How to Get a Larger Settlement After Your Wreck

Here’s how you can negotiate a higher settlement.

Get Checked Out for Medical Issues
You may feel fine after the accident and think there is no reason to get checked out.  At the moment, however, adrenaline is rushing and your body “overrides” the pain to ensure your survival.  It’s a lot harder to go back after a claim has been settled and re-open it for medical issues.

This medical exam will also help when you’re negotiating your settlement later on.

Know the Value of Your Vehicle
Vehicle prices range widely, even when the vehicle is the same make, model, and trim level.  To recover the full replacement value, you want to know the precise value.

This can be done online using Kelley Blue Book or NADA guides.  Be sure to include any upgrades you have made and their costs (window tinting, new stereo, custom seats, and the like).  Your goal here is to show that the vehicle is worth as much as possible.

Be Ready to Wait for a Settlement 
You don’t have to settle right away.  In fact, it’s almost always in your best interest not to take the first offer from the insurance company.  The insurance company doesn’t want to keep open claims on their books.  They want them to be cleared off as quickly as possible.  Not taking the first offer for settlement, your claim can be escalated to someone that will give a better offer.

This does not mean, however, that you have to wait for months to negotiate a better offer.  Next, we will look at how you can use the previous steps to get a settlement that you are happy with.

Negotiate with the Claims Representative
When you file a claim for an accident, the adjuster will look it all over and determine the lowest reasonable offer.  It will be put in front of the representative, who will have very little “wiggle” room to adjust the amount that you receive.

Looking back at our hypothetical situation above where you need $8,500 to fully replace your property.  When you have spoken with the representative, you can use language like this:

“According to Kelley Blue Book and NADA Guides, replacing my vehicle will cost $8,500, and that does not take into account the added value for the MP3 player and the tinted windows.  Also, I fear that medical issues will become apparent that are not noticeable today.  I feel a fair settlement would be $10,500, but I am willing to accept $8,500 if we can settle today.”

It’s not an outrageous increase, you have the data to prove the value, and most insurance companies will be willing to pay a fair settlement amount in order to get this claim off their books.