Since many Connecticut drivers carry auto liability insurance, victims of motor vehicle collisions can file a claim against the insurance provider for compensation. Although the driver may have sufficient insurance coverage, it does not guarantee that the claimant will receive a settlement offer that meets their demand. Negotiating with the insurance company might be unavoidable when seeking the maximum settlement payout.
Insurance settlements and negotiations
Claimants will file a demand letter to the insurance company stating what they expect for compensation. The insurance company will require supporting evidence to accompany the demand letter, such as medical records and property damage estimates, to support claims for lost wages. Other items can be claimed in the demand letter, and this information will go to an insurance adjuster.
The insurance adjuster may attempt to negotiate the lowest amount possible. Remember, the insurance adjuster represents the insurance company and its interests. Claimants might not appreciate the initial settlement offer, and they can make a counteroffer.
Dealing with negotiations
Motor vehicle accidents could leave victims suffering from serious financial losses and pain and suffering. Many may wish to close their insurance claim without delays. However, patience is a necessity, as effective negotiations may work in their favor. Still, it could take some time to reach a conclusion.
Presenting as much comprehensive and detailed evidence about losses can help the cause. Compiling witness statements, estimates related to medical care and documentation about rehabilitation may support the specific claims made in the document. Omissions may delay the negotiations or create problems.
Those unfamiliar with negotiating with an insurance adjuster may benefit from working with a representative. The representative can handle the negotiations from a position of experience.
