Personal Injury Settlements: Negotiating With An Insurance Company
If you’ve become injured in an accident that was not your fault, it is unavoidable that you will have to deal with an insurance company in order to be compensated for your damages. Insurance negotiations are the bread and butter of personal injury cases and are considered to be the easiest way to resolve your case, hopefully avoiding a lawsuit. While hiring a Greenwood Village, Colorado personal injury attorney can provide you with a definite advantage, you should always be sure to also educate yourself on the process of negotiations.
It is important to acknowledge the true nature and goals of an insurance company. They do not exist to come to the aid of people who have been injured. An insurance company is a company and companies seek to make profits. Profits are necessary for their success, so they will never have your best interest as their goal. They will do anything they can to limit your settlement amount or deny your claim. It is never wise to communicate with the insurance company yourself. Hire a personal injury attorney in Greenwood Village, CO to negotiate on your behalf.
Seek out a qualified Greenwood Village, CO personal injury attorney to begin an independent investigation of your case. You must provide proof of fault to the insurance company, showing that you’re entitled to compensation. You need real evidence and an experienced personal injury attorney in Greenwood Village can find it.
When you negotiate your settlement, the exact totals of your losses must be known. Economic damages, like medical bills and lost wages, are simple to calculate. Non-economic losses, like pain, suffering, and emotional distress are more complicated. You must calculate them when your Greenwood Village, CO personal injury attorney is negotiating for you. Insurance companies generally apply a standard formula to calculate your non-economic damages, which is based on the economic damages you have proven with your evidence. If your lost wages and your medical bills total $20,000 and the formula used by the company is a multiplier of three, your non-economic losses would be calculated to be $60,000.
It is very important to prepare yourself to understand and defend any and all weak spots in your case. Even if you truly believe that your claim is flawless and strong, you should expect the insurance company to find something to pick apart and use to attempt to deny payment or reduce the amount of your settlement offer. Colorado uses the rule of comparative negligence, which can potentially wind up reducing your compensation if you were partially at fault for your accident and injuries. The insurance company will use that fact to reject your claim, if possible.
Insurance companies will also check all your medical records before entering into negotiations with you or your Greenwood Village, CO personal injury attorney. It will be considered suspicious if you didn’t seek treatment for your injuries immediately, failed to complete your treatments, or failed to follow doctor’s orders.
Call Now For A Free Personalized Case Evaluation