How to Maximize an Auto Settlement
It was not your fault, but you were involved in an auto accident that left your car destroyed and your body injured. Maybe you broke a bone, needed surgery or suffered soft tissue damage that doesn't show up on an x-ray but certainly shows up as daily pain. In addition, you missed work as you recovered from the accident and injuries. The question now is how do you make certain you receive the full compensation you are entitled to? Follow these steps to keep the insurance adjuster honest.
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Things You'll Need
- Medical bills
- Medical records
- Invoice for car repairs
- Proof of lost income
- Proof of other damages
Instructions
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Maximize Your Auto Settlement
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1
Gather copies of every medical bill you incur in connection with your injuries, including those from physicians, clinics, surgical centers, anesthesiologists, physical therapists, radiologists and chiropractors.
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2
Gather copies of all medical records that are related to treatment you received for your auto accident injuries.
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3
Obtain a statement from your employer that verifies your salary and how much work time you missed due to your injuries and recovery.
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4
Add up your total medical expenses and multiply that number by four. This is the amount of damages you will claim for your pain and suffering.
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5
Add up any other damages you can relate to the accident, including such things as compensation for your inability to perform household chores or compensation if your injuries caused you to miss any important life events.
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6
Prepare a written letter to the insurance company of the driver responsible for causing the accident. Your letter should describe the accident and include documentation supporting each of your damage claims as described above.
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7
Mail the letter to the insurance claims adjuster.
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Tips & Warnings
Taking the steps above will create a strong foundation to support your claim for damages. Attaching documentation of all of your damages will build value into your claim, which in turn increases the potential for a maximum settlement. Sometimes a demand letter is sufficient to push a claims adjuster to settlement, but sometimes it is not.
You should rarely, if ever, accept the first offer made by a claims adjuster. You should always counter at least one time. Claims adjusters rarely make an offer that equals their maximum approved payout. By presenting a counteroffer based on the documentation in your demand letter, you can increase the settlement amount. The amount of your counteroffer will vary depending on whether you are anxious to settle quickly or whether you are willing to wait it out for a higher amount.
References
- Photo Credit wrecked car image by hazel proudlove from Fotolia.com
