As much as insurance companies provide a crucial safety net for millions of Americans, they are ultimately just as concerned with making a profit for their shareholders as they are with providing services to their policyholders. To do right by their shareholders, insurers may look to pay out as little as possible. A number of techniques are regularly employed by insurance companies to minimize payouts. You should be aware of them so that your rights are respected and you receive just compensation.
In this article, we’ll reveal different “tricks of the trade” that insurers use. If you feel that an insurer is unfairly exploiting your situation, please do not hesitate to contact our personal injury lawyers.
Representation is Discouraged
Some insurers may discourage an adverse party, or even their own insured, from hiring attorneys despite the fact that they employ attorneys who specialize in challenging and weakening claims. Be wary of insurance companies that say you must handle your claim on your own. In some cases, they may assert that hiring an attorney will prolong the process or be a waste of money. Consider asking yourself – why would an insurer want a quick payout if not to reduce the amount they have to pay?
Driven By Profit
The goal of every business, including insurance providers, is to make a profit. In order to increase their profits, your insurance company may deny, delay, or lowball your claim. To counter their tactics, you will need to show that they overlooked an essential piece of information. You might want to consider whether you have any documentation showing the extent of your losses, such as medical records, employment records, or photographs of the crash site. No matter what the situation is, avoid agreeing to a lowball settlement. Once you accept a settlement, your claim is closed, and an attorney can likely no longer assist you.
Lack of Transparency and Minimization
Insurance companies often fail to be completely transparent with policyholders or may minimize the collection of information. Additionally, their practices may also involve assigning blame for the accident to the injured party, recording and using their statements against them, or pressuring the client to accept lower settlements.
At Dempsey, Roberts & Smith, we are familiar with these types of situations. If you have been involved in an accident, we recommend that you contact our firm right away. It is our top priority to protect your interests and obtain the compensation you are entitled to.
Schedule a Free Consultation with an Experienced Henderson Personal Injury Attorney
For a free consultation with an experienced Henderson personal injury lawyer, call Dempsey, Roberts & Smith, Ltd. at (702) 388-1216. We are ready to help.