Negotiating more money from your car accident injury claims is really difficult. The reason it's so challenging is because you will be dealing with a tough and prepared negotiator; the auto claims adjuster.
However, you can still increase your personal injury settlements by following 5 key negotiation tactics.
The first thing you should do is...
1. Figure Out Your Minimum Car Accident Injury Settlement
Before you begin negotiating with the auto insurance adjuster, determine exactly what is the lowest settlement offer you're willing to approve. This is something you should keep to yourself and not share with the car insurance adjuster.
Anytime you negotiate with someone, you should know what is your bottom line figure. By already having a minimum amount, the adjuster won't be able to bully or push you into a "take it or leave it" decision. Having a minimum figure will prevent you from making a rash final decision that you may regret later.
Of course, this doesn't mean you should just accept your lowest settlement amount. To avoid getting a low car accident injury settlement you should...
2. Never Accept the First Auto Accident Settlement Offer
Auto insurance adjusters are well known to give their lowest car accident settlement offer first. The adjusters blatantly give you a low settlement offer to see how you respond. They want to see how desperate and anxious are you to settle your claim quickly?
The first offer is certainly not the last offer. It is basically an attempt by the insurance companies to pay you as little as possible. And since a lot of people are unaware of these negotiation tactics, many people unfortunately accept the low first offer. Not understanding that there was more money still left to work with.
When you are given an offer by the insurance company, ask yourself the following question: Is this settlement offer unreasonably low?
If you are convinced that the car accident settlement offer is unreasonably low, you should....
3. Demand an Explanation for the Low Settlement
Whenever you are given a very low auto accident claims settlement, the auto insurance adjuster is examining how determined you are to negotiate a higher settlement. When this happens, you should ask the claims adjuster to explain their reasons for such a low settlement.
If the adjuster's explanation doesn't make sense ( ex: he/she didn't show you were responsible for the car accident or that your injuries weren't that serious) then this is just a bluff. You should refuse their offer.
If you have to slightly adjust your settlement demand, make sure you...
4. Gradually Decrease Your Settlement
At several points during the negotiations, you'll need to lower your initial settlement demand in order to move forward. A good range to lower you settlement is between 10%-20%. This is a nice range because
it's not significantly lower than your original demand and it shows you are willing to negotiate.
Since the adjuster will continue to lower you settlement, its best to decrease your demand in small increments. This protects you and also helps move the negotiations forward.
The final thing you need to know is that you should..
5. Avoid Over Reducing Your Settlement Demand
As you try to negotiate your car accident injury claims, the adjuster will try to reduce your initial demand. Negotiations only work if both parties are willing to budge from their initial personal injury settlement demands.
However, any time you slightly lower claim, it's essential you wait for the claims adjuster to offer you a slightly better settlement as well. You should never lower your car accident injury claim again until the adjuster increases their original offer.
If you keep cutting your settlement demand without receiving a better offer, your claim will appear weak. This makes it look like you're just guessing and unclear about how much your claim is worth. The insurance adjuster will keep pushing your claim further down until you give up and accept a low settlement.