Insurance companies are in the business of making money. Despite their claims to the contrary, these companies care far more about protecting their profit margins than they do about protecting injury victims. Because of this, if the insurance company is unable to deny your claim, their next best option will be to resolve it through a settlement as quickly as possible.
Insurance companies often approach potential claimants with a settlement deal while they are still in the hospital and before they have even filed a claim. At Rand Spear, we know how insurance companies think. Our experienced personal injury lawyers can help you secure a settlement deal that works best for you, not for the insurer.
Insurance Companies are Not Your Friends
The most important thing to understand when dealing with an insurance company after an accident is that they do not have your best interests at heart. We have all seen the ads where these companies attempt to portray themselves as your friendly neighbors, ready to lend a helping hand.
However, the reality is that these companies would rather spend their money on expensive ad campaigns designed to trick you than simply pay you the money to which you are entitled after an accident. When they are successful, accident victims tend to take them at their word because they are under the impression that the insurer is doing everything they can to help.
This deception helps these companies when they swoop in after an injury, offering a settlement. Injury victims often view this as the insurer going the extra mile to get them the money they need. However, in reality, the amount being offered is likely only a small fraction of the full value of the claim, and by accepting it, the victim loses their right to pursue further compensation.
Other Tactics Used By Insurers to Minimize the Amount They Have to Pay
Unfortunately, this tactic is just one of several that insurance companies will use to settle your case for far less than it is worth. Some of the other tricks these companies will likely attempt to employ include:
- Getting you to make a recorded statement
- Getting you to give them access to your medical records
- Surveilling you
- Trying to slow down your case
Getting You to Make a Recorded Statement
A common tactic these companies employ is to get you to make a recorded statement about your accident as soon as possible. When making this statement, the insurer will ask a variety of questions designed to make you seem to contradict yourself. They are trained to ask questions that can be confusing and misleading.
If they succeed in tripping you up, they will likely attempt to use your recorded statement to suggest that you were partially or fully responsible for the accident so they can deny your claim.
Getting You to Give Them Access to Your Medical Records
Another common trick is to get you to grant the insurer authorized access to your medical records. They will likely suggest that they need access to evaluate the extent of your damages so they can determine a fair value for your settlement agreement.
However, they are really looking for any pre-existing conditions or other information from your full medical history that they can use to devalue your claim.
Insurance companies love the modern age where social media abounds. While there is a strong possibility that these companies will hire someone to follow you around after your accident, you can nearly guarantee that they will be monitoring your social media apps.
The aim of this surveillance will be to attempt to find something that suggests your injury is not as serious as you claim. It is critical to note that even a seemingly innocent comment, or a picture you post after your injury, can be used against you.
Trying to Slow Down the Case
While their first tactic will likely be to attempt to settle your case as quickly as possible, if that doesn’t work, the insurer may instead try to slow the process down as much as possible. These companies figure they can outwait you. They are in no hurry to pay, but the more time passes, the more you will likely be eager to recover money as your expenses grow.
While they will still likely try to avoid going to court (because a trial costs money), the longer they can stretch the settlement process out, the stronger their position will become.
Hiring a Lawyer Is the Best Way to Protect Yourself Against Predatory Insurers
Whatever tricks an insurer employs to try to deny or devalue your claim, the best protection is to hire an experienced personal injury lawyer as soon as possible. Decline to speak to the insurer until you have hired legal representation, and stay off social media until your claim has been settled.
When you hire an attorney, the insurer will be unable to contact you directly. When insurance companies are forced to deal with lawyers, it helps to level the playing field. These companies are no longer able to resort to the tricks they attempt to use against accident victims and must negotiate in a fair and reasonable manner.
Schedule a Free Consultation With an Experienced Personal Injury Lawyer Today
At Rand Spear, we understand the challenges accident victims face when dealing with insurance companies. Our team of personal injury lawyers will work diligently to protect you from the tricks used by insurers and negotiate a settlement deal on your terms.
Contact us today by phone or through our website to schedule a free case evaluation with a member of our legal team.