Disclaimer: This article provides general information and does not constitute legal advice. Consult a qualified attorney for advice about your situation.
Detailed Answer
Understanding the Initial Settlement Proposal
When you file an insurance claim in Oklahoma, the adjuster reviews your damages, medical records, and repair estimates before issuing an initial settlement offer. This first offer often serves as a baseline for negotiations but may not reflect the full value of your claim.
Oklahoma’s Good Faith Negotiation Requirements
Under Oklahoma law, insurers must handle claims in good faith. Title 36 O.S. §1250.3 prohibits unfair settlement practices—such as lowball offers or unreasonable delays—and requires insurers to thoroughly investigate valid claims (36 O.S. §1250.3). Insurers must also pay approved claims promptly once liability and damages are clear (36 O.S. §3635).
Why You Should Consider a Counteroffer
Initial offers often underestimate actual losses. By preparing and presenting a counteroffer, you signal that you’ve documented your damages and stand ready to negotiate. A well-supported counteroffer can prompt the insurer to increase their proposal.
How to Prepare Your Counteroffer
- Document Your Losses: Gather medical bills, repair estimates, lost wage statements, and any other proof of financial loss and injury.
- Calculate Your Claim Value: Add special damages (medical expenses, property repairs) and general damages (pain and suffering). Use methods such as multiplying medical costs by a factor or comparing similar settlements.
- Draft a Clear Demand Letter: Summarize the accident, list your evidence, state your counteroffer amount, and set a reasonable deadline (e.g., 30 days) for a response.
- Maintain Professional Tone: Keep language concise and factual. Avoid emotional appeals or threats.
When to Involve an Attorney
If the insurer refuses to negotiate fairly or the counteroffer still undervalues your claim, consider hiring an attorney. In Oklahoma, you generally have two years from the date of injury to file a personal injury lawsuit (12 O.S. §95(A)). An attorney can prepare a formal demand, negotiate with greater leverage, and pursue litigation if needed.
Helpful Hints
- Keep a detailed file of all communications with the insurance adjuster.
- Be realistic but firm in valuing your damages.
- Send demand letters and counteroffers by certified mail and retain proof of delivery.
- Note any deadlines in the insurer’s initial offer to avoid forfeiting rights.
- Review consumer guides from the Oklahoma Insurance Department for additional tips.