After an injured accident victim has submitted a claim to appropriate insurance company, the insurer at that same company assigns the same claim to one of the company’s adjusters.
Organized claimants send a demand letter to the adjuster that is handling that same claimant’s case.
The adjuster responds by pointing out the strengths and weaknesses in the submitted case. Claimants have a chance to fix their claim, so that it meets with the adjuster’s approval.After viewing the altered claim, the adjuster presents the claimant with an offer.
If guided by a personal injury lawyer in Mundelein, the claimant would not accept that first offer, but would send a counteroffer. That counteroffer should be well below the adjuster’s initial bid, and slightly lower than the amount that was quoted in the demand letter.
How a claimant could get into a strong position
There should be in the claimant’s mind a figure that represents the value of the lowest acceptable bid. That same figure could be changed as the negotiation process moved forward. If the adjuster had alerted the claimant to a weakness in the demand letter, then the envisioned figure might be reduced in size. On the other hand, if the adjuster’s initial bid were to be close to the amount envisioned by the claimant, then that envisioned amount would need to be increased.
Understand that claimants’ strength would never diminish if the insurance company were to send them a reservation of rights letter. That would confirm the company’s readiness to investigate the claim. It would not function as a guarantee of payment to the injured victim/claimant.
The insurance company’s investigation would include a study of the coverage offered by the defendant’s policy. The insurance company would need to study the circumstances surrounding the injury-causing incident, in order to see if that same incident was covered by the policy’s terms.
The correct time for contacting the adjuster’s office, as the negotiations progress
If the adjuster has made an offer, and you, the claimant, want to make a counteroffer. If the adjuster’s offer was surprisingly low, and you, the claimant, want to know the reason for the exceedingly low bid. If you issued a bid, or sent a demand letter, and, still, you failed to receive an acceptable response.
Action to take in the last 2 situations
Try to learn from those in the office why you have received either a low bid, or no obvious response.
Ideally, you should be given a date when a bid or a response should be coming. Record the date given to you. If you still have not heard anything by the indicated date, then call the office and threaten to contact the adjuster’s supervisor. That approach should work.