Dealing with the aftermath of a car accident in Charlotte is difficult, especially if you suffered injuries. Accident victims incur a lot of financial losses, which can burden them. Thankfully, you can negotiate a settlement for compensation with the insurance company for damages suffered. Hiring a Charlotte personal injury lawyer will maximize your chances of getting a higher settlement.
Most car accident cases are settled before filing a lawsuit. Therefore, it is critical to understand how to negotiate a settlement in Charlotte. Trying to navigate the process yourself is inadvisable because you may get unfair compensation.
Your actions after a car accident have a significant impact on your claim. Therefore, you should know how to emphasize the strongest points in your favor. This article helps you gain insight into how to negotiate a settlement for the injuries and losses suffered from a car accident.
How Is Car Accident Settlement Calculated in Charlotte?
The compensation you receive depends on the severity of the injury and the damages suffered. Therefore, when calculating a settlement, consider the following:
- Medical bills and related expenses
- Lost wages
- Pain and suffering
- Long term disability
- Vehicle repair
- Property damages
- Emotional damages
- Burial and funeral expenses, where the accident caused death, etc.
General Tips for Settlement Negotiations
Negotiating a settlement with an insurance company can be overwhelming. They often refuse to pay you fair compensation or make an unreasonable counteroffer to your demands.
Bear in mind that insurance companies do not have your best interest at heart when negotiating. Their priority is to limit their liability and maximize their profits. Thus, we highly recommend hiring an experienced lawyer to fight on your behalf during the negotiation process.
The following tips can guide you in negotiating a fair settlement:
Initiate a Claim Immediately After the Car Accident
When an accident occurs, it is best to initiate your claim as soon as possible. Contact your insurance company or that of the at-fault drivers immediately. That way, you can recall details about the accident and adequately report the injuries and losses suffered.
Substantiate Your Claim
It is advisable to keep documents of the accident and injuries suffered. This includes police reports, medical reports, receipts for repairs, photographs, or other records that can support your claim. Your lawyer will use these documents to build a strong case during the negotiation process. Therefore, they should be readily available to expedite the settlement.
Calculate a Fair Settlement
Before contacting the insurance company, you need to know what your claim is worth. In calculating a fair settlement, there are several factors to consider as listed above. Bearing this in mind, calculate the minimum settlement figure you can accept. Again, it is best to hire an experienced lawyer to handle this task.
Send a Demand Letter to the Insurance Company
Once you know the worth of your claim, you should send a formal demand letter to the insurance company. A demand letter is best written by a lawyer, as it shows the seriousness of the victim. The correspondence should describe the accident, injuries, losses incurred, and the amount you demand as compensation.
Upon receiving the demand letter, the insurance company will likely reply with a counter-offer. Therefore, it is best to ask for more than you are willing to accept. Also, remember to obtain every evidence to support your claim, as lack of it can prevent you from getting what you deserve.
Do Not Accept the First Offer
Insurance adjusters always make an initial lowball offer; hence, you should not accept their first offer. This tactic is used to determine if you understand the worth of your claim and how eager you are to settle. If you make a reasonable counteroffer, the insurance company will be more willing to compromise.
Get Everything in Writing
Take notes of all conversations and correspondences with the insurance company. Settlement offers should also be in writing and when an agreement is reached, ensure it is read and signed by all parties.
Contact a Charlotte Personal Injury Lawyer Today!
Car accident settlement is usually a complicated legal process. The negotiation process can be overwhelming without legal representation. Hiring an experienced Charlotte personal injury lawyer can maximize your odds of getting the best settlement you deserve.
At Ted A. Greve & Associates, our personal injury lawyers in Charlotte have hands-on experience in negotiating with insurance adjusters. We will aggressively pursue your claim and get the best compensation, especially if you have no intention of going to court. Contact us today for a free consultation.