How To Negotiate Injury Settlements with Insurance Policies

How To Negotiate Injury Settlements with Insurance Policies Have you recently been involved in a personal injury case? You’re likely looking to seek extra compensation and have to do so by speaking with different insurance companies. Seeking extra compensation by negotiating with insurance companies is a great way to have additional income to help pay medical bills and damages to property, as well as make up for any loss of life that may have come from your accident.  Instead of feeling lost and confused in the process of negotiations, the team at Frankl Kominsky Injury Lawyers are here to help you seek the compensation you may legally deserve. Here’s everything you need to know about negotiating an injury settlement with insurance companies. 

Why to Consider Negotiating with Insurance Companies

When you decide to proceed in your case by negotiating with an insurance company, it will require you to speak to the at-fault party’s insurer about why you deserve the settlement you are requesting. It can get dicey when speaking to the other party’s insurance company since they are fighting their own battle against you. That’s why it’s best to have a legal professional on your side to take the reins and do the negotiating on your behalf. If you’ve been wronged by another party in any way, negotiating with their insurer is a way to make sure you have enough money to reduce the financial stress of your situation. The majority of the negotiating with the insurer is done over the phone and is not too complicated. However, you could end up walking away with far less than you deserve if you don’t have the legal skills and experience to negotiate properly. Most personal injury cases will have you receive another sum from your own insurance policy to cover any damages or medical bills, depending on how much your policy covers. If your policy does not cover all the needed financial burdens, negotiating with the other party’s insurer can make up for the rest that you would have to cover. 

Steps To Negotiating Injury Settlement

The process of negotiating an injury settlement with the other person’s insurer is straightforward, especially if you have a Pompano Beach car accident lawyer working with you.  Here’s how to do it:

Discuss The Desired Amount with Your Lawyer

Before the first phone call to your insurer, you should discuss the amount you think would be adequate to be fairly compensated for your injuries. You and your attorney can work together to figure this out. The amount may not be what you were initially expecting, as this negotiation process will take time. Throughout this process, you and your lawyer may have to talk to insurance companies while your lawyer prepares a demand letter on your behalf to explain your claim and why you believe you should be awarded the amount you’re seeking for. This negotiation process may take time because you are never obliged to settle or accept the first settlement offer. Insurers will try to save as much money as possible, so their first offer may not be fair to you. This is why you and your lawyer should discuss the settlement you would be fairly compensated with, so you know how much to ask for and demand.

Listen To the Other Side

Once your initial request is made to the other insurer, you can expect them to return with their own defending statement. This statement may include why they disagree with that figure and why they believe you should be compensated lower than what you claim. You should also expect there to be reasons backed up to the amount they believe you should receive. They will make their arguments about what is wrong with your claim and point out flaws in your argument to lower the settlement. 

Counter Their Arguments, But Do Not Accept the Offer Just Yet

You will need to respond to these arguments to continue the fight in seeking extra compensation. However, you should nevertheless be cautious of the figure offered to you by the insurer. They may try to get you to settle on an amount quickly to see how rushed you are and if you will accept their lowest offer. This is why you should never accept an offer when you think it is unjust. Your personal injury attorney can help you read their proposed settlement and discuss how to proceed. 

Final Arguments with Final Settlements

After receiving an initial settlement offer, you do not have to accept it if you do not think the amount will fully compensate you for your incurred damages. Although you may concede on a few points with the advice of your attorney and obtain a slightly lower amount than what you initially asked for, you should never settle for less than what you deserve.

Hire a Legal Professional to Do The Negotiating

Negotiating with another insurer is not simple. There is a lot of back and forth in formal written claims and phone calls. To seek the maximum compensation that you may deserve, have a legal professional in the Pompano Beach, Florida area guide you through the legal process. Hiring an attorney can significantly determine how much you are awarded at the end of your case. Personal injury lawyers have years of experience and know-how to negotiate with insurers. They speak with insurance companies every day and can do so for you as well. Having an experienced attorney speak on your behalf will allow the pressure to be taken off of you and have your case handled by someone who has dealt with these companies before. Hiring a Pompano Beach car accident lawyer to negotiate for you means they will essentially do all the hard work. They will review your case, establish your claim, and do the negotiating with the other insurance company on your behalf. Before you find the lawyer in the Pompano Beach, Florida area that you want to be represented by, you should look around for a well-established firm in the area. Most firms offer free consultations where you get to walk into the office and discuss your situation in depth before hearing how the firm can assist you. You should speak with a handful of attorneys before investing in the right Pompano Beach car accident lawyer to take your case and help you seek extra compensation. 

Let Frankl Kominsky Injury Lawyers Do the Work For You 

If you’re looking for a team of experienced lawyers to handle your case with positive results, you can count on Frankl Kominsky Injury Lawyers.  Our firm has been assisting the residents in the Pompano Beach, Florida area for nearly 40 years (by appointment only). It is our goal to assist you in the best way we can, which is protecting your rights and using our skills to speak on your behalf in your personal injury case. We understand that it can be intimidating to navigate personal injury claims on your own, which is why we want to help by working alongside you. Our 40 years in the business have given us expert knowledge in knowing how these cases work and what to expect. Our team of legal professionals have years of acquired negotiating skills to help you seek the fair compensation you need to recover. When you’re ready to get started, call us at (561) 800-8000 or fill out a free case evaluation online to set up a time for your no-obligation consultation. We look forward to hearing from you and serving you in your personal injury case. Don’t wait any longer to call us and start the process of seeking your extra compensation.