After a Pennsylvania car accident, knowledge is power when it comes to dealing with the insurance company. Usually, they take advantage of the fact that they have the knowledge and claimants do not. This results in people rushing to take an inadequate settlement offer when, in reality, there is no obligation to do so.
What many do not realize is that the insurance adjuster is actually the primary point person for the insurance when it comes to lowballing claims. The adjuster has access to vast amounts of information of pricing data and the value of the claim. However, their offer to pay the claim will always be lower than the value. Usually, they feel that they are in a no-lose situation. The claimant may take what they are offered without complaint, and the insurance pads their profits. If not, they are always free to negotiate further.
This is exactly why someone needs to know the value of their vehicle and claim before they file it. If not, they are at the mercy of the insurance company. A claimant should almost always reject the first offer and give their own counteroffer in the form of a demand letter explaining their position. In the demand letter, they should ask for an amount that is above their bottom line knowing that the insurance company will seldom meet their asking price.
Many can be forgiven for being intimidated by the claims process. It is always difficult to do business with another side that has an information advantage. Hiring a car accident lawyer can help bridge this gap because the lawyer deals with insurance companies on a daily basis. The attorney could help their client both document the claim and assess the value of the insurance company’s offer to know how best to negotiate a settlement agreement.