If you were recently in a car accident and your insurance company offered you a settlement that does not seem fair to you, you can dispute the settlement amount. Here is what you need to know before you do that.
#1 Know What Your Policy Actually Covers
Before you dispute your settlement offer with your insurance company, pull out your insurance policy and find the declaration page. Read through your declaration page; this should tell you what damages you are entitled to receive compensation for, as well as the limits of coverage for your policy.
Reading your declaration page will help you make sure that you have the legal grounds to ask for a larger offer. Technically, your insurance company can't offer you a settlement that exceeds your coverage limits.
#2 Know The Value Of Your Claim
Next, you need to determine the actual value of your claim and how much you think your insurance company is shorting you. Telling your insurance company that you don't feel like their settlement offer was fair is not going to get you really far. You need to know what your claim is worth.
In order to find out what your claim is worth, add up everything that you have had to pay as a result of your accident. If all the bills have not come in, try to get an estimate of any future expenses that you will have to pay as well. This will help you determine what your claim is really worth and what you can really get for it.
#3 Determine A Settlement Range
Using the information you collected and put together from above, you need to come up with a settlement range that you would be willing to accept. Use the value of your claim to set a lower and upper amount that you have to receive from your claim. This is the range that you will stick to during negotiations with your insurance company.
#4 Know When To Get Legal Assistance
Finally, you need to know when to get legal assistance. Generally, if you feel that your claim is unfair, and you want to negotiate a better offer, you should contact an attorney before proceeding. Your attorney will make sure that your value of your claim and your settlement range is acceptable, and they will be able to help you navigate through your negotiation with your insurance company. Remember, your insurance company is going to be using skilled negotiators; there is no reason why you shouldn't also use a skilled negotiator as well.
Before you try to renegotiate a settlement with your insurance company, make sure the you complete the four steps outlined above. Completing these steps will help ensure that you get a settlement that is fair.
For more information, contact a company like Wolfley & Wolfley, P.S.
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