What to Do When You Disagree with the Insurance Company’s Valuation of Your Claim
Being involved in a car accident that was not your fault is a stressful experience, and dealing with insurance companies can add to this stress, especially when you disagree with their valuation of your claim. At Avard Law Offices, we understand the complexities of dealing with insurance claims and are here to guide you through this challenging process. This post aims to enlighten you about what steps to take if you find yourself disagreeing with an insurance company’s assessment of your claim.
Understanding Insurance Company Valuations
First, it’s important to understand how insurance companies determine the value of a claim. They typically look at the costs of vehicle repairs, medical expenses, lost wages, and other tangible losses. However, they may not fully account for non-economic damages like pain and suffering, emotional distress, or reduced quality of life. Their primary goal is to settle claims as quickly and cost-effectively as possible, which may not align with your best interests.
1. Review the Settlement Offer Carefully
When you receive a settlement offer, review it meticulously. Compare it with your own calculations of damages, including all medical expenses, repair bills, and any other losses incurred due to the accident. Make sure you understand the terms and conditions of the settlement offer.
2. Collect Adequate Evidence
Strong evidence is key to negotiating with insurance companies. This includes medical records, bills, proof of lost wages, photographs of the accident scene and damages, and any other documentation that supports your claim. A detailed doctor’s report can particularly strengthen your case, especially for non-economic damages.
3. Understand Your Policy and Florida Law
Familiarize yourself with your insurance policy and the relevant Florida state laws. Understanding your coverage limits, the concept of comparative negligence (which Florida follows), and your legal rights can significantly help during negotiations.
4. Communicate Effectively and Professionally
When responding to the insurance company, maintain a professional tone. Clearly articulate why you believe the valuation is inadequate. Provide a detailed counter-offer supported by your evidence.
5. Consider Hiring a Professional Appraiser
For disputes regarding the value of property damage, hiring a professional appraiser can provide an independent assessment. This can be a powerful tool in negotiations, especially when there is a significant discrepancy between your valuation and the insurance company’s offer.
6. Engage a Lawyer
Consulting with a lawyer experienced in personal injury and insurance claims can be a game-changer. At Avard Law Offices, we have a deep understanding of the tactics used by insurance companies and can help level the playing field. A lawyer can handle all communications, ensuring your interests are adequately represented.
7. Be Prepared to Negotiate
Negotiating with insurance companies can be a lengthy process. Be patient but persistent. With the right evidence and approach, many insurance companies are willing to revise their initial offers.
8. Explore Alternative Dispute Resolution
If negotiations reach a stalemate, consider mediation or arbitration. These alternative dispute resolution methods can be less costly and time-consuming than going to court.
9. Know When to Litigate
If all else fails, litigation might be necessary. This is a significant step and should be considered carefully, weighing the potential costs and benefits. Your attorney can advise you on whether this is a viable option for your situation.
Conclusion
Disagreeing with an insurance company’s valuation of your claim can be daunting, but it’s important to stand up for what you rightfully deserve. At Avard Law Offices, we are committed to advocating for our clients’ best interests and guiding them through every step of this complex process. If you’re facing such a situation, don’t hesitate to seek professional legal assistance to ensure your rights are protected and you receive fair compensation.