The last thing most people think about after being seriously hurt in a car, bus or tractor trailer crash, an offshore maritime accident, or a railroad accident is fighting with the insurance company. After all, aren’t these the very people who are supposed to be giving YOU money for your injuries – not trying to nickel and dime you?
How do insurance companies take advantage of injured individuals with accident claims? There are several ways that insurance companies work hard to maximize profits at YOUR expense:
- Hire cheap, inexperienced claims adjusters. Have you ever had the feeling that your claims adjuster just doesn’t know what he or she is talking about? This is because very often they don’t. One way that large insurance companies save money is by hiring cheap, inexperienced adjusters. If you are dealing with one of these adjusters, all you’ll get from them is a flat out denial or a paltry payout pre-determined by a computer program, regardless of your personal situation.
- Use standardized claims adjustment software. Sounds like a great idea, right? For the insurance companies, absolutely. Standardized software allows insurance companies to decide how much they will pay out on each type of injury claim so they can keep costs down. What this means for you is that your compensation is based on a software algorithm, not what you really deserve. How is that fair?
- Keep a law firm on retainer. Why, you might wonder, would an insurance company need to have a law firm on retainer? To fight against YOUR claim, of course! This is one of the dirty little secrets of the insurance industry. They use lawyers to fight even small claims, because most people don’t want to enter into a long, drawn out legal battle just to get paid fairly after an accident.
- Deny claims, or pay out as little as possible. Considering their profit motive, it should come as no surprise that insurance companies try to avoid paying claims whenever they can. How do they do this? They use the “three D’s”: Deny, Delay, Defend. They’ll try to deny your claim, hoping you’ll go away and leave them alone. If that does not work, they’ll delay paying you, hoping to wear you down so you give up or accept a tiny settlement. Finally, if all else fails, they’ll get their lawyers involved and tie your case up in court.