One of the most important skills for a personal injury lawyer to have is the ability to negotiate. Personal injury cases are about obtaining fair compensation for the injuries you’ve suffered due to someone else’s negligence or misconduct. Accordingly, determining the value of a case and negotiating for a fair settlement is essential to being a good personal injury lawyer.
The Role Of Insurance Adjusters And Personal Injury Attorneys
Insurance adjusters work for insurance companies. They investigate injury claims and determine whether the insurance company is liable for the claimant’s injuries and damages. Their job is to reduce the liability and payout the insurer owes to injured victims. Personal injury attorneys advocate for accident victims to recover compensation that fairly accounts for their injuries and losses.
Because these individuals are on opposite sides of personal injury claims, they often have different opinions about the claim’s value. Personal injury attorneys demand the highest compensation justified by the case, while insurance adjusters try to minimize the value of claims. They may engage in several rounds of negotiations before reaching a final settlement figure.
How Much Is My Personal Injury Claim Worth?
Before you understand the art of negotiating, it is essential that you understand what your personal injury claim is worth. To you, the value of your claim is fair compensation for everything that you have endured because of the accident.
As such, this takes into account:
- The type and severity of injuries you suffered
- The type and duration of medical treatment you have to receive
- How the accident affects your long-term earning capacity
- The degree of inconvenience the injuries have caused your life
- The extent of your pain and suffering
- How the accident has impacted your life
The insurance company will try to point to factors to reduce the value of your claim, such as any of your own negligence that contributed to the accident. The insurance company will only settle claims up to the policy limits. However, you may be able to file a lawsuit against the defendant for the full value of your claim, or there may be multiple parties responsible for your injuries.
What Damages Can I Recover From a Personal Injury Claim?
In Oklahoma, accident victims can seek compensation for the economic and non-economic damages they suffer because of a personal injury. Economic damages make up financial losses caused by an accident. For example, car accident victims may be able to recover compensation for:
- Past and current medical expenses
- Future anticipated medical expenses
- Lost wages
- Reduced earning capacity
- Property damage
- Funeral and burial expenses (if the accident is fatal)
Non-economic damages compensate the victim for intangible losses, such as:
- Pain and suffering
- Mental anguish
- Emotional distress
- PTSD
- Loss of quality of life
- Disabilities and impairment
- Disfigurement
An experienced personal injury lawyer can review your case and explain its potential value.
What Can A Lawyer Do To Increase The Value Of My Case?
A personal injury lawyer with strong negotiating skills can help with your case by handling your claim and managing communications with the insurance company. Lawyers know about the deceptive tactics that insurance companies use to undervalue claims and can take steps to prevent you from damaging your case.
Lawyers can also thoroughly review all of the terms of insurance policies so they know the full limits and exclusions that apply, rather than depending on an insurance company’s own self-serving interpretations of the contract. A lawyer can consider the long-term impact of injuries, such as diminished earning capacity and reduced quality of life, and ensure they are considered in evaluating your claim.
Personal injury lawyers can also prepare a demand letter that effectively lays out your case, why the insured is responsible for your injuries, and the compensation it would take to settle the claim. A personal injury attorney can also carefully consider the strengths and weaknesses of your claim and negotiate with this information in mind.
What Can I Do To Increase The Value Of My Case?
Fortunately, there are steps that you can take to increase the value of your case and put your lawyer in a better negotiating position, including:
- Reporting the accident immediately to authorities
- Seeking prompt medical attention
- Keeping all records related to your accident
- Letting your lawyer handle communication with the insurance adjuster
- Refusing to give a recorded statement or sign a medical release form for the insurance company
Hiring a personal injury lawyer is also a great way to maximize your opportunity to recover compensation. Studies show that injured victims can recover up to 3.5x more money with an attorney than by handling a claim on their own.
Contact Our Oklahoma City Legal Team Today For A Free Consultation
When the stakes are high after an accident and compensation is on the line, you need a skilled trial lawyer who can represent your interests at the negotiating table and in the courtroom. Laird Hammons Laird Personal Injury Lawyers has the experience and skills to fight for the compensation you deserve after your accident. Contact us today at (405) 497-0480 for a free consultation to discuss your case and how we can help.
