If you were recently injured in a car accident, a slip and fall, or another type of accident, you may be able to recover compensation through a personal injury claim. However, the amount of compensation you recover – or whether you recover any money at all – will depend on how well your claim is negotiated. An experienced lawyer who has extensive experience handling negotiations can better determine the fair value of a personal injury claim. They can also handle this process so that you don’t have to worry about it.
What Is Negotiation?
Negotiation is the act of reaching a mutual agreement through discussion and compromise, a back-and-forth communication designed to reach an agreement when two parties have shared and opposing interests. While people may negotiate at various times in their lives, such as the salary for a new job or the price to pay for a new car, most people don’t negotiate every day like personal injury lawyers do.
Why Does Negotiation Matter in a Personal Injury Case?
While most people think their case will go to trial, studies indicate this is not true. Statistics show that only about 5% of civil cases go to trial. Most are resolved through a settlement. A settlement can be reached with the insurance company before any case is filed or at any point before the verdict, so there is ample opportunity for settlement negotiations to be successful.
Since it is more likely that your case will settle than go to trial, it’s imperative that you have a lawyer who is experienced at securing fair compensation for their clients through effective negotiations. A settlement can help you obtain compensation for your medical bills, lost wages, and other damages.
A study showed that 91% of people who hired a lawyer for a personal injury claim received a settlement. Only 51% of people received a settlement without a lawyer. Additionally, those who hired a lawyer often had higher settlements than those without one, even after accounting for attorney fees.
What Makes a Good Negotiator?
Some of the attributes to look for in your attorney who will handle negotiations include:
- Strong communication skills: Your lawyer should be able to effectively argue your position with a clear message.
- Preparation: Good negotiators are familiar with the surrounding circumstances. They have considered your damages and your goals, so they know what to ask for. They are also aware of the other side’s position and potential outcomes.
- Experience: Negotiation is an art form. The more often you do it, the more comfortable you get with it, and the better you can become at it.
- Adaptability: A good negotiator can take new information and adapt their approach based on it.
- Persuasiveness: Ultimately, negotiation comes down to how well one person can argue their position better. If your lawyer can convince the insurance company or defendant of their ability to be successful at trial, the defendant may agree to settle for a fair amount.
It is crucial to work with an experienced personal injury attorney who knows how to negotiate.
What Factors Affect Settlement Values?
To achieve a fair settlement, your lawyer will need to consider the various factors that can affect your claim’s value, such as:
Liability
Your lawyer begins your personal injury case by conducting a thorough investigation to determine who is at fault and the degree of fault. Illinois uses a modified comparative negligence system to apportion fault if multiple parties were at fault for the accident. If the accident victim contributed to their injuries, their damages can be reduced by their degree of fault. Your attorney will need to factor in this information before demanding any compensation.
Damages
Your lawyer will carefully document your damages to ensure they request the maximum compensation available for:
- Medical expenses
- Future medical expenses
- Lost wages
- Reduced earning capacity
- Pain and suffering
- Loss of quality of life
Keep all of your medical bills and other records to show these losses.
Insurance Policy Limits
Many personal injury claims involve negotiations with an insurance company, but the adjuster will only pay up to the policy limits. Knowing these limits before beginning negotiations can allow your attorney to demand that you be fairly compensated up to the amount of the policy. Your lawyer can also look for other sources of compensation and explain whether it is worth pursuing the defendant’s personal assets by filing a lawsuit against the negligent party.
Location
The location where the accident occurred can dramatically impact the potential value of the case. Certain venues are more favorable to injured parties, so the insurance company may be more willing to negotiate a settlement to avoid an expensive verdict. Others tend to offer lower values for non-economic damages. Your lawyer can investigate verdicts for similar cases in the location where any potential lawsuit might be filed as research to aid in negotiations.
Contact Our Personal Injury Lawyers for a Free Consultation
After you file a claim, an insurance adjuster will be assigned to your case. You can refer them to your lawyer, who can handle communications, case management, and negotiations with them. Find out more about how Kass & Moses Personal Injury Lawyers can help when you call for a free case review at (847) 513-9582.
