Negotiating an Injury Settlement: The Dos and Don’ts

In the event that you have an accident and can prove you are not responsible, you will enter into different negotiations to come to a settlement to avoid the claims getting to court. There are a few things to keep in mind to ensure that you are getting the money you believe you deserve, as well as not putting yourself through too much in the legal process.

Do Have A Price In Mind

When you first approach your injury settlement negotiations, you should develop a plan of action, primarily keeping a price in mind that you want to negotiate towards or around. Your price will be determined by the seriousness of the injuries and the costs associated with them, as well as factors in other costs that would be affected by the injury like any impact from your loss of income as well as added medical expenses. Having a base negotiating price does not mean that you want to take advantage of the other party, but mainly to ensure that you are not cutting yourself short when it comes to such negotiations and settlements. You obviously want to be financially reimbursed, but you need to approach this with some sort of flexibility, especially if you want to settle out of court.

Do Understand Your Injury Costs

In order to properly get the settlement you want or desire, you need to have costs associated with your injuries. You cannot just pull a price out of your head and expect the other parties to be open to matching. You have to back up your numbers with the associated facts, having done the math when it comes to things like your income and medical costs. Making assumptions and generalities on prices will cause your negotiations to take longer, and also open the door for the other party to falsify your claims during negotiations.

Do Not Accept The First Offer

One of the big general rules during negotiations is to never take the first offer made. The main reason for this is that, even if the offer is substantial, or even what you might be asking for, you have room to negotiate up the cost. Perhaps your numbers were conservative, and you were being more considerate about the negotiation prices you were seeking. If another party has made an offer to you, chances are the initial offer is not always the amount they are willing to part with. It will usually first be a lowball offer to see where your valuation is. Upon your counteroffer, you want to aim above your target price, as most negotiations will seek to meet somewhere in the middle of their intended negotiating amounts. Be ready to adjust your prices as well, even if they don’t quite match the outcome you are looking for. Losing a little in terms of negotiating price, but speeding up the process can save you in terms of legal fees and keep your claims from having to be brought to court, where the extended process can be even more costly to all those involved.

Do Seek Legal Consult

When you are looking at negotiations for an injury settlement, one of the considerations you should always think about is if you would benefit from legal help or advice. The experts at https://www.kazlaw.ca/ detail the benefits of having a lawyer and how far their experience and expertise will take your case and settlement negotiations. Lawyers will know the costs that are primarily associated with different settlements and will be able to get you a fair price. Additionally, with the experience and education that most lawyers will have, the process will be expedited, meaning they are going to speed things up and get you your money faster. The process of filing injury claims and negotiation can be a long and tedious one. Having a lawyer to help can make it less stressful and help you focus on your rehab and healing instead.

Do Not Fail To Document The Process

Remember that when you go through negotiations, always keep a record and documentation of the process whenever you are in discussion with any party. Keep all emails safe, and have verbal or in-person negotiations recorded or transcribed. This will ensure that any agreements are contractually obligated to be fulfilled and that there are no discrepancies and disputes that can be made at a later date.

Injury settlements should be taken care of as quickly as you can afford to do so. No one wants to deal with a long negotiation process, but you always want to know the value and worth of your health. If you can afford to prioritize your health, do not undercut yourself in terms of your settlements either. Confidence and knowledge will help you strengthen your case and allow you to come out on top.