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Know how the insurance company can try to underpay

On Behalf of | Jul 16, 2020 | Car Accidents |

When filing a claim after a Kentucky car accident, one should not expect the insurance company to be ready and willing to pay the full value of the first offer. Instead, they should be ready to engage in negotiations with the insurance company. These are a necessity to be paid the full amount of damages.

For starters, a claimant needs to do some homework on the true value of their claim. They should research the value of their car and be familiar with the other elements of damages that could be a part of a claim. The insurance adjuster knows this when they are making the initial settlement offer. They realize that many claimants are in the dark and will take full advantage of that. One can stand up for their rights by saying no to the insurance company’s first offer.

The insurance agency likely has the ability to increase their offer. In any negotiation, parties will not lead with their best offer, and an insurance claim is considered to be a negotiation. After the adjuster makes the initial offer, it’s often wise to make a written demand that explains why the claim is worth more. This should include sufficient documentation for the insurance company to understand the basis of the claim.

Negotiating with the insurance company is a tough business. They know more than their customers because this is what they do on a daily basis. Without a car accident attorney on their side, one may be at a distinct disadvantage as they seek to negotiate a settlement. The attorney could tell the client when the insurance company’s offer is insufficient and when they can ask for more money. They know how the game is played.