Anyone who has been hurt in an accident in New York caused by the negligence of another party has the legal right to seek compensation for their loss. Some personal injury cases get settled out of court after successful negotiation with the insurance company representing the party at fault. In cases where there is disagreement about the compensation being offered, the accident victim may decide not to settle and instead, proceed to go to trial to get their rightful due.
Anyone who has been hurt in an accident in New York caused by the negligence of another party has the legal right to seek compensation for their loss. Some personal injury cases get settled out of court after successful negotiation with the insurance company representing the party at fault. In cases where there is disagreement about the compensation being offered, the accident victim may decide not to settle and instead, proceed to go to trial to get their rightful due.
Going the court trial way is a highly time-consuming and costly process. Negotiating a voluntary settlement outside of court is therefore often viewed as an easier way to quickly resolve the case. If you choose this option to deal with your personal injury claim, it is important to make sure you get a fair value as compensation.
General Procedure in a Settlement Negotiation in New York
Soon after having sustained the personal injury, you must present a demand letter and other supporting documents to the insurance company. Following this, you will have to communicate with the insurance adjuster to discuss the strengths and weaknesses of the claims you have presented. The adjuster will then make their offer of settlement and this will typically be lower than what you have asked for in your demand letter.
You will have to make a counteroffer that is lower than the amount you initially demanded, but higher than what the adjuster has offered. After some further bargaining, both parties may agree on a settlement amount that lies somewhere in between both their initial offers.
Reasons Why Your Claim may be Diminished
Insurance companies are generally reluctant to part with money and there are several reasons that a claims adjuster may quote to diminish the value of your claim. The most common ones include:
- You did not seek medical care immediately after the accident but waited for many days.
- You were also responsible for the accident and therefore, the insured person is not 100% liable for the damages you suffered.
- The injuries you suffered are not significant enough to justify the amount of time you took off from work.
- The cost or length of your medical treatment is unreasonable as per current standards.
- Your injuries are a mere aggravation of an already existing health condition or previous injury you suffered and therefore, not new.
- The compensation you are seeking for your pain and suffering is unreasonably high.
Topics that may Come up During Negotiation
During a settlement negotiation, insurance adjusters cover a wide range of topics, asking questions that seek to dispute the facts you have presented. These questions are more often than not designed to test how firm you are about the strengths of your case and also to limit the compensation you receive. The most common topics discussed during such negotiations include the following:
- How extensive were your injuries? Did they cause a disability or a long-term impact on your health and lifestyle?
- Who was liable for the accident? What was your contribution to the negligence that caused the injury?
- Does the insurance policy actually cover the accident?
- Were the medical treatment procedures and therapy you received really necessary to treat the injuries?
- Did you have any previous health condition that aggravated the current injury and caused you to sustain greater loss?
Tips for a Successful Negotiation of Your Personal Injury Settlement in New York
It is a good strategy to provide reasonable answers to the questions raised by an insurance adjuster during the personal injury negotiation settlement process. However, you must also stay alert to the fact that some adjusters may seek to make you settle for less than what is due to you by using unfair tactics. Here are a few tips to successfully negotiate your way to the personal injury settlement that is your actual due.
- Set a Minimum Settlement Amount in Your Mind
At the time of preparing the demand letter for personal injury settlement, you are likely to have arrived at what you believe to be a reasonable range for the settlement amount. Before speaking to the insurance adjuster, make sure you have mentally decided on a minimum settlement amount. You don’t need to reveal this during the negotiations; it only serves as a tool to keep you focused on what is and isn’t acceptable to you.
During the negotiation, it may become obvious that newly uncovered evidence or facts call for an upward or downward revision of this minimum amount. In such situations, do not blindly cling to your previous resolve; stay flexible to accommodate the new facts so that you get the best possible deal.
- Ask for More Information
Adjusters may begin the conversation by making a very low offer. Often, this may be a tactic to check how well you know your case’s worth or to find out how desperate you are for a settlement. When faced with such a low offer, ask for specific information that justifies it and make a note of the points raised.
Later, write to the adjuster and respond to each of these points, and wait to see if they are agreeable to what you suggest. Most adjusters in such situations realize that you are not someone who can be intimidated into accepting a low figure and this will force them to come up with a more reasonable settlement offer.
- Never Jump at the First Offer you Receive
When the insurance adjuster makes their first offer, evaluate it to understand its real nature. Never quietly accept the very first offer that is made. Adjusters often make ridiculously low offers as a negotiating tactic to see how firm you are about the validity of your claims.
If the offer is lower than what you expected but still, a reasonable one, make your counteroffer that’s slightly lower than your initial demand. This conveys openness to negotiation and with a little more effort, you should be able to bargain to reach a settlement figure that is agreeable to both parties.
- Draw Attention to the Emotional Aspects of the Case
Make it a point to emphasize the emotional aspects of your case during the settlement negotiation. Refer to how badly smashed your car was, or highlight how your injuries prevented you from caring for a young child or elderly parents dependent on you.
If an investigation threw up evidence of the at-fault driver being distracted or driving under the influence of alcohol, bring up these aspects to strengthen your arguments. Although it isn’t possible to put a price on such emotional issues, they can make an impact on the insurance company’s willingness to settle the claim.
- Be a Smart Negotiator
After the initial discussion and your first counteroffer, wait until the adjuster communicates their decision. Never reduce your personal injury claim further until they make a better offer. Reducing your demand more than once sends is bad bargaining because it sends across a signal of your being desperate for a settlement. If the adjuster raises further points, examine them and see if they are valid, and then decide whether to accept their revised offer or to continue to hold your ground.
- Capture the Settlement Terms in Written Form
After both parties reach an agreement on the settlement amount, have the insurance adjuster confirm it for you in writing. Write a letter stating the details that have been agreed upon such as the amount of the settlement, the damages it will cover, and the date by when you will receive the documents from the insurance company. This documentation will prevent any situation of the adjuster backing off at a later date.
Engage an Experienced Personal Injury Attorney in NY
A study conducted by the Insurance Research Council in 1999 showed that settlements tend to be about 3.5 times higher when the injured person engages a legal team to handle their case. This is quite a sizeable figure and can make a huge difference to the amount you are able to recover in damages.
If your injuries are of a more serious nature and your claims run into tens of thousands of dollars, it is a good idea to engage the services of an experienced personal injury attorney. The presence of an attorney indicates that you are serious about pursuing your claims and quite willing to take the legal route to a trial and this ensures that the adjusters come up with far more reasonable offers of settlement.
If you have suffered a personal injury in New York due to the negligence of another party, get in touch with our skilled personal injury attorneys at Rosenberg, Minc, Falkoff & Wolff, LLP.
If you or a loved one have been hurt in a car or truck accident or suffered due to medical negligence or sustained a slip-and-fall accident, call our attorneys at 212-344-1000 or contact us online to schedule a free consultation. Whether it is negotiating with the insurance adjusters or even pursuing the case to trial, our team will help you build a case that’s strong enough to fetch you the maximum compensation that you rightfully deserve.
