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It's okay to make a counteroffer when an insurance company offers a settlement, but you have to make an educated decision before moving forward. These are some of the questions you should go over with your attorney: Is the counteroffer a sufficient settlement offer?
Rather, ask why the adjuster has provided this extremely low figure. You should then write a formal letter of response in which you state that you don't find the initial low settlement offer acceptable, listing the reasons why and concluding with a demand for a higher settlement offer.
Tips for Negotiating With an Insurance Claims Adjuster Come well-prepared with supporting evidence. Records and documentation are critical components of the process. ... Calculate a full settlement amount. ... Know your bottom line. ... Beware of the first offer. ... Get the settlement offer in writing. ... Read the fine print.
A good settlement agreement is fair and reasonable to both parties involved. Whilst the agreed payment and included clauses depend on your unique circumstances, the average settlement agreement should include: Terms and conditions that are clear and comprehensive, with no room for ambiguity.
Finally, draft a counteroffer in the form of a letter. Start by summarizing the adjuster's offer and tell the adjuster that the offer is rejected. Explain, point by point, why the offer is too low. If you have any bills or other documents to prove your damages that you haven't already provided, you should attach those.