Summary
A demand letter outlines a client’s damages and requests compensation from an insurance company, initiating negotiations.
Highlights
- Demand Letter Purpose: Communicates the extent of injuries and financial losses to the insurance company.
- Evidence Collection: Gathers medical bills and records to support the claim.
- Compensation Request: Specifies a monetary amount for settlement based on damages.
- Response Timeframe: Insurance companies typically have 21 to 30 days to respond to the demand.
- Negotiation Process: Initial demands are often countered, leading to further negotiations.
- Pain and Suffering: Highlights emotional and physical distress experienced by the client.
- Settlement Goals: Aims for a fair resolution to avoid lengthy litigation.
Transcript
What's a demand letter? We send demand letters on behalf of our clients once we understand the full extent of their damages. Now that we've gathered all your medical bills and records, we're going to put a letter together to the insurance company asking for a specific amount of money on your behalf. We'll give them time to respond, usually 21 to 30 days, and we’ll outline all the injuries and discuss the pain and suffering you've experienced throughout this event. We’ll also explain why they should pay you a certain sum to settle the case. Typically, they won't accept our demand outright; instead, they’ll make a counteroffer, and we’ll negotiate from there.
