What To Know About Insurance Companies

When it comes to insurance companies, you may wish you had the inside scoop. Insurance companies can cause a tremendous amount of trouble after a personal injury accident and they can make filing your claim so much more difficult. While it should be straightforward to file your injury claim, the best thing you can do for yourself and for your shot at getting a fair settlement is to work with a lawyer. A lawyer will know the ins and outs of personal injury claims and they will also know how to best negotiate with the insurance company that is involved in your claim. 

Isn’t it the insurance company’s job to make a settlement? 

Many people think that insurance companies are legally obligated to make a settlement because that’s what we pay them for right? Not necessarily. In fact, an insurance company is primarily out to make money for itself in hopes that its clients do not need the insurance. When a client does need insurance coverage, the company will fight tooth and nail to shell out as little cash as possible. This is why many people end up getting very low settlements. The insurance agents know that many people are too scared to risk losing their settlements (even if they are very low settlements), so they will accept an offer much lower than what they actually need. 

What kinds of tactics should you watch out for? 

As a lawyer, like a Charlotte, NC personal injury lawyer from a law firm like Schehr Law, PLLC knows, there are many kinds of tactics that insurance companies will use to pay no settlement or a very small settlement. 

  1. “Requiring” a statement. Many insurance companies may try to get you to send over your medical records or say that you need to provide them with a statement before you move forward with the claim. You are not required to provide them with either of these things and should have your lawyer be the one to pursue communication.
  2. Putting pressure on you to accept an offer. An agent may be hounding you to accept the offer they have given you. When you accept the offer, you are done with the personal injury claim and cannot pursue any further legal compensation from them for this claim. The agent will typically encourage you to not even take the time to speak with your lawyer but accept the claim with them and sign any contracts. 
  3. Undervaluing the injury expenses and medical bills you have. Another tactic that insurance agents may try to pull is telling you that your claim is not worth as much as you are trying to get compensation for. Your lawyer will have itemized lists, receipts, bills, and perhaps even medical experts who can help to provide an accurate idea of what your claim is truly worth, not what the insurance company is attempting to get away with. 

When you need help following your accident, do not rely on yourself to recover and file a legal claim. Many insurance agents are waiting for people with no representation. Reach out to a trusted lawyer today.