Tips to Negotiate After Car Accident in Florida For Fair Compensation

The events that follow a bad car accident can be equally disturbing as the accident itself. You may find that your car has been destroyed. Even worse, you can get life-changing injuries. Naturally, car accident victims have questions about fair compensation after such tragic events. They rightfully demand fair compensation from insurance adjusters.

Unfortunately, the compensation valuation process that insurance companies follow can be very complicated. Their settlement offers may seem random. To make sure you don’t get low-balled, you need to enter these negotiations well-prepared. Here’s how every top auto accident attorney in Florida prepares their clients to negotiate higher settlement prices.

The negotiation period is divided into three stages –

• What to do immediately after the accident
• How to prepare for the negotiations
• What to do/say during and after the negotiations.

WHAT TO DO IMMEDIATELY AFTER A CAR ACCIDENT IN FLORIDA

Right after your injury, you’ll have to start preparing for future negotiations. But that doesn’t mean rushing into calls with your insurance agent. Your priority should be safeguarding your health. Here are the immediate steps car accident victims in Florida should take –

Use your PIP to Your Advantage

Florida is a “no-fault” state. After car accidents – all parties can ask their insurance companies for compensation, irrespective of who was at fault. All Florida drivers are obligated to have Personal Injury Protection (PIP) insurance. Use this insurance to your advantage and seek medical treatment as quickly as possible.

Know the Extent of Your Injuries

Take time to listen to settlement offers from insurance adjusters. Don’t agree to anything hastily. Unless you’re aware of the full extent of damages (physical injuries, monetary losses, and non-economic damages), you can’t determine accurate compensation amounts.

Wait for the Reservation of Rights Letter

Insurance adjusters are legally obligated to provide written statements saying that the injured victim’s claim is being investigated in Florida. Denying full/partial coverage of claims is technically unfair claim settlement practice. Wait for thirty days to receive an official Reservation of Rights Letter.

Bear in mind – official settlement negotiations take much longer than 30 days. The Reservation of Rights letter only says that the agency is investigating the claim. It doesn’t mention whether the claim is accepted/rejected.

Spend this 30-day waiting period –

• Collect the official accident report from the police.
• Create a timeline of the events leading up to the car accident that you remember.
• Track and document all accident-related medical expenses.
• If possible, take photos and videos of all involved vehicles from different angles.

PREPARING FOR NEGOTIATION 

While recovering from your injuries, assess the sunshine state’s laws regarding car accidents. Prepare for negotiations by learning your legal rights. Know what types of torts/arguments to expect from your insurance agents.

Understand How Insurance Companies Determine Car Valuations

Accident victims who own collision and comprehensive insurance should first make claims with their insurance companies. Victims who don’t have these types of coverages should plan to file claims against the at-fault drivers’ insurance agencies. Either way, here’s how insurance adjusters calculate compensation.

They Assess the Car’s ACV – In Florida, ACV or “actual cash value” of a car means the cost to replace less depreciation.” It means the insurance agency will pay to repair/replace the damaged car without deducting any cash for depreciation. The ACV of your car will depend on factors like –

• Year of manufacture
• Depreciation since sale
• Pre-accident condition of the car
• Mileage at time of the accident
• Salvageable value of parts and scrap metal

Know these details in advance. Assess the estimated retail value of your damaged car on websites like NADAguides.

Prepare a Settlement Figure

Before you create a convincing demand letter, you need to determine what your claim is worth. Assess every little detail. If the at-fault party’s insurance adjuster spots facts you hadn’t considered before, it can make your claim appear weaker. The liable party’s insurance agency is legally obligated to provide compensation for – 

• Medical bills 
• All accident-related expenses
• Lost wages
• Lost capacity to secure income
• Pain 
• Property damage
• Permanent or short-term physical disability
• Emotional suffering 

Insurance companies typically use this formula to calculate the value of personal injury claims – 

Settlement Amount = Special Damages (loss of wages, medical expenses, property damage) x total number of General Damages (emotional pain and suffering) + Lost Wages.  

This is the multiplier method. Assess the cost of your losses up to an exact dollar amount before entering negotiations.

DURING AND AFTER THE NEGOTIATIONS

Here are some “street-smart” steps to take once your insurance adjusters finally start the official negotiations – 

If you receive a low settlement offer, ask for clear justifications behind that amount. Use those justifications to create data-based counter-arguments. Keep asking for responses to your reply letters.

Emphasize the strongest factors that are in your favor. Add emotional points to your demand letters. It’s impossible for insurance agencies to deny provable emotional distress.

Once you finally reach an agreement, officially confirm the terms as quickly as possible. Ask for a letter of confirmation from your adjusters. Your insurance agents will have 20 days to fully pay the claim. For people filing Personal Injury Protection claims, the insurance company has no less than 30 days to pay the claim from the time it’s confirmed.

What if Insurers Refuse to Settle Claims?

Insurance companies always want to limit their liability. Disproving that they owe you compensation is their main goal. Your insurance agency or the liable party’s insurance company may cite these reasons to refuse to settle your claim –

• Lack of evidence
• Claim the victim had pre-existing injuries.
• Use technical jargon to confuse victims about their coverage limits.
• Delay payments.
• Not conduct adequate investigations into the accident.
• Ask victims to fill up unreasonable paperwork to process the claim.

In such situations, only an experienced Florida car accident lawyer can help victims pursue fair compensation. In the state of Florida, it’s common for insurance agencies to mistreat their uninformed customers. That’s why it’s vital to partner with a lawyer who can –

• Investigate the details of the accident
• Identify all liable parties
• Collect evidence
• Determine fair compensation amounts
• Oversee all communications with insurance agents

Top lawyers ensure all paperwork is filed with the court promptly. If you’re having trouble negotiating with your car insurance agents, seek legal help!