If you have been involved in an auto accident, one of the first things you’ll learn is that the insurance company is not necessarily on your side. Many victims head to the hospital and start collecting their bills when they get their first call to make a settlement offer.
The insurance agent may act as if this offer is the best they can do and that it is as much as the individual can get, but it’s often a lowball offer that doesn’t take into consideration all of your financial losses. Since that’s the case, it’s important not to accept any offers until you know exactly how much money it would take to make you financially whole once again.
Why aren’t insurance companies on your side after a crash?
While many people hope that insurance companies will be fair after they’re injured, the reality is that insurance is big business. Many insurance companies focus on saving money, and they’ll do anything they can to save what they can. That may mean delaying payouts to earn more interest on monthly policy premiums, delaying a settlement offer to earn as much in interest as possible and offering as little money as they feel they can to minimize their losses over your claim.
Even if the insurance agent seems to understand your circumstances, it’s not a good idea to take them at their word that they plan to help you. Instead, focus on working with someone who can help you negotiate for a fair settlement. If the insurance company never offers a fair settlement, then you can work with an attorney to take them to court.
You deserve support after serious injuries
You shouldn’t have to worry about what’s going to happen to your finances due to this accident. If the other party is responsible for causing your auto collision, then the insurance company should cover your financial losses.
If the settlement offer you have received is insulting, know that you have the right to reject it. There is no obligation to accept a settlement, and your case can go to court if needed.