Sunday, September 17, 2017

5 Secrets That Allow Insurance Companies To Keep Your Money

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Don’t get us wrong, using insurance companies is crucial when it comes to managing your own financial risk. In fact, paying for a surprise disaster out of the funds in your own dwindling bank account. In that sense, insurance companies are worth it. But that is about as far as our love affair with insurance companies go because their main concern is business, not you; it is profit not your settlement package. What’s more, the tactics of keeping your money are about as sinister as they come as most insurance companies keep their ways of doing business in the dark. 

That’s right, there are secrets that no insurance company wants you to know about when it comes to your personal injury claim, and it is those secrets we are about to cast a light on so that you can get the settlement you deserve should you ever have to make a claim. 

From now on, make sure you get the money you deserve, not the leftovers from their profits. 

Secret #1: Insurance Adjusters Are Not On Your Side

This is one of those things that you need to understand from the get-go because the adjusters that you face off with are paid employees of the insurance company. What’s more, in the same way Liam Neeson’s character in Taken was a specialist in badassery, these adjusters are specialists in negotiation, and they are supported by experienced lawyers that know the law better than you know the alphabet. But here is the part where alarm bells need to start ringing because the most immediate role of the adjuster is to stop you hiring a personal injury lawyer or attorney so that you are more likely to settle faster and for the least amount of money possible. With this in mind, your best form of defence is to do exactly what they don’t want you to, and that is hiring a personal injury lawyer. 

Secret #2: Insurance Companies Are Scared Of Experienced Attorneys

Of course, they are. The more experienced, skilled and ruthless your attorney is the more money they are probably going to have to pay you for the simple fact they won’t be able to pull any amount of wool over your attorney’s eyes. This isn’t about making the insurance company shiver, though. This is about protecting yourself and your rights and coming out of this process with a settlement that is fair, which is exactly what an attorney will aim to achieve. Let’s say you were bitten by an illegal breed of dog or had an accident while working on a construction site; you probably have no idea how much your claim is worth, and that ignorance is what insurance companies prey on by offering you a lowball payout while telling you this is the best offer you’ll get. Hire an experienced attorney, however, and they will know of similar cases, how much those victims got in their settlement case and how much a jury of twelve people would be willing to agree on. Basically, an experienced attorney will know how much your case is worth, and they will help you get the compensation you deserve. 

Secret #3: The Recorded Statement

You know that employee of the insurance company we mentioned earlier, Ms Insurance Adjuster, well she is going to try and get a recorded statement from you that they will then use to reduce the value of your claim down the line. Please, for the love of whoever you believe in, don’t buy into this. Don’t give any recorded statements to any adjusters. Don’t buy into the soft dulcet tones of the adjuster when they phone you up and don’t indulge their request for you to guess about the facts relating to the accident you were involved in. Like we said, they are going to use this information against you in any way they can. It is their job. It is how they impress their bosses, acquire bonuses and get promotions. To them, it is just their business but, to you, this is your life, and that is a distinction you need to remember if you are going to stop them keeping the money you are entitled to. 

Secret #4: They Want You To Be Brave When You Visit The Doctor

They want you to be brave and you want to appear brave, which makes the moment you first visit a doctor a very tough one to get right. To put it to you bluntly, this is not the time for heroics, bravery or a show of strength. This is a time of honesty because you need to tell your doctor every detail you can. The headaches you are getting, the broken bones, the inability to sleep and your saw pinky finger. It doesn’t matter how little the things are that are bothering you, they are important to your case. They are going to legitimise your claims and prove you have been consistent with your statements. You will find most insurance companies will try and make it look like you are exaggerating your injuries - or making them up altogether - and that is where your doctor’s notes will support your argument. Validity is important. So, in the same way you should never make up an injury, you should never downplay one either. You never know what a small injury could turn into in the long run. It could become the most serious concern of all.

Secret #5: They Want To Rush You

The reason why insurance companies want to rush your settlement through is that it is in their favour. It is their favour for you to accept a settlement before you’ve hired an attorney. It is in the favour for you to agree to a settlement before you know the full extent of your injuries. The problem is, for most victims, time is against them. It could be the accident has stopped them from working, or they think they need to claim quickly due to the statute of limitations. However, rushing a settlement is always a bad idea. In fact, we recommend you wait until your medical treatment has been completed, or a doctor has a good understanding of the extent of your injuries. It is also worth noting that most states have a basic statute of limitations that last two years. In any case, the best thing you can do to protect yourself is to hire an experienced attorney.

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