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Many Colorado drivers who are in accidents do not know that they have the ability to negotiate with an insurance company when it comes to the check they receive. Too many drivers will simply take the first offer as a given. However, you can make a counteroffer to the insurance company.

Insurance companies try to save money

No matter what they say, insurance companies will try to economize when it comes to paying you the value of your claim. The adjusters will work with the insurance company to write checks that are as small as possible. They know exactly what your claim is worth and are hoping that you do not. Therefore, the first thing you need to do when you have a claim is to learn the value of your car and the other damages that you have suffered.

You can ask for more money

Once you have a general idea of what you are owed, you can write a formal demand letter to the insurance company stating your position and how much you feel you deserve. The insurance company will either up its offer or stick with its original viewpoint. In many cases, the insurance company will have some room to maneuver because the first offer was an attempt to lowball. Note that you also have some room when it comes to your demand because the insurance company will almost never pay you what you ask. Accordingly, you should aim higher than your goal to give yourself some negotiating room.

While it is possible to negotiate with an insurance company, it is by no means easy. You may find it helpful to hire a motor vehicle accidents attorney to negotiate on your behalf. The attorney may investigate the true value of your claim to minimize the chance that the insurance company could catch you unaware. The attorney may then be able to advise when the offer reaches a level where it makes sense to accept.