after an accident, you will need to assess your injuries to know how much you have suffered. After the assessment, you and your lawyer will write a demand letter to the at-fault or their insurance company demanding compensation. Sometimes, the company may respond to your letter with an unfair settlement. The steps you take after that will determine if you get fair compensation. Here is what you need to do.
Stay Calm and Evaluate the Offer
When responding to a low settlement offer, it can be a big mistake to involve your emotions. Additionally, it will also be a mistake if you accept the low offer because you are in dire need of money. Instead, take some time to calm down but don’t forget to observe the personal injury settlement timeline. Keep it professional with the adjuster and let the lawyer do their job. Remember, the first offer is the beginning of negotiations.
Write the Response
You can now write the response if you think you are calm enough. We advise calling the adjuster first to know the root of the low offer. Try to evaluate their answer to know how much evidence you need to add. The low offer may be because you did not provide enough details of your injuries and losses. If you did not include damages from pain and suffering, ensure you do it this time. Include every information you might have omitted in your first request. It is crucial to work with a lawyer to know what additional details you should include in your response.
Create a Counteroffer
When writing the response, you will also come up with your counteroffer. Avoid making it too high, and remember to maintain professionalism the whole time. Create a reasonable amount depending on the damages you have incurred and what you think should be compensated. Don’t be afraid to go back and forth with the insurance company. It is part of dealing with a personal injury settlement. In short, negotiate professionally and only accept an offer when you feel it is worth enough to cover any expense that may come up even in the future.
Don’t Accept the Settlement Until You Heal
Never accept an offer from the company until you have fully recovered or know the extent of your injuries and damages. Accepting the offer relieves the burden on the company. That means the company is not responsible for any injuries or expenses that may appear later. Therefore, if you have to accept an offer, ensure it is enough to cater to the costs of the damages. Accepting the settlement is a sign of release, and you can never file a claim again in the future.
The Takeaway
After an accident, you need compensation to cover the loss and injuries you incur. However, dealing with insurance companies is not always a simple task. If the company gives you a low first offer, follow the tips mentioned above and make sure you use an attorney’s expertise. The professional will help you through negotiations and ensure you get a fair settlement.
