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| *The Commerce Journal>>>Insurance |
What would lawyer costs for an auto insurance company be? |
I'm trying to work out a settlement with the auto-insurance company over an injury that happened last December. They're offering $3,500, but we want $5,000. I was wondering how much it would cost them in legal fees, and lawyer costs if we were to bring this to court. It could help in our bartering if we know they'll be saving money just settling. Thanks. Some insurance companies consider a lawyer's fees the cost of doing business. So they don't really give that consideration when they value a claim. They already have lawyers on the payroll, so it doesn't really cost them anything extra. Lawyers for insurance companies charge around $125 an hour for work they do. You will have to pay 1/3 of any settlement you get to an attorney. How long have you been in negotiations?? Is there come compromise between the $3500 the insurance company is offering and the $5000 you want?? The insurance company may want to go to court as they may feel they will prevail at a hearing and you will get nothing at all. If you case is weak, the insurance company could prevail. Especially if you had some negligence in the injury such as not wearing a seat belt or you were on your cell phone. Keep discussing settlement with the adjuster, being persistent can sometimes get the result you want. The fact is that insurance companies can always out-lawyer claimants. Realistically, you'll be better off to settle, but perhaps you can counter-offer for something in between. I had a client once that was in your shoes. It's not costing them ANYTHING in legal fees - they have staff attorneys to take care of it. |
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