After going through a potentially traumatic car accident, the last thing anyone wants to do is negotiate with an insurance company. Unfortunately, it’s important for all parties that the paperwork is handled as soon as possible. During the ensuing back and forth, there are some important negotiation tactics to keep in mind.
First, report your car accident right away. Many insurance companies have policies requiring prompt reporting. After that, start with what is referred to as a demand letter. This letter encapsulates your desired outcomes for the insurance company including the settlement amount sought. When drafting, make sure to have both a high-end number and a minimum amount that would be acceptable in mind. Of course, do not reveal this range to the adjuster. After deciding on an appropriate settlement amount, you can start the negotiation.