Dealing with an injury someone else caused can put a strain on your finances and create stress about the future. If you plan to pursue financial compensation, every decision you make can impact your ability to recover a fair amount. Insurance companies want to protect their profits, which means you’ll need to negotiate your payout.
However, negotiating with an insurance company isn’t as straightforward as it seems. You could negotiate for months and still be offered an amount that won’t cover all of your expenses. To avoid getting shortchanged, here’s what you need to know about maximizing your claim.
1. You need an attorney
Attorneys aren’t just helpful – they’re essential for negotiating a fair settlement. Insurance adjusters are trained to minimize payouts and hold back while negotiating every claim. Without legal guidance, you’re more likely to accept an offer that falls far below the true value of your claim while believing you’ve negotiated the best deal you can get.
Adjusters take advantage of the fact that most people don’t know the full value of their claim. Knowing this, they’ll present a low settlement offer before a victim understands the extent of their injuries. Even when a victim attempts to negotiate, the insurance adjuster still keeps offers low.
People who work with an attorney are more likely to get better compensation because lawyers can calculate damages accurately to include future medical expenses, lost earning capacity, rehab costs, in-home care, and pain and suffering. Bringing in an attorney also changes how insurance adjusters negotiate. They’re less likely to hold back and more likely to offer fair compensation from the start.
2. Get treated by a medical provider immediately
To get compensated for your injury, it’s essential to see a doctor and get evaluated, even if you don’t think it’s necessary. Medical documentation forms the basis of every claim. While some injuries don’t require extensive medical care, you still need to establish a connection between your accident and your injury. Without this connection, it’s hard to prove your injury was caused by the other party.
Getting checked out by a doctor is especially important when you understand that certain injuries, like soft tissue damage and traumatic brain injurie,s don’t produce symptoms right away. You might think you’re fine now and start experiencing symptoms in a couple of weeks. Without an initial visit to the ER, the insurance adjuster could question the validity of your claim and suggest that something else caused your injury.
3. Follow your treatment plan
Following your treatment plan plays a critical role in maintaining your credibility. It tells the insurance company you’re truly injured and you want to recover. If you don’t follow through with treatment, the adjuster might claim you’re not really injured. This can result in a devalued or denied claim.
4. Don’t give a recorded statement
The insurance company might make it seem like you need to give them a recorded statement, but it’s not a legal obligation. They want you to talk to them on the record so they can pick apart your story and find inconsistencies they can use to deny your claim. They’ll ask you strategic questions designed to gather information that limits their financial responsibility. If you provide a recorded statement, innocent comments can be taken out of context and used to reduce your claim.
5. Let your lawyer handle all communication
It can work against you to speak with an insurance adjuster about your claim if you don’t know you’re walking into a trap. Personal injury lawyers know what they’re going up against and have strategies for communicating and negotiating effectively. Having an attorney can make a huge difference in terms of reducing your stress and getting a bigger payout.
6. Document every financial loss
The compensation you recover will depend on documented expenses and losses. Having detailed records makes it easier to prove the value of your claim. Save all of your receipts for medical appointments, hospital stays, prescriptions, transportation, therapy, and any other services related to treatment. Keep track of all the days you miss work and any financial opportunities you’ve lost because of your injury.
In addition to these losses, a lawyer can help you calculate lost future wages and lost earning capacity if your injury is severe enough to limit your ability to work long-term.
Protect your right to compensation
Insurance companies will intentionally hold back, but you can get around this by bringing in a lawyer to negotiate on your behalf. When you’re represented by a legal professional, you’re more likely to recover a settlement amount that reflects the true impact your injury has had on your life.
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