If you are filing a personal injury claim due to a vehicle accident or an injury due to some other reason, or if you are filing a medical malpractice claim, you first need to submit a demand letter to the insurance company representing the individual or business, you are filing a claim against.
Demand letters tell your side of the story to the insurance company and you submit it along with any proof that you have. After a few days, you will probably receive a call from a claims adjuster who is in charge of your file. He or she will work with you to reach a settlement amount to compensate you for your personal injury claim. Once you agree to a settlement, your claim will most of the time be granted in order to avoid going to court. But keep in mind that it doesn’t always go that smoothly.
Explaining Negotiations Process more thoroughly
From the time the claims adjuster makes contact with you until you have signed the documents and sent them back, there are so many things that can go wrong. Your claim will be reviewed by experts in the field who have knowledge and experience. Your demand letter will need to be very strong in order to avoid being denied or rejected. You also need to send in proof of your personal injury with your demand letter in order to provide proof of your claim. The conversation between you and the claims adjuster could last three or four calls before a settlement is reached that please both parties.
Reservation of Rights
If you have received a Reservation of Rights letter from the insurance company that you filed a claim to, don’t allow this letter to intimidate you. This letter is sent to inform you that the insurance company has received your letter and is now in the process of investigating the claim you filed. It goes on to say that the insurance company does reserve the right not to issue any payment to you if the deciding results of your claim are that the accident that you received is not covered under the policy. This letter protects the insurance company from starting a claim that the insurance company is protected from.
How to Determine your Settlement Amount
It takes time to put together your demand letter. You should have already been thinking about how much your personal injury has cost you; work, doctor visits, restrictions and limitations due to injury, the inability to do simple everyday tasks. You need to make sure that you are compensated for the time since the accident but you also got to consider the time going forward. Before you speak to any claims adjusters on the phone, you need to have figured out your minimal amount that you can and will accept. Remember, their first offer is going to be as low as they can get by with. That is why it is important to hire the services of personal injury lawyer in Chatham and allow them to handle your case.