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Improve your chances of securing a favorable settlement deal with these tips

7 Tips for Personal Injury Settlement NegotiationsIf you have been injured in any kind of personal injury accident, you are probably never going to see the inside of a courtroom. This is a good thing, since taking a case to court can take years and exact a significant emotional and financial toll. Instead, your case is likely to be among the roughly 90 percent of claims resolved in settlement negotiations.

While you can rely on your personal injury attorney to handle the actual negotiations for you, you are still an active and involved participant in the process. Your attorney will provide their honest, professional advice, but ultimately they are acting under your direction so you need to be prepared to act wisely.

Here are 7 tips that will help position you to secure the most beneficial settlement possible.

  1. Set an appropriate opening request. Obviously, no matter what amount of compensation you initially request from the insurance company, they are going to counter with a lower number. That is just the way of negotiations. This means you need to be sure to set your opening figure high enough to allow for negotiation, but not so high you get laughed out of the room.
  2. Know what you can sacrifice. Before you start negotiations, you should figure out a minimum settlement value that you would be willing to accept. This number should cover your needs (such as medical bills) but may offer less on your wants (such as pain and suffering).
  3. Weigh your options. If you are willing to file a lawsuit and delay your compensation, this will give you more freedom in negotiations because you will feel less pressure to accept a lower offer.
  4. Understand the other side’s position. If you have a strong case and your attorney believes you can win in court, this means the insurance company’s position is weak. It is in their interests to settle, so you can hold out for a deal that is acceptable to you.
  5. Listen. Negotiations are often done in a series of phone calls, but sometimes there may be a meeting where you may be given an opportunity to speak. If so, you do not need to make a huge speech or air all your arguments and concerns at once. It is better to listen to what the other side is saying—or not saying—as this can be revealing of their position.
  6. Stay objective. If you get emotional, you are more likely to make errors in judgement that may result in you missing out on compensation you deserve.
  7. Do not be bullied. Do not let the other side’s gruff attitude or dire pronouncements bully you into accepting an unfavorable settlement. Their “best offer” is seldom REALLY the best offer, so stand firm to get the compensation you need. If negotiations fail, you can always file a lawsuit.

If you have been injured in an accident, the Law Offices of Fernando D. Vargas is here to help. Call us at 909-982-0707 now for a free initial consultation.