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Insurance Claims Process: A Brief Overview on Understanding How to Negotiate Your Claims

Insurance Claims Process: A Brief Overview on Understanding How to Negotiate Your Claims

 It is commonly recognized that insurance companies can be very difficult to negotiate with. If you have suffered a personal injury and intend on filing a claim with your insurance company, you should be prepared to negotiate a resolution with the claim’s adjuster.

Settlement negotiations are a central part of the personal injury claims processes and they typically begin when the injury is reported to the insurance company. Many details must be considered before accepting or rejecting an insurance company’s settlement offer. An insured is not legally obligated to accept an insurance company’s settlement offer. However, if you do accept a settlement offer, it is important to understand all ramifications, including any rights you may be waiving in settling the case. Therefore, it is important to have your settlement agreement and negotiations performed by an experienced attorney to assure you receive the highest possible result without waiving any legal rights.

This article will provide a brief overview on the negotiation process. If you have recently been injured as a result of an accident, obtain the legal support of an attorney who has experience in negotiating insurance company claims. An experienced attorney will help you obtain the settlement offer you deserve and protect your rights. If a settlement cannot be reached, the attorney will be experienced at moving your claim forward by way of arbitration, and or a civil lawsuit.

Important Steps to Consider When Negotiating a Settlement

Every insurance company will handle a claim differently. Generally, however, the process will involve the following steps:

File the personal injury claim in a timely manner

The initial step in the claims process is notifying the at-fault party’s insurance carrier about the incident and the injuries you sustained. This process will initiate the process but it is imperative that you file the claim in a timely manner. The State of California has strict deadlines with regard to personal injury claims. If your claim is not timely filed, you will waive your right to file a claim for damages.

The implications of receiving a reservation of rights letter

After filing the personal injury claim, you will receive the reservation of rights letter from the at-fault party’s insurance carrier. This letter does not admit liability; instead, it addresses the insurer’s interest in investigating the claim. If you have questions with regard to the reservation of rights letter, seek the legal support of a knowledgeable attorney. 

Sending a demand letter to the insurer

Shortly thereafter, you will need to respond with a demand letter stating all facts about the accident. Details you should include in your demand letter include the extent of your injuries and damages you have incurred as a result of the accident.

The demand letter should also include damages you have incurred as a result of your pain and suffering.

It is important to provide a detailed and complete demand letter to receive the highest possible settlement offer. For more information regarding preparing demand letters, seek the legal expertise of an attorney. 

The insurance company’s response

Shortly after your demand letter has been received, the insurance company will contact you with an attempt to make you a settlement offer. It is likely that the insurer will undermine your claim and offer you less than what you have asked for or deserve.

Negotiating with an insurance company can require tenacity, persistence, and a great amount of patience and experience. It is important to be firm in your belief of receiving what is fair, and to accurately state your legal rights regarding compensation for your injuries. When negotiations become difficult, seek the expertise of an experienced attorney who can advocate on your behalf to provide you the greatest results.

The attorneys at the Knez Law Group are dedicated to helping accident victims obtain the financial compensation they deserve in the aftermath of an accident. They are highly experienced in the field of personal injury insurance claims and negotiating with insurance companies. If you have recently been injured as a result of a negligent party, seek expert legal advice as soon as possible.

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