An effective negotiation strategy is critical to getting the personal injury settlement you want. A lot goes on at this stage, with negotiation styles changing from one claims adjuster to the next, but the same basic framework always applies.
No matter how confident you are with your negotiating skills, it's wise to study up on how the insurance claims process works and plan your negotiation strategy.
Adjusters can throw some tricks at you. Sometimes they even break rules. During settlement negotiations you'll be the one policing
them and ensuring they don't engage in any bad faith practices.
If things still go wrong, you may have to take your claim past the negotiation stage. This is where you may end up going through alternative dispute resolution, or getting a lawyer and going to civil court. You should know about these options right from the start.
Negotiation Steps on the Way to Settlement
There's not a lot to the actual settlement negotiation process. The majority of claims are handled the same way, and the steps will be similar in most situations. Understanding this framework is essential.
Negotiate with Patience and Persistence
When negotiating your claim there are many factors to consider. To maintain control of the situation you should adopt the traits of patience and persistence. Having both will help negotiations go smoothly.
Negotiation Styles of Insurance Claims Adjusters
The insurance adjuster's negotiation style will likely differ from your own. Many factors can influence your communications. Remember, you have a lot riding on this claim, but to them you're just another file to close.
Confidentiality, HIPAA, and Requesting Medical Records
Your medical treatment and therapy records are the foundation upon which you'll build your claim. You'll need to request your medical records to prove your injuries and costs. We show you how to do it properly.
How to Organize Your Paperwork
Getting all your documentation organized in a clear and logical manner will do wonders for your claim. Having every piece of information at your fingertips is a negotiation strategy that will not only impress the adjuster but make you feel more in control.
Rejecting the Adjuster's Settlement Offer
During the course of claim negotiations you'll receive several settlement offers from the adjuster. You need to know how to formally reject the offer and make a counteroffer. Learn how to do it here and get a sample rejection letter.
No-Fault Insurance and Other Reasons for Claim Denial
Your personal injury claim might get denied. No-fault insurance and insufficient coverage are two common reasons for denials. Know your rights under no-fault laws and other situations when your personal injury claim may be denied.
Identify Bad Faith Tactics
There are bad faith denials of claims and other shady practices the adjuster may use that are far from fair. This section looks closer at some of these unfair negotiation strategies and how to effectively deal with them.
Options When Your Negotiating Strategies Fail
If the insurance negotiations don't end in a fair settlement offer, you can take things a step further. This section looks at some of the other ways you can get compensation for your injuries.
Alternative Dispute Resolution Methods
If your settlement negotiations don't work out there's a good chance you'll wind up engaging in some form of alternative dispute resolution (ADR). The two main forms are mediation and arbitration, but you can also file a lawsuit in small claims court.
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