If you've ever been involved in a car accident in the past, you should be well aware of how much of an ordeal this can be. You may end up having to deal with both emotional trauma, injuries, and a vehicle that is completely out of action. During all this stress you may even need to take time off work and have to cover both medical and repair expenses. In such situations, it helps to have an Chicago auto insurance settlement. Negotiating the best settlement with your insurer is important, and by following these tips you can ensure you get the best settlement possible:
1. Gather all necessary documents
Before you set up a meeting with your insurance adjuster make sure that you have gathered together all the relevant documentation. This will include any medical bills you have paid, estimates for vehicle repairs, pictures of your vehicle after the accident, and the police report from the scene. If you missed any time off work, you should also get this is in writing from your employer.
2. Be open and prepared for questioning
You need to be completely open with the adjuster in order to get the best settlement. Any embellishments on your part will come back to haunt you and may be used against you. Know your story and stick with it. Remember that the adjuster will try to get you to change or modify your story to give them leverage. Be prepared for any questions and stick by what happened.
3. Know what you're worth
It's important that you come in with a precise idea of what you are looking for in your settlement. You can determine this by valuing up your medical and vehicle expenses, plus any lost income from time off work. Don't be prepared to accept anything less than you are worth.
4. Don't take the first offer
A golden rule of negotiating is not to take the first offer even if it seems good. A common strategy among adjusters is to offer the smallest possible settlement first, so don't be tempted to accept it. They will do this to see if you are willing to close the claim quickly. If you really want the best settlement, you need to be willing to say 'no' and to keep on pushing for more.
5. Consider further action
It is often a good idea to hire an attorney, or at least threaten to do so if you are at an impasse. Your attorney can file a suit against your insurer for bad faith if they fail to offer you an appropriate claim amount. If you are failing to reach a settlement that you deserve, do not be afraid of taking this step.
Negotiating effectively will help you get the best settlement possible. For more information about effective settlement negotiations, give Prime Insurance Agency a call on 630-442-0282.