Effectively Negotiating a Car Accident Settlement

A car accident settlement can be an alternative to going to court and having a jury decide the amount of damages to which you are entitled. When you accept a car accident settlement, you have to give up any future claims from the car accident and sign a release of liability. Therefore, before you agree to any car accident settlement, you want to make sure that it provides you with all the compensation you need and deserve. To maximize your chances of getting a fair settlement, it is also important to understand how to effectively negotiate.

Tips for Negotiating a Car Accident Settlement

Negotiating a car accident settlement can be tricky business, but here are some tips to help:

Hire an attorney: Your lawyer is an expert negotiator who knows the law in your state. He can help to make the insurance company realizes you are serious about protecting your rights and he can help to get you the best offer possible. He can make sure you aren't treated unfairly, and he also speaks the language that the insurance company's attorney's will be speaking, so you won't be at a disadvantage as you would be if trying to go-it-along.
Send a demand letter: Instead of waiting for the insurance company to make you an offer, you tell them what you expect. That way, when negotiations start, they will be starting form your number, not the insurance companies
Keep careful records: The stronger your evidence, the more afraid the insurance company will be that they will lose in court. Document all your medical bills, any pain and suffering you experience, and any evidence you can remember from the accident. Not only will this information make the insurance company nervous about you prevailing in court, but you can also add up what you've actually lost to make sure the settlement covers it.
Know what the law entitles you to: If you went to court, you'd be able to get damages for pain and suffering, medical bills, lost wages, and emotional distress if you won your case. Make sure you don't leave a lot of money on the table by accepting a settlement that doesn't account for these damages.
Know the full extent of your injuries: If something later turns out to be more serious, you can't add on damages for it after you've already accepted a settlement.

Getting Help

Your attorney can interface with the insurance company to negotiate the best deal possible. Make sure you don't sign anything without having it looked over by a lawyer, because once you give up your right to sue, you can't go back.

Have an Accident Claim?