How to Negotiate a Personal Injury Claim With an Insurance Company
If you were injured in a personal injury accident, you may be entitled to compensation for your injuries as well as for the pain and suffering caused by those injuries. If the negligent party was covered by liability insurance, then you must negotiate your settlement with the insurance company. If you are not represented by an attorney, a few steps exist that you should follow to attempt to negotiate your settlement yourself.
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Instructions
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Request detailed bills and a narrative report from all medical providers. A narrative report should include, at a bare minimum, your original diagnosis, the treatment you received and your prognosis for the future.
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Obtain proof of any other expenses incurred as a result of the accident. This may include repairs required on your vehicle, an estimate for personal property damaged or destroyed, and ambulance or transportation bills.
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Ask your employer for a letter stating how many hours of work you missed as a result of the accident and what your rate of pay is or the amount of salary you lost.
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Make copies of all documents gathered to support your claim.
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Total up all your direct expenses, such as medical bills, repair costs and lost earnings.
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Calculate what you believe is a fair and reasonable amount to settle your claim. Individual states vary with regard to whether or not you are entitled to noneconomic damages, or what most people refer to as "pain and suffering." If your state allows you to recover pain and suffering, you must determine how much to add to your direct expenses for pain and suffering.
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Draft a demand letter. Your demand letter may include additional information but should include at least the following: a summary of the accident; the basis on which you claim the insured party was negligent; a total of all your direct expenses; a synopsis of your injuries and the prognosis for the future; and the amount you are requesting to settle your claim. Include copies of all documentation with the letter.
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Consider any counteroffer made by the insurance company. In most cases, the insurance company will not accept your first offer but may offer you a counteroffer to settle your claim.
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Tips & Warnings
No magic formula exists for determining what your pain and suffering is worth. If your injuries were serious or are likely to result in permanent damage or pain, then your pain and suffering damages may be worth more than if you suffered relatively minor injuries.
State statutes regarding what damages you may be entitled to collect can usually be found online, at a local library or through a law school.
You should consider consulting with an attorney before you attempt to settle a personal injury claim yourself, particularly if you suffered serious or permanent injuries.
In most cases, once you agree to a settlement and release the insurance company from liability, you cannot reopen the claim even if you are diagnosed with additional injuries at a later date.
