Detailed Answer
When you receive an initial settlement offer from an insurance adjuster, view it as a starting point. In Virginia, you can—and often should—respond with a counteroffer to seek a fair resolution. Under Virginia Code §38.2-209, insurers must handle claims in good faith and avoid unfair settlement practices. This statute prohibits undervaluing valid claims, misrepresenting policy terms, and delaying claim payments without reason.
To prepare your counteroffer, first review your insurance policy to understand covered losses and any limits or exclusions. Gather supporting documentation such as medical bills, repair estimates, lost wage statements, and expert opinions. Calculate your total damages, then draft a clear demand letter. The letter should outline your case facts, reference policy provisions, and state the amount you request. Include copies of key documents to substantiate your figures.
Send the counteroffer to the adjuster in writing—preferably via certified mail or email with a read receipt. This approach creates a record of your communications. Insurers typically must acknowledge your counteroffer within a reasonable time. If the adjuster rejects or ignores your demand, you can pursue alternative dispute resolution methods like appraisal or mediation if your policy allows. You may also file a complaint with the Virginia Bureau of Insurance or consider retaining an attorney.
Disclaimer
This article offers general information about Virginia law and does not constitute legal advice. For advice tailored to your situation, consult a licensed attorney licensed in Virginia.
Helpful Hints
- Review your policy’s coverages, limits, and exclusions thoroughly.
- Compile detailed proof of your losses: invoices, estimates, and medical records.
- Calculate your damages realistically, including future or indirect costs.
- Write a concise, professional demand letter with document attachments.
- Send your counteroffer with proof of delivery to maintain records.
- Note deadlines in your policy and follow up if the insurer delays.
- Explore appraisal, mediation, or complaint options if negotiations stall.
- Consider hiring a Virginia-licensed attorney for complex or high-value claims.