Insurance companies hope to make a payout that it as small as possible. Claimants generally hope to receive a compensation that is as generous as possible. Hence, the 2 sides must negotiate, in order to reach a settlement.
Negotiations normally take place over the phone
Claimants should be ready for the insurance company’s call. That means keeping pen and pencil handy. In other words, the negotiating claimant ought to take notes, while speaking with the insurer’s representative.
A smart claimant stays calm while speaking with the insurance adjuster. He or she has the ability to remain polite helps to increase that same claimant’s chances for achieving a satisfactory settlement. The person that receives the call should seek the identity of the person at the other end of the line. In addition, the individual receiving the call should inquire, regarding the identity of the insured policyholder.
During any call, the person that needs to answer an adjuster’s questions should provide the adjuster with only a limited amount of information. In other words, it is not necessary to dwell on the details of the accident. Be prepared to resist any efforts that are aimed at achieving a quick and easy settlement. If claimants’ pre-call preparations have included that of hiring a personal injury lawyer in London, then the caller from the insurance company should be urged to contact the lawyer in the future.
Suggested behaviors for those that must negotiate with an insurance company
Be patient. Make it obvious that you appreciate the large amount of work that adjusters have to deal with. Understand that a large pile of papers covers each adjuster’s desk, and not all of those papers concern matters that relate to a single case.
Be persistent. Claimants deserve an answer to their questions. An insurance company could require time, in order to obtain the answer, but the claimant’s time is valuable. He or she should not have to wait several months for the answer. Claimants’ experience has uncovered the best way to deal with an adjuster’s failure to provide a desired answer. It helps to ask for a date when the answer should be available. Then, if no reply by that specified date, it makes sense to contact the adjuster’s office.
Be honest. Evidence that a claimant’s answers were less than truthful tends to reduce the chances for a fair settlement. Such evidence provides the insurance company with yet another reason for reducing the size of the next bid. When bids stay low, there is not much chance for achievement of a large compensation. Get comfortable with the negotiating process. It proves useful during performance of certain transactions. Think back; have you negotiated with a car dealer, when buying an automobile?