3 Key Tips to Get the Highest Settlement Amounts
Even though television shows and movies are full of courtroom scenes, many people will never see the inside of one. In fact, 97% of civil cases are either settled or dismissed before they get to court.
When you consider attorney fees, court costs, and how long it takes a case to get resolved in court, most people prefer a settlement. But, you want to make sure you’re still getting the compensation you deserve and not accepting too low of a settlement. So how do you know if the settlement you’re offered is a good one?
Keep reading to discover the best tips to help you get the highest settlement amounts possible.
Table of Contents
1. Never Accept the First Offers
If you’re wondering how to get a high settlement amount, the number one piece of advice is to never accept the first offer.
While accepting the first settlement offer will result in receiving compensation sooner, the first offer is generally a low-ball offer. Insurance adjusters offer low settlement amounts to see how knowledgeable you are about the compensation you deserve and test your patience level.
You should also consider whether you want a structured or lump sum settlement. With a structured sum, you get a certain number of set payments over a period of time. But, with a lump sum settlement, you receive the full amount all at once.
When you deny the first offer, it’s customary that you counteroffer with what you believe you deserve. Also, include your strongest reasons backing up your case.
2. Have Evidence to Back up Your Claim
When countering your settlement price, it’s good to have solid evidence to back up your claim.
The exact evidence you provide will depend on the type of case and settlement you’re dealing with. If you’re dealing with a vehicle accident settlement, medical records and damage estimates are great evidence. Or, if you’re dealing with a slip and fall case, witness testimonies or video evidence can help.
3. Enlist the Help of an Attorney
If your counteroffer is declined, then it’s probably time to seek structured settlement help through an attorney.
Attorneys are experts at negotiating settlements and backing up legal claims. They can help justify the amount you’re requesting and negotiate an amount that all parties agree on. They can even help you navigate the court process if the insurance adjuster is not willing to provide the settlement you deserve.
Don’t Settle for Low Settlement Amounts
By following these simple steps, you can help ensure that you get the highest settlement amounts possible. Never settle for an amount that you believe is less than what you deserve.
Instead, start by denying the insurance adjusters first, low offer. When you counteroffer, make sure you have solid evidence backing up your claims, such as damage estimates or medical records. If your counteroffer is denied, this is the right time to enlist the help of an experienced attorney.
Interested in investing your settlement money by starting a profitable business? If so, head to the Business Stuff section of this website for all the content you need to help start a successful business.