Accidents can happen to anyone any time. That’s why it’s important to understand the process behind claiming the necessary compensation and how it works.
Although hiring a trucking injury lawyer in Denver can help with filing a case, it’s still important to know the basic principles behind it, including how to negotiate for a final settlement. Here are some pointers on what you have to remember about settlements to help you get started:
Think about the settlement amount
When you’re trying to create a settlement demand letter, you need to have an idea on the range you believe your claim is worth. You have to decide on the minimum settlement amount before you try to speak to an adjuster about it. Although both sides have an idea on how much the settlement value might be, neither side knows how much the exact amount will be.
Do not settle at a first offer
It’s a standard procedure to offer a low settlement amount once the negotiation begins. When the first offer is made, your initial response should be based on whether the offer is reasonable or not. If you feel that the offer is reasonable, you may try to create a counteroffer that’s a bit lower than what’s stated in your demand letter. According to All Law, doing so will show the adjuster that you are being reasonable as well.
Ask the adjuster to justify the reason behind the low offer
Once the adjuster offers you a low settlement amount, do not immediately lower the amount stated in your demand letter. You may ask the adjuster to give you a reason why they resulted in such a low offer. Based on an article by NOLO, you have to ensure that you have all the supporting documents and see if you can work the amount.
Coming up with a settlement agreement is best done with a lawyer beside you. It’s best to carefully think things through so you won’t make a grave mistake soon after.