Insurance
How to negotiate an auto insurance settlement
October 25, 2011 by creative · Leave a Comment
If you want to get the best settlement, you need to prepare from the beginning of the process as any mistakes you make early on will cost you dearly. Follow these guidelines before you start negotiating with your insurer.
Work out the amount to claim
You need to consider repair costs, and if you were injured medical bills, lost wages and an amount for the pain and suffering you were through, this is usually three times the amount of the medical bills. Use this amount as a basis for your negotiations.
Do not share your medical history
Do not divulge anything regarding your health issues to your insurer nor grant him authorization to collect your medical records.
Seek medical attention immediately
Call paramedics to the scene of the accident even if you are slightly injured and have them check you. This way the insurer cannot claim that any injury or condition was sustained prior to the accident.
Don’t be coerced in to entering a settlement
Stand your ground and don’t allow the insurer to intimidate you. Ask them to give you an offer and ask for time to consider the offer without committing to anything.