Wichita Falls and Dallas car accident settlement negotiations are often the most effective way to resolve personal injury claims because you avoid the stress and uncertainty that comes along with filing a lawsuit and going to trial. Any victims seeking compensation for their injuries and damages should be aware of the process and know what to expect when negotiating a settlement with an insurance company.
The Settlement Negotiation Process in Wichita Falls and Dallas Car Accident Claims
After a Wichita Falls or Dallas car accident, the process of obtaining compensation occurs in steps.
- File a Claim: After a car accident, the first thing you need to do is file a claim with the at-fault party’s insurance company. Note that you can also file a claim with your own insurance company if you have uninsured or underinsured motorist coverage. When you file a claim, you will have to provide the insurance company with certain information such as the vehicles involved, what happened, what the damage is both to the vehicles and to yourself, etc. Be careful, however, when providing this information because the insurance company can use anything you say against you. It’s generally good practice to provide as little information as possible by sticking to exactly what the police report says. Once you successfully file your claim, the insurance company will investigate and conduct an evaluation.
- Initial Offer: Once the insurance company has done their own investigation, they will make you an offer based on how much they think their insured was at fault and what the damages are. Because insurance companies are in the business of making money and because they know negotiations are likely to ensue, they often start with lower amounts. The offer may only be the baseline of the damages such as the repair estimate and medical bills. It could, however, be even lower than that if they believe you shared any fault in causing the accident. It’s critical in the framework of negotiations to know that this first offer is merely a starting point; it’s not the final destination.
- Evaluate the Offer: Every offer you receive, you should review it carefully. Try to understand the insurance company’s thought process and how they put together your numbers. See if the offer covers all your expenses associated with the accident. You should also consider any future medical care you may need as a result of your injuries and the cost of any property damage you incurred. In personal injury claims, you can also recover for non-economic damages like pain and suffering, which the initial offer almost certainly did not include. Reviewing your case and your offer with an experienced car accident and personal injury lawyer can help ensure you are getting the compensation you deserve.
- Make a Counteroffer: If the insurance company’s offer is not up to par, you can make a counteroffer. In the counteroffer, you should outline the full extent of your losses and back it up with as much documented evidence as possible. This evidence could include the police report and witness statements to prove liability, and medical records, repair estimates, and statements about pain and suffering to prove damages. While you certainly want to make sure you are covered and obtain as much as possible for your settlement, you also have to be realistic. The important thing to do is to ensure that the settlement covers all your current and future needs, while maybe providing a little compensation for your pain and suffering as well.
- Negotiating the Final Settlement: In almost all settlement negotiations, there are several back-and-forths before the parties settle on a final number. It may be difficult, but the important thing in negotiations is to stay patient and persistent. Please note, however, that if your case involves very serious, life-changing injuries, you need to consult with an experienced lawyer who can ensure your rights are protected. Likewise, if your case involves disputes about who was at fault, you may benefit from the expertise of an experienced car accident and injury lawyer.
How to Prepare for Wichita Falls and Dallas Car Accident Settlement Negotiations
In order to strengthen your position during Wichita Falls and Dallas car accident settlement negotiations, consider the following strategies:
- Collect Documentation: In any situation, you are going to have to prove your case. It’s important to gather all documented evidence you have at your disposal and have it organized in a way that is easily accessible.
- Understand Your Rights: Understanding your rights is critical to securing the compensation you deserve. You need to get familiar with both your insurance coverage and your state laws regarding personal injury claims.
- Be Patient and Professional: Negotiating a settlement can be extremely frustrating, especially when you are hurting for the money and the insurance company keeps delaying your claim or making you low-end offers. It’s important to always stay calm, respectful, and professional. If it comes to the point where you are getting frustrated and feel like lashing out, consult with a lawyer first. They can give you a realistic, objective evaluation of your situation.
- Know When to Seek Legal Help: As mentioned above, if your claim is really complex or involves disputed liability or extremely serious injuries, consulting with an experienced Wichita Falls and Dallas car accident lawyer early on can make a substantial difference. Afterall, personal injury lawyers negotiate with insurance companies all the time. They know the laws and the strategies and tactics to get you the compensation you deserve.
Contact a Wichita Falls and Dallas Car Accident Lawyer
If you or anyone you know has been in a car accident in Wichita Falls or Dallas, contact our car accident lawyer either by calling one of the numbers listed below or filling out our contact form. For Wichita Falls car accidents, contact us at 940-569-4000. For Dallas car accidents, contact us 945-295-0014. We will give you a free evaluation of your case and offer you helpful information on how to proceed.