After a serious car crash, you are left worrying about a multitude of things, such as how you are going to pay your medical bills and the cost of replacing your vehicle. Most people assume that the other party’s insurance company will provide fair compensation (if they were at fault).
When the insurance representative does contact you, they are usually very helpful and polite as they explain the settlement offer. However, it’s essential to recognize that their primary concern is not your well-being; they prioritize their bottom line.
Why insurance companies try to limit settlements
Insurance companies make money by investing the premiums they collect and not paying out large claims. Every dollar that goes to an injured person reduces their profits. Therefore, adjusters and claims representatives use strategies that reduce your claim’s value.
Some of their common tactics include:
- Offering a quick settlement: While it may seem tempting, especially if you can’t work and medical bills are piling up, these offers are often far less than what your claim is truly worth. You likely don’t know the long-term impact of some of your injuries, and accepting an offer too early could leave you without the funds you need for ongoing treatment.
- Disputing the severity of your injuries or medical treatment: They may try to argue that your injuries aren’t as serious as you claim or are unrelated to the crash. The insurance company will state certain treatments are unnecessary or too expensive. They might push back on the physical therapy or specialist care that’s essential to your recovery.
- Questioning liability: Even if the other party was obviously at fault, insurers may argue that you are partially to blame.
If you accept the initial low offer, it will quickly be used for your immediate expenses. You generally can’t go back and ask for more if your costs are much higher than expected. Future surgeries, ongoing rehabilitation and lost wages may go uncompensated.
If you’ve been injured in a car accident, you need to protect yourself against an insurance company’s tactics. Contact a legal professional who can negotiate on your behalf and help you get the compensation you deserve.
