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the insurance company offered me one amount i rejected this offer and countered their offer (not an obsurd amount)their first offer was $11,000.00 and my counter offer was $23,200.00. could they come back with an even smaller amount?

2007-02-19 02:42:58 · 5 answers · asked by impreshun 2 in Business & Finance Insurance

5 answers

They can offer you whatever they want to. They generally will offer you whatever they feel is a fair settlement amount based on your injuries and medical costs.

I don't know what your injuries were but the two of you seem to be pretty far apart at the moment. You have the option of hiring an attorney but remember, if you do that, you are going to pay 1/3 of whatever you get to the attorney. If it goes to court, a jury could award you a lot more or they could award you a lot less.

What were your total medical bills and do you have any permant injuries, i.e., permanent scaring, permanent limp, etc.

If you honestly didn't think the $11,000 offer was an absurd amount, why did you counter with $23,200.00?

2007-02-19 03:05:43 · answer #1 · answered by Faye H 6 · 0 0

They could, but the courts would not look kindly at all to hear that the insurer is playing games like that. Unless the insurer has new information that would cause them to justify retracting their first offer and submiting a lower offer, the courts will come down hard on any party that is negotiating in bad faith and causing the courts to waste time hearing a case that could've been settled out of court. So the most likely results will be a counter counter-offer (that's higher than their first but lower than your counter-offer), accepting your offer or refusing to accept anything higher than $11 000.00. Like any good chess game this it is all about manoeuvering, but keep in mind your lawyer's metre is still running. Holding out for more might mean you will wind up with less.

2007-02-19 09:10:33 · answer #2 · answered by Gambit 7 · 0 0

They generally don't, but they can...I've done it as a result of the person sharing information with me I didn't know of in the beginning (like they were in a wreck the day before and claimed injury). But I've also raised my offer substantially due to the same thing.

My advice to you, you better have a darn good reason for rejecting their offer (and it's not enough isn't a good reason) because if you don't, they'll stand on it.....I've done this too.

2007-02-19 14:15:30 · answer #3 · answered by bundysmom 6 · 0 0

Sure they can! They can ALSO not counter at all, and just wait a few months to see what happens. They can refuse to settle (after all, there's no offer on the table since you rejected it!) and make you sue.

2007-02-19 04:13:42 · answer #4 · answered by Anonymous 7 · 0 0

Technically they can come back with any number, or no number at all. Are you prepared to file suit?

Typically they will come in with a number higher than their initial $11k and lower than your $23... unless they stick to the $11k

2007-02-19 02:49:11 · answer #5 · answered by AriesJWR 4 · 2 0

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