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Negotiating a settlement following a car accident

One of the common concerns that Ocala and Marion County clients have when they come to us here at the King Law Firm following a car accident is whether they will have to sue in order to get their expenses paid. You likely share this same concern. However, you may be surprised to learn that, at least according to the American Judges Association, only 3 percent of civil cases every actually get to the point of a jury trial. Yet even if your case does not go to trial, you still need to be prepared to fight for the compensation that you deserve. Here are tips for negotiating a car crash settlement.

Your first step in settling with yours or another driver’s insurance company following an accident is drafting a demand letter. While using the word “demand” in reference to this document may seem confrontational, it is not meant to be. Rather, it is simply your opportunity to state the facts of the case, as well as outline any expenses and financial losses that you accrued as a result of it. Some examples of these expenses include:

  •          Medical bills
  •          Lost wages
  •          Impact on your quality of life
  •          Pain and suffering

All of these financial factors will go into determining the amount that you’ll ask for. Typically when negotiating a car crash settlement, your initial demand should be higher than that which you are prepared to accept.

The insurance company will usually respond to your demand letter with a counter-offer much lower than what you requested, and that they themselves have allotted to pay your claim. In many cases while negotiating a car crash settlement, a reasonable final settlement offer will be that which you initially requested, minus the amount of their counter-offer. For example, if you asked for $15,000, and were offered $5,000, a reasonable settlement may be $10,000.

For more information on earning compensation following a car accident, please explore our site.

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