Just like any other business, insurance companies also have their methods of making money. The pay-out amount is always the least favorable and the strategies that are used to deny claims are plenty. They figure out ways to minimize the amount paid. With the knowledge of these unrivaled truths, you can better prepare yourself for any unfortunate situations that may arise.
Do not ever sign any documents without skimming through them first because there is always fine print an adjuster will require you to fill out. Here are some pointers that insurance agencies hope you remain oblivious to:
- They Would Rather You Not Know Your Legal Rights
As horrible and terrible insurance companies can be, human beings are by nature compassionate and wish to cover additional costs as unexpected loss will surely hit. Unfortunately, these companies operate primarily to pull in as much revenue as possible – this is evidenced by the millions that these companies pour into lobbyists that stop legislators from letting people go after companies for negligence in service provision.
Insurance agencies will do practically anything to boost their profits, including denying accident scenarios or product liability claims. The best defense against this strategy is education, and in this blog post, we explain five hidden truths insurance companies don’t want you to know about.
Understanding these secrets will empower victims to obtain the damages deserved after injuries suffered. Continue reading!
- They Don’t Want You To Hire An Attorney
They will do everything possible to avoid paying out the claim and not be on your side at all. A trick that they often use is not recommending victims to hire lawyers, which in reality is very beneficial as lawyers negotiate much better settlements than the clients themselves. Their tactics would convince you that lawyers are uninspiring, slothful, or simply not needed.
Knowing how insurance adjusters prey on injuries victims is key in preserving your rights, and Daly & Black P.C. has experts who negotiate so that you get properly cared for and compensated. Mastering the concealed tactics of insurers is bound to help make the confrontation with them easier, and with legal assistance at hand, you may be able to claim what you are entitled to. Call us today for more details! 2019 Daly & Black P.C. All Rights Reserved.
- The Don’t Want You To Know How Much Money your Injuries Can Get You
It is common for public to be misinformed and as such, insurance companies are very eager to exploit this. When they say that they are trying to help you, that couldn’t be further from the truth as all they want is to maximize profit while minimizing expenses on settlement claims.
A lot of people are almost forced to accept meager amounts to settle their claims in record time. More often than not, these claims are put forward without understanding the full implications, or negative impacts, of the injuries sustained in an accident. This is why it is crucial to seek the assistance of a legal professional and have your offer properly vetted before accepting anything from an insurer.
Insurance providers try their best to hide one secret: insured parties may have their policy limits withheld until after a suit is filed. An accident lawyer in Kentucky will tell you that insurance companies are not required to make policy limits available prior to the lawsuit being filed – And that is why having a personal injury attorney on retainer is so useful. The lawyer could send a demand letter to get the information policy limits in your case and drastically increase its value.
- This Information Is Not For You: The Consequences of Your Injuries Last Much Longer
Insurance companies claim they offer services to help provide support when needed most, and put forward great marketing campaigns meant to prey on vulnerable individuals seeking aid. In reality, these are cost-driven businesses and they will do anything to minimize payout.
Much like how a dealership will classify cars as premium or less desirable, an insurer can use “insurance risk scoring” to evaluate risk and subsequently set premium pricing. In addition, this system uses accident statistics and has the capability of identifying which car models have higher accident-prone rates, potentially adding extra surcharges onto your policy.
Strict legal deadlines can make it difficult for some injury victims to take case to court, and the value assigned by insurers is often out of the client’s reach because of the low attorney fees. Knowing these strategies makes it easier to avoid being taken advantage of.
- They Don’t Want You to Know How Much Your Claim is Worth
Though insurance promises protection and assistance during distressing times, the reality behind it can be quite the opposite. As an injury lawyer, I know how insurance companies focus on making profit rather than helping customers secure their claims.
Most claims adjusters do not assist the insured, instead, they undermine the claim by offering minimal amounts that do not even begin to cover the basic expense of accompanying injuries. In addition, they also set up means to capture evidence, which includes physically observing the person and their social media interactions and tagging pictures in an attempt to use them in court.
Make sure you do not become a target to the secrets of the insurance company by getting a personal injury lawyer. A seasoned lawyer will assist you in evaluating your claim and work vigorously on your behalf. This puts you in the position of obtaining the much-needed compensation for you and your family. So be prepared to act and stay educated – Daly & Black P.C. are here to help defend these tough legal cases.
