So you succeeded in proving that the defendant was at fault for your accident and injuries. However, you’re yet to face the hardest part in a personal injury case—dealing with the liable party’s insurance company.
In most cases, the insurance provider will offer you a low settlement that doesn’t match the economic costs you’ve piled up. Also, there’s the emotional suffering the accident injuries caused you. A lowball settlement offer is like an insult to you. Luckily, you don’t have to accept it.
But how to respond to a low settlement offer from the at-fault party’s insurer? This article will guide you on dealing with a low settlement offer, revealing the tricks and tactics insurance companies apply, ultimately getting you the compensation you deserve.
Steps to Follow in Responding to a Low Settlement Offer
If you’re wondering how to respond to a low settlement offer, you and your injury attorney can follow these steps:
1. Remain Calm and Polite
In most cases, receiving a low offer can instigate emotional reactions. However, it would help if you remained professional and polite as you negotiate with the insurance claims adjuster.
Although they may use bad-faith tactics or try to take advantage of you, don’t give in to temptation and yell at the adjuster. Yelling won’t favor you and may even lower the chances of landing the compensation you deserve.
An attorney is best suited to handle your case so that you don’t come off as an unreliable witness and handicap the process of negotiating for a settlement. Chances of success are higher.
2. Table Your Questions
You can respond to a lowball settlement offer by asking several questions. It’s your right to know why the insurance provider undervalued your claim the way they did. When emailing or calling the adjuster, have clear and specific questions to ask them. Put them to task to explain precisely why they undervalued your claim.
If the claims adjuster denies your claim, they’re legally obligated to give convincing reasons. Only then can they guide you on how to come up with a more informed and appropriate counter offer.
3. Give All the Facts
If your injury documentation was incomplete, you need to fill it exhaustively when responding to a low offer. Include all your injuries, lost income, medical expenses, and any other damage. All these will act as evidence, adding support to your claim.
With more evidence, your claim will be stronger. Be sure to have complete documentation that backs up the amount you believe you deserve as reimbursem*nt for your damages. Having all the paperwork makes it hard for the insurer to table an argument for a lower compensation amount.
4. Develop a Counter Offer
Besides rejecting the low settlement offer formally, you need to come up with a counter offer. The new offer shows the reasonable amount you deserve for the damages. With the help of your attorney, this should be easy to develop.
Note that you’re allowed to make several offers as long as they’re lower than the minimum amount you’re willing to accept. If the parties cannot agree, you and your attorney can head to court. There, you can reach a permanent agreement for a settlement.
5. Respond in Writing
Let your attorney draft a written response to the low settlement offer, indicating you rejected the offer. It’s not advisable to communicate this over the phone. Communication should be in writing.
In case you head to court, documents will come in handy. In your writing, point out areas in which you are not in agreement with the evaluation of the claim adjuster, giving reasons. Support this with evidence, including your updated medical bills, proof of lost income, police reports, and non-economic damages such as emotional trauma, pain, and suffering.
6. Only Settle When Fully Healed
If there is one mistake you can make, it’s to accept a settlement before you complete the healing process. You shouldn't settle until you know your total past, current, and future medical bills, non-economic damages, and wage loss.
Only after determining the total cost of your injury can you accept a reasonable settlement offer. You won't be able to file the personal injury claim again to get extra money after you accept the offer and sign a release.
Selingo Guagliardo Can Help With Your Low Settlement Offer
Now that you know how to respond to a low settlement offer, you don’t have to accept it. You deserve more after everything you’ve gone through with your injuries.
If you need to dispute insurance claims in Kingston, PA, we can help. One of our personal injury attorneys can help you negotiate, and with our expertise and experience, you stand to receive a justifiable amount.
