Most accident claims in California are resolved through settlement negotiations with insurance companies rather than going to court. This gives both sides a chance to reach an agreement without the stress, expense and uncertainty of a trial.
Settlement negotiations involve back-and-forth discussions with the insurer. They’ll often make an initial offer to settle the claim, and the claimant can respond with a counteroffer they believe better reflects the true value of the losses. Here’s what you need to do to protect your interests during these talks.
Understand the value of your claim
Don’t fly blind. Negotiating a settlement without knowing what your claim is worth is a sure way of leaving money on the table. Take time to understand the scope of your damages, including your present and future medical bills, lost wages and the overall impact the accident has had on your daily life. That way, you can make realistic and informed counteroffers and spot low-ball offers.
Solid evidence is your best leverage
Providing clear evidence showing the extent of your injuries and the damages you’ve suffered can strengthen your position. These include your medical records, hospital bills, doctor’s notes and proof of ongoing treatment. Documenting your losses, such as missed paychecks, repair invoices and other out-of-pocket expenses, is crucial in justifying the compensation you seek.
Understand your rights
The insurance company does not necessarily hold the bargaining chips during settlement negotiations. You have legal rights, and you should not settle for less than you deserve. For instance, you can reject a settlement offer if you think it falls short, even if the insurer says it’s the best they can do. You also have the right to ask questions and request further evaluations.
Having legal guidance during these discussions with insurance companies can go a long way in presenting a solid case and helping you secure a fair settlement.