Studies show that car accident cases going to trial happen only so rarely. Instead of having to get an attorney and go through the processes for a car accident settlement, both parties, the offender, and the victim often agree to just pay for the damages. Damages like disablement may happen to the victim and hence a mutual agreement between the two parties should be reached.
So if you are asking, “What kind of accident settlement should I expect from a vehicular crash?”, Expect that you don’t need to go through the processes of the court and have a trial, but instead, reach a mutual agreement with the offender to solve the case. You will still have to get an attorney, though, to assist you with the accident settlement, but you don’t need to go to
Here Are the Things to Do to Settle Your Car Accident Case:
File a Demand Letter
You, the injured party should create a demand letter which states the details of the case, how and when it happened, the medical treatments that you have undergone, and other damages the accident has caused you. This is your best opportunity to present your case to the insurance provider of the other party.
Make sure that your demand letter contains the specific details of what happened during the event, the medical care that you needed and how much it cost you, lost wages, and other damages. In the demand letter, you usually ask for an amount that is higher than your actual cost. This is for you and your lawyer to be able to make some adjustments when negotiating with the kind of accident settlement you would like to have with the other party.
Negotiate After the Initial Demand and the Initial Offer
After submitting your demand letter and other documentations to the insurance company, they will then have to review it. The insurer then gives you an initial offer for the car accident settlement that is way lower than the amount that you are willing to accept. This is a common scenario, as the insurer also generally offers an amount that is less than the allotted value of your claim. Don’t be surprised by this, and don’t accept the first offer that is given by the insurer as an accident settlement.
The Negotiation Proper
So here is where the negotiation starts.You and your lawyer should then give a formal response declining the offer that was given to you. Included in the letter are the reasons why the offer is too low to be accepted. Your letter of response should remain polite, but should also remind the insurer of the details of the damages that have caused you. For example, you may say that the amount they offered is not enough to cover all the medical expenses and the lost wages the accident has caused you, and other inconvenience that you have suffered because of the incident.
Then you can provide in your response letter a counter demand, that is lower than your initial demand but still significantly higher than the insurer’s offer. For example, your initial demand was $6,000 the initial offer to you was $1,500, then you can have a counter-demand of $4,500.
The responses regarding the negotiation may still continue for some time, but soon both parties will then have a mutual agreement of the amount of your compensation.
Get a Mediator
If negotiation still continues and there no common ground for the accident settlement are met, both parties can agree to have a mediator or the neutral party. He will be the one to facilitate in the car accident settlement. After reading the demand letter and all the exchange of responses, the mediator can give new views regarding the case and find a win-win solution to the case.
Accept the offer
Once the mutual agreement is reached, double check if the compensation provided to you can cover all the expenses that you need as well as the attorney’s fee. Once settled, the insurer may offer a verbal agreement regarding the accident settlement. Make sure to have a formal written document of the agreement signed by both parties to avoid any more conflict. The document should also state that once the compensation has been given, the injured party cannot file a case regarding the incident.
In a car accident case, make sure to still be able to get the right value of compensation that you need it doesn’t cause you any financial trouble in the future. You don’t need to go to a trial. Negotiation regarding the accident settlement with the insurer and your lawyer, and in some cases, with a mediator can be settled outside the court. There are worst cases for accidents that even hinders the income earning capacity of the victim. Learn your rights and never settle for less.