In personal injury cases, there is a good chance that you will have to deal with insurance adjusters to reach a compensation settlement. This usually involves some form of negotiation, a back and forth process that may require numerous demand letters and phone calls before a settlement is agreed upon. This article will outline five things that insurance companies do not want you to know when it comes to negotiating.
1. Insurance companies want to give you as little money as possible – Insurance adjusters will do whatever they can to lessen the amount of money you receive for your case. The less money they give you, the more money they make. While adjusters will seem to empathize with your situation and talk in a reassuring tone, they will devalue your case in very subtle ways that you will not even realize. They are trained to ask certain questions that will hopefully lead you to answer in a way that undermines the value of your personal injury case. So before entering into the negotiation phase with an insurance adjuster, be aware of THEIR position to give you less money.
2. Insurance companies do not want lawyers in the picture – Insurance companies know that when you hire a lawyer, you will likely be getting more money. Because of this, insurance companies will try to get you to settle without legal representation by assuring you that lawyers are not necessary. A great personal injury attorney will work to your favor by making sure that you are properly compensated for your injuries, as well as pain and suffering.
3. Insurance companies will lie to you – Because insurance companies want you to walk away with the least amount of money as possible, they will tell you that you cannot be compensated for neck injuries if you had neck problems prior to the accident. This is far from the truth. Lawyers know that whatever injuries you sustained from an accident, you are entitled to be compensated for them.
4. Insurance adjusters are professional negotiators – Adjusters will use phrases that make them sound absolutely authoritative about what they are saying. For instance, an insurance adjuster might say: “after analyzing your medical bills, we are only able to offer you half.” Or, “After an attorney takes his fee, you will not do better than this amount.” These phrases are meant to sound absolute, when in reality they are not. Remember, adjusters want to give you the least amount of money and will make statements that make you believe that they can only offer you a certain amount. Do not let them. Be aggressive and stand firm on the settlement amount that you calculated before the negotiation even started.
5. Insurance companies have millions to billions of dollars set aside collecting interest – In the case of a major financial catastrophe, insurance companies have financial reserves set aside that are often filled with millions of dollars. This money is only growing from interest. Because of this, they have the money to compensate you, but will still do everything in their power to make your settlement as small as possible.
Before you start negotiations with an insurance company, always remember that their adjusters are trained to devalue your personal injury claim by getting you to agree to smaller settlements. Contact an experienced personal injury attorney who knows how insurance companies work and will stand up for your claim. The attorneys at Bighorn Law know how to get you the compensation you deserve and will fight for your justice.