What Victims Should Know About Compensation Negotiations


Knowing as much as possible about your vehicle accident case is a good idea. Your personal injury lawyer will be taking care of things like settlement negotiations but knowing something about this subject could help you when it's time to make decisions about your case. Read on and learn more.

What Happens First?

Once you have signed a representation agreement with a personal injury lawyer, they will inform the other driver's insurance company. You will keep your lawyer up to date when you get bills and claim statements in the mail or from email and they will keep you informed about anything concerning your case.

In most cases, you should wait until your injuries have reached the point of maximum medical improvement (MMI) before you and your lawyer discuss compensation. Victims should be stable so that they are paid for both their past medical treatment care and any predicted care in the future. 

How do Negotiations Begin?

Once MMI has been reached, you and your lawyer will discuss how much you are owed. All the damages from the accident are added up to arrive at a figure to include in a letter to the other driver's insurance company. The figure will be slightly higher than what you and the attorney agree will be your bottom line. Within the amount you ask for and your bottom will lie what you may be paid for your accident damages.

The letter of demand is sent to the insurer and lists your damages and the amounts owed for each. Mention is made of the evidence and documentation available to prove the numbers. Then, compensation is demanded to settle the case. Implicit is the threat to file a lawsuit if the demand is not met. This starts the negotiation process.

What to Know About Negotiations

Your lawyer will handle all negotiations for the settlement. Below is what else victims should know about personal injury negotiations:

  1. The above assumes that the other driver is at fault and that fault is not in contention.
  2. Insurers won't offer victims payment for things like lost wages and pain and suffering; they must be demanded.
  3. Personal injury negotiations often take place over the phone or even via email. The parties only meet if a court case is in the picture.
  4. In some cases, each side will learn facts about the accident previously unknown that could affect the final settlement figure.
  5. When an agreement is reached, it's put into an agreement and signed. Once that is done, the case is over.

To get more info, contact a personal injury lawyer near you.


25 October 2022

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