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Can I Negotiate My Insurance Settlement On My Own in New Jersey?

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Posted on by Accel Admin
Two people in business attire are shaking hands over a table with documents and a calculator on it, suggesting a successful meeting or agreement. The focus is on the handshake.

When you are involved in an accident and experience some sort of injury, damage, or loss, one of the first things you should do is contact either your or the at-fault party’s insurance company. You can file and negotiate for an insurance settlement either on your own or with the help of a skilled legal representative. Continue reading for more information and contact a skilled New Jersey personal injury lawyer to set up your free consultation today.

Can I Negotiate My Insurance Settlement On My Own in NJ?

Yes, in New Jersey you can negotiate an insurance settlement without professional legal representation. Insurance companies will generally review your claim and either deny it or offer a settlement. While this process may seem straightforward, it is anything but.

The insurance provider will likely offer a lowball settlement in hopes of avoiding paying you the compensation you deserve. For those without a legal background, it can be easy to be taken advantage of during the process, which is why it is recommended that you hire an experienced injury attorney.

What Are the Risks of Settling Without a Lawyer?

While the idea of negotiating your own settlement may sound good, especially when you consider that you can avoid the cost of hiring a lawyer, it can be risky to forgo counsel during this process. Some common risks associated with accepting a settlement without consulting a lawyer include the following.

  1. Underestimating the cost of your damages and accepting a settlement that does not account for physical pain, emotional distress, future expenses, etc.
  2. Lacking knowledge regarding your rights, insurance policies, legal jargon, insurance law, and regulations
  3. Making mistakes or missing deadlines that can prevent you from recovering compensation
  4. Missing critical evidence and documentation to support your claim and build a strong case
  5. Being taken advantage of during negotiations as insurance adjusters are trained and can implement tactics like delaying your claim, refusing to respond, pressuring you to settle quickly, and more
  6. Succumbing to the stress of negotiations as the process can be time-consuming and overwhelming while you attempt to recover and balance the responsibilities of your everyday life

Your lawyer will have the experience and knowledge necessary to help guide you through the process. They will be able to gather effective evidence to support your claim, draft the letter of demand, negotiate on your behalf, counter any tactics used by the insurance adjuster, and help you secure the compensation you deserve.

While it may seem appealing to handle the claim on your own, especially if the situation and damages are minor, it is always worthwhile to consult with a legal professional first. Reach out to a skilled attorney at Rubenstein, Berliner & Shinrod, LLC to set up your free consultation today.

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