subject: How The Negotiation Process Works With Insurance Company [print this page] Most of the insurance companies knows that victims will not represent nor hire an attorney immediate after an accident to claim compensation. So the insurance companies prime opportunity is to convince the victim to sign forms turning over medical records and give statements about the facts of the accident and their injuries during negotiation process. So try to submit a demand letter to the insurance company immediately to start the settlement negotiation process.
You need to notify an insurance company with an organized demand letter and the proper supporting documents whether you have a personal injury claim, were in a car accident, or on receiving end of medical malpractice. Your claim negotiation process will probably consist of nothing more than a few phone calls with an insurance claims adjuster.
After you notify about the claim of an incident, then the insurance company takes the first step to set up a claim file and assign a claim number to that file and assign a insurance claims adjuster to your case. The insurance adjuster is responsible for monitoring the claim and has authority to settle damaged property and the bodily injury part of the claim. Mostly injury claim get settled after the medical treatment is completed.
Many factors determine how long the negotiation process takes, and insurance companies are never in a hurry to lose money. The insurance adjuster does the overall job to get you to sign a full release of all your claims for as little money as they can get you to accept. During the first call with the insurance adjuster on negotiation process, you and the adjuster will each make your points about the strengths and weaknesses of your claim.
During negotiation process, the insurance adjuster will compare your accident damages and injuries to others they have negotiated. The insurance adjuster search out and find as many weaknesses in your case to make you get you to accept for lower amount than what you requested in your demand letter. Then after two or three phone calls you are made to agree on a settlement figure somewhere in between.
During negotiation process with insurance adjuster, you must try to be calm, listen to the adjuster. Try to express any emotional distress caused by injuries you have to the insurance adjuster. Make a journal
during these discussions to ensure both your talking points and the adjuster's have been taken into consideration when a settlement amount is offered. If the settlement amount is much lower than expected then you can take further action to send a counter-offer with slightly higher than the adjuster's amount to avoid prolonging the negotiation process.
Then after completing the discussions with insurance adjuster during negotiation process, send a written statement to the insurance adjuster by mentioning the agreed insurance settlement amount, brief description of injuries, emotional pain and suffering or other items covered by the settlement amount and the date you expect to receive the settlement.
by: JStephen
welcome to Insurances.net (https://www.insurances.net)
