Don’t Accept a Car Accident Insurance Settlement Until You’ve Read this Article!
If you’ve successfully filed your car accident insurance claim and are working with your insurance company to resolve your claim, you will likely be offered a car insurance settlement offer. Do not accept an offer until you know it is enough to cover the damages you are owed! Insurance companies do not want to settle the full value of car insurance claims, and it is likely your first offer will not get you the money you deserve after a car accident. Before you sign any settlement offer, this article offers you the tips you need to ensure you are getting the money you are owed.
If you have received a low settlement offer from the insurance company which does not cover the cost of your injuries and car damage and you are concerned that you are not going to get the money you deserve, contact the Chris Johns Legal Group for a FREE car insurance settlement consultation today!
How to Know when your Car Insurance Settlement Offer is Too Low
Before you even contact the insurance company, it is critical that you know the full value of your car accident insurance claim! Calculating the value of a car accident insurance claim can be complicated. You will need to carefully track all your medical expenses, your costs of repairing the vehicle, and any other expenses and losses that you suffered because of the accident. Carefully review the following article before you start the claim process:
If you have properly calculated the value of your car accident insurance claim you will be able to tell whether the insurance company has come to you with a claim settlement offer which does not provide you with the money you deserve.
Negotiating a Claim Settlement with the Insurance Company
If you have received a settlement offer that is too low, you will need to negotiate with the insurance company to receive the car accident settlement you deserve. Working with a car insurance company can be frustrating and challenging because you will typically be negotiating with an adjuster or a representative of the company who has a lot of experience going through the process. The following tips will help you as you negotiate your claim settlement:
- Remain calm and polite throughout the process. Car accidents and car insurance settlements will likely cause you to get emotional about your financial recovery. This is understandable; however, it is best if you remain calm while you speak with an insurance adjuster. Be polite, but firm, and avoid losing your cool during negotiations.
- Keep your conversations about the facts. As you speak with car insurance adjusters about your settlement, do not offer more information than you are asked. For example, if the adjuster asks about your injury, do not tell him / her how you are feeling. Instead, respond only with the information that you have received from the doctor, do not elaborate.
- Maintain 100% accurate records. The aftermath of a car accident will produce a lot of documentation, particularly if you have suffered a moderate to severe injury. Keep track of every document, invoice, email, letter, and take detailed notes during phone or in person conversations. Your best advantage during a car accident claim settlement negotiation are the facts which support your claim value – so keep accurate records of all the costs associated with your car accident injuries and vehicle damage.
- Understand and don’t be afraid of your alternatives. Do not feel like rejecting an unfair car insurance settlement offer will result in you not getting the money you deserve after you have suffered injuries in a car accident. You can pursue mediation, arbitration, or even a lawsuit to receive financial compensation for your injuries. If you pursue these options, it is a good idea to talk to a car accident attorney with the Chris Johns Law Group before you go forward!
If you are nervous about negotiating with the insurance company for a fair settlement, attorneys of the Chris Johns Law Group are experts at insurance claim negotiation. For more information about the firm, read through the following article:
What to Know about your Car Insurance Settlement Offer Before You Sign
If you feel like you have reached an acceptable car insurance claim settlement agreement, there are a few final items to review before finalizing the settlement offer:
- Know exactly how much the settlement is worth. This should be obvious, but it is a good idea to double and triple check the full amount of the settlement before you agree.
- Be wary of any conditions of the insurance settlement payout. Some settlement contracts can change or even been rescinded if you fail to live up to conditions of the agreement. Be sure to ask if there is anything that can cause the insurance company to cancel the settlement agreement!
- Understand the terms of your settlement: Your car insurance claim settlement agreement will detail how the money is paid out, who receives the money, and when you will receive payment. For example, you could receive the money all at once or in a structured settlement, or the money may only be paid out after you have spent out of pocket expenses on medical bills or car repairs. Read the terms carefully to determine how you will receive the insurance settlement.
- Be sure that there are no other injuries or damages no covered in the settlement: It is difficult to predict the lingering effects of a car accident injury, but before you sign your insurance settlement agreement do the best you can to receive a prognosis from your doctor which will help you estimate the ongoing costs of your injury. Along those lines, make sure you talk to your mechanic about any future costs of damage to your car. Your settlement agreement is final, so make sure all future costs that you can estimate are covered!
With very rare exception, the car insurance settlement agreement you sign will be final and you cannot seek additional money from your insurance company! Before you sign the settlement offer, make sure it pays you the money that you need and deserve. If you have any questions about whether or not you’ve received a fair car insurance settlement, contact the attorneys at the Chris Johns Law Group for a FREE consultation before you sign!