4 Tips For Negotiating With An Insurance Company
Negotiating with someone can be a challenging task, especially if you are not familiar with the art of negotiation. The famous quote, "Don’t raise your voice, improve your argument" by Harvey Specter from Suits gives us insight into the mind of a skilled negotiator.
Today, we will be drawing light on how to negotiate with an insurance company. You usually claim your insurance payment from an insurance provider when you meet with a car accident or have been on the receiving end of a medical malpractice or have a similar personal injury claim. Irrespective of whether you go through the process with the help of an attorney in Edmonton or through a mediator, these tips will ensure that you are successful while negotiating with your insurance company:
1) Have a Settlement Amount in Mind
The first step in this process is to present the insurance company with an organized demand letter with the supporting documents. You will then meet with the insurance adjuster who will assess your case and propose an amount lower than what you have mentioned in the demand letter. At the stage where you send across your demand letter, you need to have a reasonable settlement amount in your mind. You should then keep this amount as the bottom line while negotiating with the insurance company.
2) Avoid Falling for the First Offer
You need to know that the insurance adjuster that you are dealing with is also a pro at this negotiation. One of the oldest ticks of a true negotiator is to make an extremely low offer to the party in front of him. Your insurance adjuster will do just that. And, as a practiced arbitrator you should not fall for the first offer he makes. The reason being, he will, on purpose, put across a settlement amount that is extremely low to reduce the payout of the insurance company and also to check if you know your claim. Hence, when you get the first offer, you should not accept it but make a counter offer that is higher than the first one but lower than the amount in your demand letter.
3) Communicate About the Emotional Damage
You have to make sure that your attorney in Edmonton speaks about the emotional damage that you have incurred as a result of the mishap. There are two reasons for doing this:
a) Because you indeed have undergone a great deal of emotional damage that has affected your earning capacity
b) Because emotional appeal are given prior importance.Emotion has been used for benefit across all industrial sectors and, you too can use the same tactic with your insurance adjuster.
4) Get the Final Settlement in Writing
Once you arrive at a settlement that is satisfactory, make sure you get it in writing. With the help of an attorney in Edmonton, you can confirm the settlement amount in a letter to the adjuster. The letter should have details regarding the final settlement amount, the injuries and damages the settlement covers and the date by which you will receive the necessary documents.
If you are looking for an experienced attorney in Edmonton to negotiate your insurance claim, then get in touch with us at the earliest.