Have you ever wondered about the effects of trusting the insurance company implicitly in the wake of an accident? Considering the many things that victims have to handle when an accident occurs, including medical bills and legal processes, it’s common for them to trust insurance companies. This trust may be in the form of accepting the insurance company’s damage assessment and agreeing to the initial settlement, among others.
This article explores the risks associated with trusting the insurance company and why it could be the biggest mistake in your PI case.
Insurance companies, like any other business organization, are primarily driven by profit-making motives. However, in most cases, they present themselves as benevolent entities offering support to victims in times of need.
To be able to make profits, insurance companies always strive to minimize their costs in terms of payouts. You need the services of PI attorneys to help you counter such moves by insurance companies. If you visit detroit.michiganinjurylawyers.com, you can get plenty of content on how to pursue insurance claims and get access to experienced attorneys to represent you.
Why You Shouldn’t Trust an Insurance Company
When an accident occurs, insurance adjusters move fast to approach victims with seemingly attractive proposals to settle claims swiftly.
In most cases, the pressure from medical expenses pushes victims into accepting this quick settlement. However, these adjusters work for the interests of the insurance company and not the victims. For this reason, the proposed settlement will always be low. Therefore, trusting the insurance company and accepting this quick settlement offer will be detrimental to you as the victim.
The assessment of damage done by insurance companies will always lead to undervaluing medical expenses and property damage. It is detrimental to trust such an assessment because it eventually leads to unfair compensation.
One of the reasons you need the services of a personal injury lawyer is to help you ensure the damage assessment is fairly done by independent entities.
The insurance company’s settlement will not consider the unforeseen medical expenses. Some psychological effects may not appear immediately. However, in the long run, victims may start experiencing these symptoms, necessitating medical attention. This will then attract medical expenses not captured in the initial assessment. Therefore, if you agree to the initial settlement offered by the insurance company, you become a victim of unfair compensation.
Diminishing the value of the claim is one of the key goals that an insurance company will be seeking to achieve during the compensation negotiation process. Some of the tools used to achieve this include shifting blame to the injured or downplaying the severity of the injury. By downplaying the severity of the injury, you accept little money in the form of compensation.
You are likely to fall victim to the delay tactics employed by most insurance companies. These tactics usually seek to subject victims to the pressure of accepting lowball settlements or giving up on their efforts to seek compensation. Personal injury attorneys play a significant role in helping you get fair and timely compensation.
By trusting the insurance company, you accept whatever they offer and drop your quest for compensation.
Final Thoughts
It is possible to trust the insurance company in the wake of a PI incident because insurance companies generally present themselves as trustworthy entities providing support to victims. This is, however, false because insurance companies are business organizations seeking to make profits. Therefore, trusting them could be a big mistake because you will:
- Have your medical expenses undervalued and the extent of your injury downplayed
- Get an unfair settlement or compensation
- Experience considerable delay in getting compensation and, at times, receive no compensation at all