Insurance companies exist to make money and are in the business of paying out as little on claims as possible. Unfortunately, they often take advantage of car accident victims who attempt to settle without legal representation.
An experienced Hamburg, NY car accident attorney can provide invaluable guidance throughout the legal process. Here are a few reasons why it would be wise to avoid settling with an insurer on your own:
Make Sure You’re at Fault
Before agreeing to any settlement offers from insurance companies, it is wise to consult an Atlanta car accident lawyer who can review your medical records, bills and a detailed analysis from a doctor about your injuries before determining whether they are fair.
Insurance companies know that most people do not hire lawyers and take advantage of this fact by offering low settlement amounts and pressuring injured victims to accept an early offer before it’s too late.
To receive the compensation that is due, it will be necessary for you to demonstrate that another party owed you a duty of care, breached it and caused your injury and loss of monetary damages. Proving these elements requires evidence such as medical records, bills or witness testimony, so be prepared for a long negotiation process.
Once you understand the extent of your injuries, make a counteroffer to the insurance company showing them how much their negligence cost you. If they decline, consider filing a lawsuit against those at fault; but be mindful of time limits because if they pass you will forfeit any right to pursue compensation; these begin on the date of your accident.
Make a List of Damages
First and foremost, take the time to assess any monetary damages you’ve sustained as this will enable you to establish the amount that you should demand from an insurance company. A great way to do this is by writing down all expenses associated with an accident – from car repairs and medical bills, lost income due to time off work due to missing work etc – in addition to considering any future costs due to injuries suffered from your collision.
Note that certain damages cannot be accurately calculated. These general or non-economic damages can be difficult to put a monetary value on. Therefore, having an experienced attorney on your side who can assist in calculating the true value of damages becomes even more essential.
Hire an attorney as they can manage all paperwork, communications and negotiations with the insurance company on your behalf and can advise what other legal measures may be available if an agreement cannot be reached.
Asserting that you can negotiate directly with an insurance company without an attorney can be an expensive and dangerous mistake, since you could end up settling for less than you deserve. Insurance companies use various tactics to coerce victims into accepting less than they deserve; such as telling them that hiring an attorney would drag out their claim in court or simply trying to lowball you.
Write a Demand Letter
Unless you opt for legal representation from an attorney, if you decide to go it alone with an insurance company, an effective demand letter is your most powerful weapon in their fight. A quality one will include elements such as these.
Provide an account of what happened, including police report and photos of the scene and damage, injuries sustained and losses sustained, demand compensation using medical records or documents as proof (both economic and non-economic damages must be included in your statement of loss), injuries sustained and losses suffered (this should include both economic and non-economic losses).
At all times it is crucial that your tone remains professional. While the accident and injuries may feel personal to you, insurance companies view them as just another case. Furthermore, avoid making threats against them in any form; doing so could only reduce their willingness to settle with you.
Once an insurance company receives your demand letter, they will review it over several days or months and then contact you to discuss a possible settlement agreement. It is imperative that they review all medical records and diaries at this stage.
Rather, if the insurance company refuses to offer you an acceptable settlement, you will need to file a lawsuit. Be prepared with all relevant paperwork and knowledge of pain and suffering law when filing. It may be possible for you to handle this without needing an attorney; however, having one on hand could prove invaluable when filing claims and negotiating settlements for damages.
Don’t Accept the First Offer
After being involved in a car accident can be extremely distressing; medical bills, vehicle repair costs and lost wages must all be factored in. Insurance agents only compound this stress further – take your time in reaching an agreement with them rather than accepting their initial offer immediately.
Insurance companies sometimes make low settlement offers in order to save themselves money, knowing that many people will be too afraid or overwhelmed to fight for a fair offer. Furthermore, they may try and push their offer upon you before you have time to consult legal advice and review it carefully.
One reason not to accept the first offer from your insurer may be that it does not cover all your damages. An insurer typically only pays out maximums per policy, which are unlikely to cover everything associated with your damage. Working with a public adjuster can help assess all losses and negotiate more satisfactory terms from insurers.
Finaly, do not accept an initial offer from an insurance company because they’re using litigation as leverage against you. They know if they go to court they could end up paying much more than they’re offering now, which may make you desperate for money and more likely to accept lower offers quickly in order to settle quickly. It is essential that a lawyer negotiate on your behalf to receive an offer which covers all damages sustained.
Take Your Time
Attaining an equitable settlement when dealing with an insurance company requires being patient and taking the time needed. Insurance companies are focused on money and will do whatever it takes to convince you to settle for less than what your case deserves. One common strategy used by them to accomplish this goal is lowballing; individuals without legal representation tend to take offers quickly so they can move forward. They know this because without an advocate on board, victims may feel pressured into accepting whatever offer comes their way in order to receive payment and move on with life quickly.
Take your time in determining the value of your case; doing so will give you a clearer idea of its true worth. Calculating the worth of an accident can be complicated and involve multiple considerations such as medical bills, lost wages due to being unable to work and any other costs related to an incident. Document all expenses as much as possible as this will strengthen your claim and provide evidence.
At times, it may be possible to locate an attorney who works on a contingency basis – meaning you only pay them when your case wins – however this option may not be best suited for most individuals. Experienced Hamburg, NY car accident lawyers possess both knowledge and skills that will allow them to successfully advocate on your behalf to secure maximum compensation.
