Injury Settlement Negotiations with Insurance Companies

Tuesday, March 16, 2021

Injury Settlement Negotiations with Insurance Companies

Written by Malman Law, reviewed by Steve J. Malman.

Insurance companies can be difficult to negotiate with, and they will take advantage of unrepresented parties. You should always have an experienced Chicago personal injury lawyer handling your insurance negotiations for injuries and losses caused by others.

If you were recently injured in an accident, you are likely anxiously awaiting compensation for your injuries. You might have medical bills that need to be paid, lost wages to be made up for so that you can pay your normal expenses, and other reimbursable costs that arose from your accident. Although it should be as simple as the insurance company quickly calling you to offer you a full and fair settlement, it’s not. 

Insurance companies are like every other company; they are in business to make money. If they pay every injured claimant fairly for their damages, they won’t be as prompt or efficient at doing so. This fact weighs so heavy on them that they will use an array of tactics to avoid paying you what your claim is worth. However, you aren’t entirely at their mercy. You can hire an experienced Chicago personal injury lawyer who can help in your settlement negotiations to ensure you get the compensation you deserve.

Should You Accept a Settlement Offer?

After you file an insurance claim for your injuries, the adjuster assigned to your case might attempt to call you as soon as possible. They want to catch you before you have the opportunity to discuss your case with a well-versed Chicago personal injury attorney. By doing this, you likely won’t know what your case is really worth or even that you don’t have to just accept what they offer you. 

However, you do have the right to reject their offer and ask for a higher amount, kicking off a negotiation. The problem is that you likely don’t know the strengths and weaknesses of your case. An experienced Chicago personal injury lawyer would and can leverage each to get you a higher settlement. 

How Insurance Negotiations Work

Suppose you hire a Chicago personal injury attorney to represent your claim. In that case, they will first carefully evaluate all the details of your case. They need to determine how your injuries happened, who caused them, and their severity. All of this information will help them find out what your case should be worth. 

Then they will draft a demand letter to the insurance company. This letter will detail your injuries and damages and make a formal request for the amount of money expected for your claim. Shortly after receiving it, the insurance adjuster will usually call your attorney to begin the negotiations. 

Sometimes these negotiations occur over just a few days and are relatively simple. In other injury cases, negotiations can take months or even years. Rest assured that your attorney is obligated to tell you about the offers you receive and let you decide how you want to proceed. You can tell them to keep negotiating for you, to accept an offer, or that you want to litigate your claim. 

Let an Experienced Chicago Personal Injury Lawyer Negotiate for You

The team of skilled personal injury attorneys at Malman Law is ready to negotiate for you today. Call (312) 629-0099 or use our online contact form to schedule your complimentary case review.