How To Achieve Success When Negotiating For A Settlement

First, appreciate the action that signals the start of the negotiating process. That action does not get carried out by some insurance adjuster. Instead, it gets performed by the policy holder that makes a claim and then writes a demand letter. That letter should contain a monetary figure, one that represents the size of a reasonably small settlement.

The adjuster’s response to that letter

The adjuster calls the policy holder that wrote the same letter. The adjuster and the policy holder share the strengths and weaknesses of the accident victim’s claim. After considering those same strengths and weaknesses, the victim (policy holder) comes forward with a counter offer.
That series of events, the making of the offer, the response and the making of a counter offer gets repeated at least 2 or 3 times. The insured victim might feel as though he or she has been drawn into a vicious circle. Yet at precisely that point the insurer will send the same victim what is known as a revelation of rights letter.

The second letter’s contents

Insurers use such letters to assure an accident victim that the investigation linked to that same victim’s claim has begun. The letter’s arrival does not represent a promise of money. Instead, it seeks to make clear the fact that any money that might be owed to the letter’s recipient will be granted that same adult, following the completion of the investigation.

Unwritten rules that the insurer expects a victim with a claim to follow

• Any demand should be reasonable.
• Do not hesitate to ask an adjuster to justify any low offer. You have a right to request such a justification.
• Take the time to study the justification made by the adjuster. Respond to the adjuster’s statement by sending another letter. If the adjuster does not respond to that particular letter, the victim has an excuse for calling the same adjuster.
• Whenever communicating with someone that works at the insurance company, always focus on the points in your favor.

Action to be taken by victim, once the two sides reach an agreement

Exactly what the victim understands about each aspect of the agreement needs to be placed in a written statement. Once it has been written, that same statement must be sent to the adjuster. The statement’s appearance lets the adjuster know that the victim awaits an expected award. That is one of the reasons that accident victims need to hire the services of an injury lawyer in Trenton.
Ideally, it also sends a second message. It should include a date when the statement’s author (the victim) will be expecting arrival of the settlement documents. The victim’s written statement can call for a show of “good faith” on the part of the insurer. In other words, it can demand delivery of the promised compensation.