Insurance company settlement tactics are designed to deny, delay, confuse and refuse injury claims.
Insurance companies employ insurance adjusters, who are highly skilled negotiators. Their entire reason for employment is to settle claims quickly, for as little money and with a little fuss as possible. If it becomes clear that you are willing to fight for a fair and reasonable settlement – the compensation you deserve – they have a whole bag of tricks they will use to confuse, obfuscate and deny your claim.
The goal for insurance companies is to make premiums and profits while limiting liabilities and payouts.
Therefore, insurance adjusters want to pay as little as possible on injury claims and settle them as quick as possible. Those suffering personal injury due to someone else’s negligence should be aware of these insurance settlement tactics.
Do Not Take the Low-Ball Offer!
The most common Insurance company settlement tactics are to attempt settling claims within 48-72 hours for a fraction of the true value of the claim. The goal of insurance companies is to settle claims before injured parties seek appropriate medical care, receive physical therapy or consultation with medical specialists and develop residual injuries over time. They want the victim to be blinded by their speed and ‘efficiency’, and will often send a check out overnight. Their hope (which works far too often…) is that you’ll weigh the value of the check in your hand against future need or deficiency that hasn’t made itself known yet.
Insurance Companies Want Quick and Cheap Settlements!
It is no surprise that insurance companies want to negotiate fast and cheap settlements. The faster the insurance company can settle the case, the less it will pay for medical bills, lost wages, out-of-pocket expenses, pain and suffering, permanent impairment and disfigurement, and consortium. In fact, it has become a common insurance company settlement tactic to discourage injured parties from seeking a lawyer. If you are injured, do not take the bait!
Pay Attention to Details!
Many insurance companies will try and trick injured parties into settling the case even when the injured party did not agree to settle the claim!
A recent call to Cowan & Hilgeman from a young lady injured in a car accident revealed that an insurance company paid her $300 for out-of-pocket expenses she incurred shortly after the accident and later argued that payment represented full and final settlement of her claims. Unfortunately, the young lady was mistaken as to the details of the payment and a recorded statement revealed the payment represented full and final settlement – despite not covering her medical bills, lost wages and pain and suffering.
Do not fall for this extremely common insurance company settlement tactic! Insurance adjusters are far more capable and experienced at this than you are, which is why…
You Need A Lawyer!
A skilled personal injury lawyer will make sure that the insurance company treats you fairly and pays you the compensation you deserve. It is important that your personal injury lawyer explain how to present a strong and supported claim for your compensation. For any additional questions regarding what makes a good personal injury case, click here.
The personal injury lawyers at Cowan & Hilgeman have recovered millions in compensation for our clients. Our lawyers create plans of attack for each case specific to the client’s needs and expectations. The lawyers at Cowan & Hilgeman handle claims involving personal injury, medical malpractice, nursing home negligence, product liability and wrongful death. We routinely recover compensation on cases that other law firms reject.
Cowan & Hilgeman offers free personal injury case evaluations and only get paid an attorney fee if we win your personal injury case.
Call 937-222-2030 to get your free case evaluation.