Tips for Negotiating a Personal Injury Settlement

Suffering an injury due to the neglect of someone else can be devastating, especially if you're unable to work or you're permanently disabled because of that injury. In a situation where you're going to need money to pay your medical bills, you might be considering negotiating a settlement with the other party or their insurance company. Before you do anything, though, consult with an Orange County personal injury lawyer to see what your case might be worth. Then, follow these tips to negotiate the best settlement possible.

Have a Settlement Amount In Mind

Even if you don't end up getting the amount of money you initially demand from the insurance company, you definitely need to have a settlement range in mind before you go into negotiations. This is where a personal injury attorney can help you determine what your case might be worth. If you don't know how much your injury could end up costing you, then you might make the mistake of demanding too small of a settlement. 

A personal injury lawyer will use their experts to calculate how much your medical bills will be, how much you stand to lose in wages, and other factors that go into determining a settlement. With their expertise and experience, you'll be able to have a ballpark settlement amount in mind when you send your demand letter. The insurance company will likely come back to you with a counteroffer, but you need a good place to start first.

Don't Automatically Accept a First Offer

Negotiation is about finding the middle ground that makes both parties satisfied with the agreement, so if you get a low first offer - and it will almost always be low - you don't want to automatically accept it. You'll want to carefully consider the amount the insurance company has offered you before you accept it or make yet another counteroffer. An attorney can help you determine if the initial settlement offer is the most you can expect to receive. If it's not, they can advise you on how much more you should ask for next.

Wait for a Response Between Offers

Some insurance companies delay making a settlement offer because they hope you will become impatient and ask for less than your original demand. Don't give in to this tactic. Wait for their offer to come in before you send a counteroffer. If you need to lean on the insurance company a bit to get them moving, a personal injury lawyer can handle this on your behalf. In fact, once you retain an attorney's services, you probably don't want to contact the insurance company on your own again. Your lawyer will know how to keep the insurance company moving toward a resolution, something you might not know how to do.

Hire an Attorney

This is probably the best tip here because a personal injury attorney is going to have more experience negotiating settlements than you are. They have probably negotiated hundreds of settlements on behalf of their clients and know how to employ the tips here and other negotiating strategies that pay off in the end. 

Conclusion

While you can negotiate a settlement for your personal injury on your own, an experienced personal injury attorney can do it much better and much faster. No matter how severe your injuries are, a personal injury lawyer can help you get the compensation you deserve.

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