Personal injury lawyers play a pivotal role in negotiating settlements with insurance companies. These negotiations are often complex and require a deep understanding of legal principles, medical terminology, and the art of negotiation itself. The primary goal is to ensure that the injured party receives fair compensation for their injuries and other damages.
The process begins when a personal injury lawyer sends a demand letter to the insurance company after thoroughly investigating the case. This letter outlines the facts of the case, liability, injuries, medical treatment received, any income loss due to inability to work during recovery period, as well as pain and suffering endured by their client. The demand letter serves as an initial offer for settlement.
Upon receiving this demand letter from the attorney representing an injured party (also known as claimant), insurance companies typically respond with a counter-offer much lower than what was initially requested. This is where negotiation skills come into play.
Insurance companies aim at paying out as little as possible on claims in order to maintain profitability. They have experienced adjusters who use various strategies such as questioning liability or minimizing severity of injuries to devalue your claim or even deny it outrightly.
Against these tactics employed by insurers, personal injury lawyer attorneys wield their expertise in law and negotiation techniques to push back against undervaluation of claims or attempts at denial of liability. Their knowledge about how much similar cases have settled for in past comes handy here; they leverage this information along with evidence gathered during investigation phase like police reports, eyewitness testimonies etc., so that they can effectively argue why their client’s claim should be valued higher.
Moreover, skilled personal injury attorneys also know how important it is not just argue about what has already happened but also consider future implications – like ongoing medical treatments needed or diminished earning capacity caused due accident – while negotiating settlements with insurers.
If negotiations reach an impasse where neither side can agree upon settlement amount then case may proceed trial where final decision will be made by judge/jury. However, most personal injury cases are settled out of court as going to trial is time-consuming and costly for both parties involved.
In conclusion, the negotiation process between personal injury lawyers and insurance companies is a delicate one that requires expertise in law, medicine, and negotiation tactics. These attorneys play an instrumental role in ensuring their clients receive fair compensation for their injuries, pain and suffering. Their knowledge of similar past cases, understanding of future implications due to accident and ability to effectively counter insurer’s strategies aimed at devaluing claims or denying liability make them indispensable when it comes to negotiating settlements with insurance companies.
Brach Eichler Injury Lawyers
317 George Street, #320, New Brunswick, NJ 08901
732-352-9005
