Insurance companies grow profits by limiting claims
It’s a pretty easy business model to understand. Take in as much money as you can in premiums, limit the amount you pay in claims and watch your profits soar. That is what insurance companies do every day.
Profits are why an insurance company adjuster is so quick to reach out to a victim once they are in an accident. They will usually first try to tell you the damages are not covered, or perhaps even get you to share the blame with the other party in the accident to reduce their exposure. If they know they have to pay you, they probably will push you to take a settlement for much less than you should and act like they are doing you a favor. And, most importantly, they will suggest you not to hire a lawyer by telling you that it will limit how much money you receive.
What they fail to tell you is that a good attorney, who isn’t afraid to take your case to court if needed, will almost always get more money from the insurance company than you can get on your own. In fact, statistics show that a skilled attorney can net you a 3.5 times larger settlement. Why is that? Because the insurance company knows you aren’t taking them to court yourself, and they have to factor in the exposure and expense of a trail. The insurance company also knows that an attorney will accurately size up not only the value of your cases but also make sure to factor in all the ancillary expenses you have as well as future payments you may need to deal with long term injuries.
You’ve already been the victim of an accident. You shouldn’t be taken advantage of when it comes to collecting the money you are entitled to from the insurance giants.