Insurance Company Tactics That Can Cost You Serious Money
No matter what the commercials tell you – insurance companies are NOT on your side. In fact, it is the exact opposite. Their main objective is to increase their revenue and make their shareholders happy. To do this, they must pay you the least amount they can after an accident – so that they can pocket the rest. They do this in many ways and some of the tactics they use can cost you a lot of money. Here are some of the most common insurance company tactics:
- Making you sign a medical release: this may seem like no big deal, but a medical release can provide the insurance company with a lot more information about you than you realize. Prior medical conditions and even old injuries can then be used against you to deny your claim or reduce your compensation. Never sign a medical release unless you first speak to an experienced Denver attorney.
- Recording your statement: you are not legally obligated to record your statement and it can end up costing you if you do. If you say something even a little wrong, it can be used against you and used to deny your claim. Insurance companies can use police reports and witness statements to understand what happened during the accident. The main objective in the recorded statement is to gather evidence to reduce your claim.
- Offering a quick settlement: the insurance company knows when they will have to pay a claim. So, they often offer quick settlements to injured accident victims in the hopes that they will take it. These are usually a fraction of what you need to recover and often well before the full extent of your injuries is really known. If you accept this settlement, and your bills continue to escalate, then there is little you can do to claim more money and you will be left in serious financial hardship.
- Transferring to another insurance adjuster: this is often a common delay tactic. The more you are delayed, the better their chances of getting you to settle for a smaller amount of money. The insurance company knows that you need money now to pay bills and expenses and they will use this to their advantage.
- Showing up unexpected: if the insurance adjuster shows up without making a prior appointment, this is usually to catch you doing something that would reduce your claim. They are hoping to gather evidence to show that you are not as injured as you may claim to be. If this happens, refuse to meet with the adjuster and request that he or she call back and make a proper appointment.
- Asking for their doctor to examine you: sometimes insurance companies will ask you to be examined by their own doctor. Before agreeing to this, it is important to speak to an experienced attorney. There are often traps associated with letting an insurance company’s doctor examine you.
- Telling you not to hire an attorney: many insurance adjusters will tell you that you do not have to hire an attorney. They may even claim that an attorney won’t be able to help and that you can resolve this in a friendly manner without having to get lawyers involved. This is a prime tactic used to reduce the amount they will have to pay. They realize that once an attorney is involved, the amount of money they will be required to pay will go up dramatically. Never fall for this. Always speak to an experienced Denver car accident attorney immediately after your accident. Your attorney will be able to protect your rights and fight for you throughout the process.
Further Reading: Following a Friend Leads to Unsafe Driving Behavior
Contact Our Denver Personal Injury Attorneys
If you or someone you love has been injured in an accident that was caused by another person’s negligence, it is important to understand that the insurance company is NOT on your side. Contact the law firm of Fuicelli & Lee, PC, for a free case evaluation. You pay nothing unless you receive a financial settlement or award. Call our office at 303-355-7202 or fill out our confidential contact form.