A lot of variables go into negotiating your personal injury settlement. Watch this video to learn negotiating tips with an insurance company!
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Transcript:
How much should I ask for in a personal injury settlement?
Well, if you hire Ali Awad, we're going to ask for a lot of money, but that doesn't necessarily mean you're going to get it. Every time. I have a case where we've been working on it for a little over two years now. The client was involved and he was hit with a tractor trailer and there was $2 million in coverage on that policy, but client's injuries weren't that serious. He went and saw the orthopedic doctor. He didn't need any sort of surgeries, didn't have any traumatic brain injury, didn't have any future recommended procedures. For all intents and purposes, it was considered a minor impact.
Now, even though there were minor injuries, we still sent a demand to the insurance company for the full $2 million. And when we relayed that to the client, he automatically assumed he was going to make $2 million, and he already started spending the money. He legit went and booked a vacation package with his wife, started going into debt, took out $40,000 in loans and started just really blowing the money that he hadn't even earned yet.
The problem was that the case was really only worth maybe in the low six-figure category. Luckily, we were able to settle that case at mediation for $250,000. But why would we ask for $2 million when we know the value of the case is significantly less? Well, this is a basic negotiation tactic. In any negotiation, information is your friend. The more information you have about the other party, how much money they have on the table, how much they're willing to pay, how much your case is worth, all of this information is beneficial in a negotiation.
So if we don't know exactly how much the other party is willing to pay, you should start at a very high number and you should expect that they're going to come back and give you a counter offer. We started at two million and their first offer was $20,000. So obviously there was a lot of room to make up for that. So in most cases, we start at the policy limits, whatever the entire insurance policy amount is and then we negotiate from there. A lot of times if you have a strong enough case, you can settle for the entire policy limits, whether that's 25,000, 50,000, 100,000 or a million dollars, the insurance company will pay you if you've built up the case properly.
So as a general rule, you should always ask for the most amount of money possible in the event that there's a piece of information you don't know and you might end up with a much higher settlement and a lot of money. If you want to know how we maximize the value of our cases, take a look at some of my videos about MRIs, punitive damages, and UM and resident/relative coverage. Those videos go into more detail about how you can get more money on your case even when you thought there was nothing left.
I'm attorney Ali Awad, the CEO Lawyer. I hope this video has answered the question about how much you should ask for in a personal injury settlement. It would mean the world to me if you subscribe to my channel and watch my videos because I'm always looking to add value for you. I'm attorney Ali, the CEO Lawyer. Thank you so much for watching my video. Take care.
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If you get into a car accident, do this first:

1. Call the police
2. Take pictures and videos of the accident scene
3. Go to a doctor
4. Call a personal injury lawyer

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If you want to know how much your personal injury case is worth, contact me here:

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ALI AWAD LAW, P.C.
200 Peachtree St NW Suite 201,
Atlanta, GA 30303
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