What To Know About Dealing With Insurance Companies
After an accident, dealing with insurance companies can feel like one of the most stressful parts of your recovery. Our friends at Cohen & Cohen discuss common tactics insurers use and how to protect your interests while negotiating for a fair settlement.
Insurance companies often market themselves as being on your side, but their primary goal is to minimize payouts. When you understand their strategies and know how to respond, you’ll be better equipped to get the compensation you deserve.
Initial Contact After An Accident
One of the first things we experience after an accident is contact from the insurance company. Whether it’s your insurer or the at-fault party’s provider, this interaction can set the tone for your claim.
It’s common for insurers to appear friendly and sympathetic during these early conversations. They might ask for a recorded statement or try to gather details about the incident. While this can feel like a routine part of the process, it’s important to be cautious. Any statements you make could be used to weaken your claim later.
Instead of sharing too much, stick to the basics. Confirm the date, time, and location of the accident, but avoid discussing fault or the extent of your injuries. If you’re working with a personal injury lawyer, they can communicate with the insurance company on your behalf, helping to avoid potential missteps.
Common Tactics Insurance Companies Use
Insurance companies are skilled at reducing payouts, and they use several strategies to do so. One of the most common is offering a quick settlement. While this might seem appealing, especially if you’re facing medical bills or lost income, these initial offers are often far lower than what you deserve.
Another tactic is questioning the severity of your injuries. They may request extensive documentation or argue that your injuries were pre-existing or unrelated to the accident. In some cases, they might even delay processing your claim to pressure you into accepting a lower offer.
We’ve also seen instances where insurance companies attempt to place blame on the injured party. They may argue that you were partially or fully responsible for the accident, which can reduce or eliminate your compensation.
How To Respond During Negotiations
When it’s time to negotiate, preparation is key. Start by gathering all relevant evidence, including medical records, bills, photos of the accident scene, and witness statements. This documentation helps demonstrate the impact of your injuries and the costs associated with your recovery.
Patience is also important. Insurance companies may push for a quick resolution, but taking the time to evaluate their offer and counter with a fair demand can lead to a better outcome. Your attorney can calculate the full value of your claim, factoring in future expenses like ongoing medical care or lost earning potential.
During negotiations, it’s essential to stay calm and focused. Avoid letting emotions influence your decisions, and don’t feel pressured to accept an offer that doesn’t meet your needs. If the insurance company refuses to offer a reasonable settlement, your attorney may recommend taking the case to court.
Protecting Your Rights
Dealing with insurance companies can feel like an uphill battle, but it’s important to remember that you have rights. You’re entitled to fair compensation for your injuries, and you don’t have to accept less than what you’re owed.
Understanding how settlements from insurance companies impact your financial future is essential, as incorporating these funds into your estate administration and planning ensures they are managed and distributed according to your wishes.
When we work with an attorney, they can handle much of the negotiation process, giving us the time and energy to focus on healing. From reviewing settlement offers to advocating on your behalf, their support can make all the difference.
Recovering from an accident is hard enough without worrying about how to deal with insurance companies. By being aware of their tactics and taking the right steps, you can protect your interests and move toward a fair resolution. Whether through skilled negotiation or legal action, the goal is to secure the resources you need to recover and rebuild.