The Negotiation Phase Of Personal Injury Compensation

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If you've ended up hurt as a result of another driver's careless actions, you may be entitled to compensation. You can be paid for several areas of damage, including medical expenses, lost wages, lost or damaged personal property, a car repair, and more. To get more information about what is negotiated and how the process works, read on.

Don't Fall Victim Twice

Accident victims have to be careful not to get taken advantage of after a wreck with injuries. The at-fault driver's insurance company will want to settle things quickly to prevent you from taking legal action. Unfortunately, the insurer will very seldom offer victims enough money to cover all of their damages. It's advisable, then, for accident victims to speak to a personal injury lawyer about the accident and their injuries before they try to deal with the insurance company. Never agree to a phone interview or sign an accident release before speaking to an attorney.

Demand Your Fair Share

Once you speak to an attorney, a special letter is sent to the other side and their insurers demanding payment for your losses. The demand letter lets the other side know that you intend to file a lawsuit if you don't get what you deserve. This letter often serves as the start of settlement negotiations. Settling avoids going to court and is a lot faster.

What To Know About Negotiating

You can rest assured that your lawyer will handle all aspects of your case, including this important one. That being said, it's important for accident victims to take part in the process and have a working knowledge of how negotiations proceed.

1. Almost all personal injury settlement negotiations take place over the phone – lawyer to lawyer. Don't worry about paying for this by the hour, however, since most lawyers in this line of work will be paid according to a contingency fee plan.
2. The first offer (or counter-offer) from the other side is usually a low-ball figure to test the level of desperation.
3. If a demand letter has been sent, you can expect the insurer to counter with an offer below that of your demand. Your demand, though, should take that into account and be slightly higher than you are willing to accept to allow room for negotiating.
4. You and your lawyer will come up with a bottom-line figure that you will stick to. Sometimes, however, that bottom line has to be lowered when additional case information comes to light. For example, the other side may have a video that brings the other driver's fault into question.

To get more info about the negotiation phase, speak to your auto accident attorney.

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29 July 2020