Posted on: 31 March 2017
If you are the victim of a car wreck, you should keep in mind that you may not be able to count on the insurance company to provide you with fair compensation. The at-fault driver's insurance carrier may offer you something for your injuries, but insurance companies do not have your best interests in mind when they make that offer. Instead, you may need to ensure that there is no question about what type of compensation you need, deserve and expect to receive as a result of your injuries. Read on to learn more about an important piece of communication between you and the insurance carrier.
The Demand Letter
While you might hope to be offered a fair settlement, you also likely dread the thought of having to take your case to court. Many people may not know that a method of procuring a fair settlement offers exists that straddles the line between an inadequate offer and letting a judge decide. The demand letter (or letter of demand) allows you to state your case against the at-fault driver and to ask for what you want in monetary compensation.
Both Sides May Benefit
The insurance adjuster for the other side (and the legal professionals that represent the insurance carrier) know all too well how time-consuming and costly waging legal battles in court an be. It is actually in their best interest to try to settle the case out of court, and the demand letter facilitates that process by letting them know of your intention to file suit if the demands are not met. This puts the insurance carrier on notice and opens the door for further negotiations.
What Your Demand Letter States
You must not only let the other side know that their client is at fault, you must provide some reasoning why and a list of evidence that supports your side. For example, you may list what you have and know so far about the case, such as eye-witness testimony, the police report and video recordings.
It's important to give an accurate summary of the monetary damages you have suffered so far from the accident, such as a list of your medical bills, your lost wages, personal property loss or damage and more. You should be able to provide proof of these expenses, such as medical records, receipts and pay stubs.
Since this letter is meant to be the starting point for a dialogue between you and the other side, make the dollar amount you are demanding a bit higher to leave some room for negotiating downward. Negotiating an accident settlement can be extremely difficult and stressful, particularly if you are still suffering from the effects of the accident. Put experience on your side by seeking the help of a personal injury attorney as soon as possible after the accident.
For more information, contact a professional such as Teresa P Williams.Share