A car has hit you. Perhaps you suffered serious injuries that have affected your ability to function and to work.
It can be another blow when your insurance company drags out the process of your claim as your medical bills mount. Conversely, the company may offer a quick settlement for a small and seemingly unfair amount. Unfortunately, although you pay your insurer money every month, your provider often does not act in your best interests.
Insurance companies want to make money
For many insurers, there is the fact that first and foremost, they want to turn a profit. Frequently, that entails:
- Being strict about enforcing deadlines and other filing requirements
- Having many requirements that can make filing a claim and keeping on top of it seem like a job in itself
- Offering quick settlements to mitigate the risk of paying significantly more later
If you get a piece of paperwork in a day late, an insurance company has little interest in helping you out. For example, the late paperwork may mean the company gets to pay less or nothing at all.
Also, insurance companies have a lot of experience dealing with car accident claims and other claims. They know that relatively small injuries can turn worse in a few months or a year, so it is sometimes in their best interests to settle quickly.
Insurance companies want to protect against fraud
Fraud against insurance companies does happen. Some people do exaggerate injuries, and the money an insurance company spends on a fake or exaggerated injury is money it could have spent on a real claim. Understandably, insurance companies are upset when this happens and will often meticulously investigate claims to guard against fraud. That helps keep the playing field level for all of a company’s clients.
If you have been injured in a car accident, you are dealing with many things at once. An attorney can help advocate for you with an insurance company or evaluate the fairness of a settlement the insurer has already extended you.