After a Kentucky accident, many claimants make a big mistake in accepting whatever they are offered by the insurance company. They fail to understand the insurance company’s profit motive and how it results in offers that are less than the value of the claim. It is important to know that a settlement is a negotiation as opposed to being forced to accept the first offer.

Most people start the process with an incomplete understanding of the role of the insurance adjuster. In reality, the adjuster is there to help their company save some money. This is done by lowballing the initial offer. The adjuster knows exactly how much the car is worth almost to the penny. They are banking on the fact that the claimant does not. Thus, the adjuster can be partially thwarted with a proper understanding of the value of the claim.

If the initial offer is inadequate, one should counter with their own demand letter stating the amount to which they feel they are entitled. One should try to overstate this amount knowing that it will still be subject to negotiation with the insurance company. The claimant should also be able to detail the other elements that could warrant financial compensation such as their pain and suffering and medical bills. They should include evidence and documentation of their claim to show the insurance company.

If one has been injured in an accident, they should contact a motor vehicle accidents attorney to learn more about their legal rights and how they should handle the claims process. The attorney could negotiate with the insurance company on their client’s behalf and may have a better understanding of what the claim is worth. If they cannot negotiate a settlement, they might file a personal injury lawsuit on behalf of their client.