Agree On These Keys Things Before Starting Your Car Accident Arbitration

Arbitration is a good way of dealing with car accident claims, but only if you approach it right. For example, there are things you should agree on before sitting down with the arbitrator; here are some of those things:

The Choice of Arbitrator

You have a say on who should arbitrate your case. Even if the insurance company is the one that suggests the possible arbitrators, you can reject them if you don't think they will do a good work. A good arbitrator should be honest and impartial; you don't want someone who will lean on the insurance company's side for favors. That is why you should research the potential arbitrators and weed out tainted characters so that you can agree on a good choice for both parties.

High-Low Numbers

In arbitration, it is common for both parties to agree to high-low numbers. These numbers represent the maximum and minimum figures that you will receive irrespective of the arbitrator's determination. The arbitrator is not told about the agreement so that they cannot be swayed by the figures. For example, you may agree that you will not receive anything more than $100,000 even if the arbitrator awards more than that and you won't receive anything less than $20,000 even if the arbitrator's figure is less than that. The high-low agreement protects both parties in case the arbitration ends up producing an unreasonably low or high figure so you should be keen on it.

Rules of Presenting Evidence

Arbitration is like an informal trial so the rules tend to be more relaxed than the usual rules of actual accident trials in formal courts. However, both parties should agree on just how relaxed the rules should be so that no side is disadvantaged during the arbitration. Do you want independent witnesses to scrutinize and legitimize the evidence? Or maybe you want every witness' testimony to be double checked for accuracy? Those are some of the things you should agree on first before starting the arbitration proper.

Who Pays the Arbitrator's Fee

This is the fourth thing you should agree on so that it doesn't bring disagreements later on. Don't assume that the insurance company will shoulder the arbitrator's fees because they have more financial muscle than you. There are cases where the insurance company splits with fees with the plaintiff; if that is the case, you should agree on the percentages beforehand.

You are not required to enlist the help of a car accident lawyer during arbitration, but it certainly helps to have one; expect the insurance company to have one too.