Insurance companies will usually make low offers after a car accident. This is with the goal of hoping that you will accept the low offer and the insurance provider will be able to save as much money as possible. To prevent this from happening, an auto accident attorney can help.
The Insurance Policy Limit
You will usually want to sue the other party up to the policy limit for your insurance provider. If your damages are much higher than that, the driver might also be held personally liable if you file a personal injury claim against the driver.
However, the insurance provider will want to compensate you for a much lower amount than what your settlement is worth. To avoid accepting a very low settlement, you will want to make sure that you work closely with an auto accident attorney before you file a personal injury claim. Your attorney will inform you of whether the settlement offer is worth accepting and will assist you in making a counter-offer.
Recording Your Expenses
A common mistake that a plaintiff makes is to not record all of the damages they have suffered. You will want to keep all of your receipts and write down any other expenses that might be associated with your accident. This can include the damage done to your car and the medical expenses you may pay out-of-pocket and that are paid by your health insurance provider.
You should also calculate the lost wages that resulted from your accident causing you to become injured and unable to work. Your auto accident injury attorney will help you calculate the earnings you would have received if you had never become injured as a result of the accident.
The Negotiation Process
To counter the low-ball offer from the insurance provider, you will want to create a demand letter to provide to the plaintiff. Then, you will be able to counter the low settlement offer with a much higher settlement. You will want to start with the highest offer possible because this will allow you to later offer a much higher settlement that will give you more room to negotiate.
Once you have accepted a settlement offer, it cannot be undone. The party you sought a settlement from will be free from any further liability. To make sure that you receive full compensation for your injuries, hire an auto accident law firm, such as Eisdorfer, Eisdorfer & Eisdorfer, so you can make sure that your current and future medical expenses are covered.