Timothy O. McCalep

Coming to a settlement agreement after a car crash

The process of resolving a car crash claim can take a long time. Often, the best thing to do when you are trying to get the compensation that you need is to negotiate a settlement. This option is usually faster than going through a trial, but there are some points you need to consider.

As you embark on working through the car crash settlement, you need to know what to expect. This might make you cope with the stress of the process a bit better.

Demand letter

When you start your claim, you will file a demand letter. This lets the insurance company know that you demand compensation for the injuries that you suffered. Once the letter is received, your case will be given to a claims adjuster. This begins the settlement negotiation process.

Negotiating the settlement

The negotiations will put you or your representative up against a person who is skilled in the negotiating process. The claims adjuster's entire job is to settle the case quickly and for as little money as possible.

When you start the process, you need to have some amounts in mind. You have to determine the lowest settlement you are willing to accept. You also need to determine what higher amount you will start your negotiations with.

The first bid that you get will likely be a low ball offer. Don't let this discourage your negotiation process. Instead, grab your insurance policy and find out what it says. This can help you during the back and forth process.

Hurry up and wait

The negotiation process isn't exactly swift. You will need to work diligently to get through it. It might feel like all you do is hurry up and wait on the other side. The full negotiating process will likely take months. During this time, there might be accusations that you aren't as injured as you claim. Don't let this overwhelm or upset you because it is just a tactic that the adjuster is using to try to upset you.

Finalizing a settlement

Once you are given an offer you will accept, you will be able to finalize the settlement. Even though you are probably ready to get this over with, don't accept an offer that is too low to cover your damages. If you can't come to an agreement with the other side, you do have the option of taking the case to court.

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