Reader question:
When I’m filing a claim, should I make my demand right away or see what they have to offer me first?
George
It depends.
What you should consider first when you think about waiting for your adjuster to make you an offer is that adjusters have settlement ranges, and their job is to get you to agree to the lowest amount they have in that range for you. So their first offer might be from the bottom of the bucket, and that’s not the best way to start off negotiations when you’re determined to get what you’re entitled to.
It’s hard for just anybody to figure out exactly what they’re owed without help from an attorney, though. If you have a small claim, then, you probably don’t want to bother with the expense of an attorney. In this case, it’s better to wait for an offer (which tends to come pretty quick) rather than examine things more closely and possibly end up spending more than you’re going to get.
If you have a larger claim that includes extensive damage and medical bills, it’s important to hire an attorney and be certain of how much you should get, and in that case write a demand letter to the insurance company you’re making the claim with.
If you are doing things by yourself, don’t jump on the first offer. Go slow and pay attention.
Cheers,
Fashun Guadarrama.