Negotiating a settlement with an insurance adjuster demands a business like attitude and a good understanding of the claims process. And of course, it takes preparation. To prepare for such negotiations there are three things to remember: know your rights, have thorough documentation, and be able to verify your claim. By being prepared in this way your negotiating skills will be utilized most effectively. The dynamics of good negotiation are characterized by six interrelated elements; preparation, common sense, objectivity, principle, communication, and compromise. Preparation is a must! Have all your documentation close at hand in order to substantiate your claim. Common sense or good sound judgment will always be your best ally. Recognize what is relevant vs. irrelevant, material vs. immaterial, fact vs. fiction. Be Objective. Objectivity is the concentrated effort to see things clearly and without bias or prejudice. By being objective you can easily identify whether statements are made in good faith. How do you maintain this objectivity? The most effective way is by sticking to the relevant issues of the claim, recognizing how your views are similar or dissimilar to the adjuster's, avoiding the sway of emotion or pressure, not relying on unsubstantiated statements, and verifying statements through qualified sources. At times it can be very challenging to maintain an objective attitude while negotiating. Your objectivity will be borne out by your open-mindedness toward the issues and your ability to recognize others perspective. When settling your claim use a principled approach. Be sure that you, the adjuster, and others involved maintain a professional attitude. Be straight forward in your communications and do not become emotionally affected by unreasonable assertions. Do not yield to pressure, intimidation, evasion or unreasonable negotiation procedures. Effective communication is a product of accessibility, having a positive attitude, and concentration. Accessibility is maintained by first finding out the adjuster's daily routine. Adjuster's work schedules are open. They do not punch a time-clock and are usually available at any reasonable hour. Speak optimistically as though your every statement is simply a breath away from happening. Show confidence, carry a look of success, and espouse an attitude that the claim will be resolved only through fairness, honesty and reasonableness. Compromise is not compliance! It is the ability to recognize two differing viewpoints, finding the most reasonable value for each and comparing them. The following example describes how to approach a compromise on the value of personal property, in this case an antique clock. Identify IssuesThe antique clock is 102 years old. It is located in an area of the home where it was seldom seen. The adjuster may contend that its usefulness is very little, therefor its value is low. Your view of the antique clock is based on characteristics of the antique clock itself. It is of Swiss origin, was a limited production, is a collectors item, and has been a family heirloom for generations. Determine ValueHaving identified the issues a reasonable value can then be placed on each. Those issues that are irrelevant or remote should be set aside. In this case the adjuster's opinion of the usefulness, and your view of it's sentimental value can be eliminated since they are not relevant to the value. Compare & CompromiseSince the issues are clear and accountable the value attached to each can easily be determined by simply attaching a reasonable value to each. At this pint you and the adjuster can go over the prices together and calculate the results. You are entitled to have the actual cash value of an antique clock with the same options as the original and the adjuster is assured that their will be no sentimental value considered in the process. What happens when agreement over the value of property cannot be reached? Most policies have a provision which sets out a method to resolve such disputes. It is called the Appraisal Clause. It is used to decide those value issues that you and the adjuster cannot resolve between yourselves. It does not resolve any other type of disagreement such as liability, policy interpretation, etc. It is unlikely that you or the insurer will opt for an appraisal. However, it is useful to you in the event that a disagreement in price is so significant that you would be less than fairly indemnified. The procedure for appraisal is where you and the insurer each select an impartial individual. These two people are referred to as appraisers. They can be any competent and disinterested person so long as they exercise good judgment and impartiality. For example, a contractor or someone who is familiar with construction would act as a good appraiser since they have knowledge of the costs for materials, labor, licenses, etc. However, a contractor who has submitted a bid to you for restorations would not qualify since they have a financial interest in the outcome of the appraisal. The same holds true for an agent or employee of the insurance company. If you have reason to believe that an appraiser is not qualified, competent or impartial, provide written notice to that affect to the insurer immediately. Once you have accepted the insurers appraiser and they have accepted yours, the two appraisers will then select one other person. If they cannot agree on someone you or the insurer can ask a local judge to select someone. This third appraiser is called an umpire. He will be used to break any deadlocks between the two appraisers. You and the insurance adjuster will provide a list of the unresolved items to the appraisers and they will determine a fair price and resolve the dispute. If you or the insurer request an appraisal timely notices must be made. Firstly, a written notice of intent must be sent by the party initiating the appraisal to the other. Secondly, within 20 days after receipt of this notice each party must provide the other with the identity of their appraiser. Thirdly, providing there is no disagreement regarding the qualifications of either appraiser, the appraisers must select an umpire within 15 days. Once that is done the two appraisers, with the help of the umpire if needed, will resolve the issues and notify you and the insurer of the results. If it has been more than sixty days since you filed your Proof of Loss and the insurance company has not notified you of any dispute they have with your claim they waive their right to the appraisal process and are obligated to pay the full amount as you indicated in your Proof of Loss. The costs for the appraisal are shared by both you and the insurer. You pay for your appraiser, the insurer pays for theirs. And the umpire costs are split between you and the insurer. The three are normally paid on an hourly basis plus expenses, and never on a commission basis.Use of this site is subject to certain Terms of Use which constitute a legal agreement
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