Life can come with its share of unpleasant situations, making it essential to always be well-prepared. One great way to do this is through insurance, which acts as a safety net during situations like car accidents. With recent data suggesting that approximately 36,000 car accidents occurred on US roads, knowing how to negotiate with your insurance company is crucial. Getting what you’re owed after such an incident is your legal right, but many insurance companies are not always eager to settle. Fortunately, this article offers some practical insights for navigating the whole accident settlement process using the five tips below.
- Understand how insurance companies work
Knowing and understanding your insurance company can help make the negotiation process easier, as you’re well-prepared and have an open mind. This way, you’ll be on your guard throughout the settlement process, knowing what kind of offers to expect and how to respond. When your insurance company sees you know your stuff, the chances of you both coming to a more favorable agreement are higher.
- Never admit fault
Here’s the golden rule when conversing with your insurance representative – never admit fault for the accident. Although some may subtly nudge you into taking some blame, it’s crucial to hold your ground. If possible, consult with legal experts before meeting with your insurance representative. Fortunately, reputable accident lawyers can prove helpful with their expertise to ensure you’re well covered on all sides and reduce your likelihood of saying something that will make you liable.
- Be confident in your negotiation
When it comes to settlement, be ready to throw your ideal amount on the table, and make sure it’s a tad higher than your rock-bottom number. The adjuster is likely to play the negotiation game. Stay calm, stand your ground, and fight for what’s yours. With a bit of finesse, you’ll lock in a settlement that suits you just fine. Remember, having the right car insurance from the get-go puts you in the driver’s seat when it’s time to make your claim.
- Avoid speculation
During phone conversations with your insurance adjusters, it is vital to avoid sharing opinions about your accident, injuries, or recovery. Stick to the cold, hard facts of your case. This way, you’ll avoid saying more than necessary and guard against falling into any potential bait your adjuster may offer to gain information they can use against you. Remember to stay sharp and factual.
- Initiate the claims as soon as possible
If you find yourself in a fender-bender or any car-related accident, dont drag your feet – initiate the insurance claim as soon as possible. The first 24 to 48 hours are golden hours for reporting, and the quicker you file, the faster they can kickstart the claims process. Your insurance provider will swoop in, assess the damages, and grab all the details while everything’s still fresh. Some policies might have their clock ticking, so a glance at the fine print won’t hurt. Being later in making claims might negatively affect your coverage or benefits.