If you are negotiating with an insurance company about personal injury claims, you will most likely be dealing with an insurance claims adjuster. It might be helpful to understand how the adjuster normally operates before compiling a written demand letter, and undoubtedly before accepting or rejecting a settlement offer.
Just like a Los Angeles personal injury lawyer with El Dabe Ritter Trial Lawyers, the adjuster will want to assess and fully understand the underlying facts of your cause of injury and the damages sustained.
So, what does a personal injury insurance settlement offer involve?
Getting Information About The Insured
If you want to make a claim with the at-fault party insurance company, your claim is a third party. The first detail that the adjuster will want to know is what the accused has to say about the occurrence. Apart from speaking to the insured individual, the adjuster will go through any accident report and police reports related to the accident.
Investigating The Plaintiff
The insurer seeks information that enables adjusters to determine if the plaintiff has ever filed a personal injury claim in the past. An experienced adjuster also digs up any dirty information about the claimant.
Requesting Claim Documentation
The adjuster contacts the plaintiff or his or her lawyer to introduce him or herself and demand credentials related to the claim. The adjuster usually requests documentation like proof of property damage, medical bills, proof of income, and tax returns. An adjuster will not make a settlement offer without all the documents required to prove and assess the personal injury claim.
Determining The Settlement Amount
To value your case, the adjuster must consider your chances of winning at trial if you file a personal injury insurance settlement lawsuit and the amount that the jury will award you for the damages.
There are various types of damages:
- Lost earnings
- Medical bills
- Pain and suffering
The adjuster usually discounts your medical bill if they think it is overvalued. The adjuster determines how right your medical treatment raises the value of your injury claim.
Calculating The Value Of Suffering And Pain
This is challenging for both the insurance adjuster and the plaintiff’s attorneys. However, adjusters nowadays have specialized software and formulas for assigning value to suffer and pain claims.
Initial Settlement Offer
After the insurer has determined a settlement amount, he or she must know what to offer. The initial offer is a percentage of what the insurer considers to be the final value of the claim. For instance, the insurer might necessitate that the initial offer is 40% of the value of the claim. There is no standard percentage on this; different insurers have varying procedures.
One of the most crucial elements is that the adjuster usually has a way of adjusting the initial offer, depending on who he or she is dealing with. If the adjuster is dealing with an inexperienced and underrepresented plaintiff, the initial offer will often be less.
Contact El Dabe Ritter Trial Lawyers to learn more about your personal injury settlement.