Whether you have a property claim, bad-faith insurance claim or other kind of situation going on, you need to know how to approach the situation to make the most out of it. The right attitude and conversations can make a difference in how much you get out of your claim.
When you speak with an insurance agent or you start to put together a claim, you might think that it will be helpful if you tell them that you’re willing to negotiate. The reality is that stating that you want to settle won’t necessarily get you a better offer, and it could result in the insurance company making you a lower offer than you want.
Don’t offer to settle with the insurance agency
Initially, you may feel that a settlement would be the best way to go, and in truth, it might be. However, you don’t necessarily want the insurance company to know that. If the insurance company thinks instead that you’re considering a lawsuit and are willing to go to court, it may be more likely to offer you a fair settlement offer to get you to reconsider.
Insurance companies have power, but you have leverage, too
While you may think that insurance companies have all the power, the truth is that you do, too. You don’t need to show your hand too early. Instead, allowing the insurance company to be unsure of if you’re willing to take them to court is a good option. Rerouting their calls to your attorney’s office is an excellent choice, too, making sure that your attorney is kept in the loop and can negotiate with the company on your behalf.
Insurance companies are not on your side
You need to keep in mind that insurance companies aren’t on your side. They are businesses, and their goals include making money and reducing the amount paid to those who are making claims. Your insurance agent may be kind, but they are not going to make their best offer right away or without negotiation. Keep that in mind, so you can take steps to protect your interests.