Negotiating a claim settlement
A car accident can be a stressful experience — one every driver hopes to avoid. Yet if you’re ever in an auto accident, it’s important to understand the claims process and how to negotiate a claims settlement with your car insurance company.
An auto insurance claim usually begins when you notify your car insurer that an incident occurred and damaged your vehicle. From there, an insurance adjuster will gather information and investigate. If an adjuster approves your claim, they’ll assess the damage and offer you a settlement amount.
It’s important to understand that you don’t have to accept the first offer an insurance adjuster makes. In fact, it may be wise to do your own research to make sure the offered amount is fair and adequate to pay for any necessary repairs to your vehicle and other types of expenses, like medical bills, when applicable. If you believe a settlement offer is lacking, you have the right to question it and ask for additional funds.4
Research your car’s value
Before you begin any type of settlement negotiations with an insurance adjuster, it’s helpful to know the fair market value of your car. You can typically find out what your car is worth by:
Looking up your vehicle on third-party websites, such as Edmunds or Kelley Blue Book.
Talking to multiple reputable mechanics.
Researching the prices of comparable vehicles for sale in your area.
If an adjuster’s estimate of your vehicle’s fair market value is less than the estimates you receive, you may be able to use the information you gather to request a higher settlement amount.
Keep documentation
Throughout the claims process — and especially if you plan to negotiate with an adjuster — it’s important to remain organized and keep detailed records of documents that are relevant to your claim. Accident reports, evaluations of vehicle damage, notes from witnesses, repair costs, and medical expenses are a few examples of the types of paperwork you should retain. There’s a good chance you might need this information at some point in the future.
When to get legal help
In many cases, you don’t need outside legal assistance to settle a car insurance claim, even if a little back and forth negotiation may be in order to make sure you get a fair deal. But if your situation is complex or you don’t feel comfortable with an insurance company’s settlement offer, it might be a good idea to talk to a trustworthy attorney for guidance.
Situations where an insurance company is acting in bad faith or refusing to pay out enough money to cover your damages might require professional advice.4
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