yourself professionally
Insurance adjusters use all kinds of tactics to reduce the settlement they have to pay to people making insurance claims. Lowball offers might just be the tip of the iceberg. They may sound unreasonable, be insufferable, and do their best to get to you.
However, you should make sure that you keep your composure and act completely professional. Conducting yourself respectfully despite their tactics will show that you are very serious about doing whatever is necessary to seek a fair compensation for your claim.
7. Practice patience when you get an offer
Do not be too eager to respond immediately after you are offered a settlement from the insurance adjuster. Furthermore, if they provide you with an oral offer, you should ask them to put it in writing and send it to you formally, in writing.
Responding too quickly to a settlement offer will give the insurance company the message that you are desperate to receive money. They might try to use this to their advantage and force you to settle for much less than you deserve.
Practicing patience in responding to their offers will show that you are willing to work as long as it might take to seek a fair settlement.
8. Do not assume that your case will settle
While most cases settle, you should not immediately assume that your case will. When you assume that your case will settle, you might not care as much about gathering crucial evidence to make a stronger case.
If the insurance provider receives the hint that you are not carefully preserving evidence, they might take it as a sign that you will never let the case go to court and gradually accept a lowball offer.
You want them to think that you are willing to take the case to court, unless they offer a fair settlement for your car accident claim and have them take your case seriously.
9. Keep an eye out for delays
One of the tactics that insurance companies try to use is that they start delaying your case without giving you proper reasons for doing this. If they try to deny your claim for meaningless reasons that do not make sense, or if they tell you that your case is under investigation without showing you any progress, they may be acting in bad faith. Be very skeptical of your insurance company and start preparing to take action in your negotiations.
10. Call a lawyer if they begin to stall
Working with a personal injury lawyer in Florida could be the best way for you to negotiate with your insurance company to seek fair compensation for the losses you incurred due to an accident.
Frankl Kominsky Injury Lawyers specialize in helping their clients deal with personal injury cases. The meticulous attorneys will help you negotiate your car accident settlement with insurance companies who are always keen to deny PIP insurance claims for their clients. Working with a qualified and experienced firm to file a lawsuit for insurance denial can help you better understand the details of your case. The firm can determine the best course of action and fight the claim on your behalf to help you seek the compensation you deserve.
Based in Palm Beach, the lawyers from Frankl Kominsky Injury Lawyers have several years of experience helping their clients recover the damages for injuries they have suffered in accidents, whether it involves the at-fault driver’s insurance company or yours. If you’re looking for a West Palm Beach injury lawyer, working with Frankl Kominsky Injury Lawyers can help you build a strong case and negotiate the maximum possible settlement for your car accident claim with the insurance company (by appointment).
