Settlement negotiations in personal injury claims are always a contentious and difficult affair. Often times it seems like both sides are working from such different perspectives that there is no hope for an agreement. But it helps to try to think about why an insurer acts the way it does, and what your Kentucky personal injury lawyer will do in response.
Some claimants wonder who determines the settlement value of their case. There is no single answer. Your Kentucky personal injury lawyer has a lot of experience dealing with insurers and personal injury law, and there are several factors that must be taken into account. Your Kentucky personal injury attorney will ask you questions to try to get a better understanding of the case and likely settlement range.
Once you agree to a possible settlement range, your Kentucky personal injury lawyer will send it to the insurance company. In the best-case scenario, the insurance company agrees and a settlement is reached within the range.
The final decision of whether to accept it is yours, but keep in mind that your Kentucky personal injury attorney is experienced in this area, and knows what is reasonable to ask for and what is not.
It is also important not to place too much importance on your lawyer’s initial demand letter. This figure will always be far greater than the actual expected settlement range. Naming such a high figure is just a negotiation tactic. Any experienced Kentucky personal injury attorney will name a range that gives both parties room to negotiate; this does not mean that the high demand figure is your actual settlement range.
You might wonder, in that case, if the initial demand is actually too low then, if the insurance company is just going to undercut it anyway. Why shouldn’t your Kentucky personal injury lawyer start from an even higher figure? This tactic tends to backfire. If the initial demand is so outlandish, the insurance company will not even respond because it is so ridiculous, and will not bother to negotiate.
The important thing is that the initial demand from your Kentucky personal injury lawyer be high enough to start a negotiation, but still be within a reasonable range.
Don’t try to negotiate with insurance companies without an experienced Kentucky personal injury lawyer on your side. Call Robert L. Poole & Associate, Law Offices at 800-934-3140.