Low Ball Offer From Your Insurance? // Springs Law Group #colorado

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Transcript:
What should you do if you get a lowball offer from the insurance company? Hi, I'm Attorney Chris nicolaysen from springs Law Group. And today I want to talk about how do you handle lowball offers. So in reality, I think you can handle it in one of three ways. First, you can accept the offer. Second, you can reject it outright. Or third, you can make a counter offer or a counter proposal to the insurance company. So think about it this way, if you accept it, that means you're accepting the lowball offer that you're unhappy with. So you have to look at like when that offer is coming, is that offer coming right away at the beginning of the case, when nothing has actually happened? Or is it coming later in the case after you've sent a demand, and after they insurance company has had a chance to review your medical records and bills and take a look at the case as a whole. So you have to look at it there too. And next is you can reject it outright, you can just say no, I'm not accepting your offer at all. And you either take my offer, or I'm not accepting. So what happens if you reject outright odds are on hand and that you're going to have to file a lawsuit, which means you're going to have to file something through the courts when that's when you're going to sue the other side. And so that generally is what happens after a full rejection of that offer during the negotiation process. And lastly, you can do a counteroffer or a counter proposal. That would be you're saying, I don't like your lowball offer. So I'm gonna go with from my offer. So let's say your offer was up here, they give you one way down here, you move down a little bit. And then you see can I get any movement from them from that lowball offer or not. And if that happens, then you have a true negotiation happening in that negotiation process where you're starting, wait, you know, up here, they're down here, what their lowball and you're getting movement, that means both sides are giving something up. Now, sometimes your movement may be much bigger than what their move up would be. But it just depends. And there's a back and forth process with that. And that can be taxing and emotional on yourself, as you're going back and forth. There can be frustrations that go along with that. So the question you have to ask yourself is which way do you want to go? Do you want to accept the offer, reject the offer, or give a counter proposal? And usually that's, you know, we recommend trying to negotiate but if you get stuck, if you're making moves and they're not doing anything, then it's time to file a lawsuit. And if you have questions about that, if you've gotten an or received a lowball offer from an insurance company, feel free and reach out to us here at springs Law Group. We'd be happy to talk to you.