Help Us Help You: Settlement Negotiations
This blog post is part five in an eight-part series designed to help you understand how our office strives to best serve the needs our of clients and what you can expect as a client of the firm.
The fifth step in handling your claim is to negotiate a settlement with the insurance company to ensure that you are fairly compensated for the injuries you suffered. This involves discussing the value of your claim with the insurance adjuster through a series of offers and counteroffers.
First, we receive an initial offer from the insurance adjuster, based on his or her evaluation of the documentation of your claim submitted to them by our office. Our office then contacts you to discuss the initial offer and your expectations.
Second, we respond to the adjuster and negotiate the settlement offer. This step often involves making a counteroffer based on our evaluation of your claim and your expectations. Often, the adjuster will request additional information to support our evaluation of your claim, which our office then prepares and provides.
Third, we work with the adjuster until we are able to agree upon a fair amount to compensate you for your injuries. Once we are able to agree upon a dollar amount, we obtain final settlement authority from you.
Finally, once we receive authority from you, we finalize the settlement with the insurance adjuster. If we are unable to reach an agreement, we then proceed to litigation and prepare to file a lawsuit on your behalf.
Visit our website next week for part six of the Help Us Help You series.