Your Options When an Insurance Company Tries to Lowball You
When you’ve been hurt in a motor vehicle accident, or if you’ve suffered property damage in a crash, one of your first steps will typically be to contact your insurance provider, so that you can get the immediate care you need and can get back on the road. What you may forget, in the stressful moments after a collision, is that insurance companies are for-profit entities with a vested interest in maximizing their profits. One of the ways they do that is by paying policyholders less than they should. So don’t be surprised if your insurance company comes back with a settlement offer that won’t come close to covering your losses.
What are your options when your insurance provider won’t deal fairly with you? How do you get past the gamesmanship and get to a settlement offer that meets your needs? Here are some recommendations.
Don’t Get Belligerent
You may be angry, and rightly so, but anger and bullying typically won’t get you where you want to go. Insurance adjusters have significant experience dealing with unhappy policyholders. It’s highly likely that you’re not the first person they’ve tried to lowball. They are trained to let you vent as much as you want without getting into a battle with you. And you can’t threaten to take your ball and go home. They know that the longer you go without a settlement, the more likely you will eventually be to settle for less. The best approach is to stay in communication with your insurer, politely decline a low settlement offer, and retain experienced legal counsel.
Gather as Much Information as You Can
Don’t be afraid to ask your agent or the adjuster as many questions as necessary to get a clear picture of how the insurance company calculated the settlement offer. Ask them to document how they determined lost wages, pain and suffering, unreimbursed medical bills and other damages. Don’t be surprised, though, if you get stonewalled.
Have Your Own Documentation
Don’t rely on data that the agent or adjuster gathers to calculate your losses. Provide the insurance company with copies of relevant documents that show your actual losses, such as:
- All medical records, including billing statements
- Pictures of the accident, the damage to the vehicles, any injuries you suffered, and anything else related to the crash
- A police report on the accident, if one was prepared
- A letter from your employer documenting lost wages
Hire an Attorney
If at all possible, you should do this before you have any communications with your insurer. In the best of all possible worlds, your lawyer will be your liaison with the insurance company from the beginning of your claim. Unlike your insurer, who has an incentive to minimize the payout to you, your attorney has the incentive to maximize what you receive, as the legal fee will typically be a percentage of your recovery.
Furthermore, your attorney will know how to anticipate the tactics and strategies the insurance company will use to try pay you as little as possible. In addition, you won’t have to worry that some comment you inadvertently make to your agent or adjuster will be used against you.
In addition, your lawyer will know what is reasonable in terms of a settlement and can help you get what you need by effectively negotiating to that number. Without the benefit of an experienced attorney, you may make a counteroffer that’s too high (or even too low).
Contact the Proven Personal Injury Lawyers at Bailey & Galyen
At the law offices of Bailey & Galyen, we understand the devastating impact any type of personal injury can have on every part of your life. We’ll aggressively protect your rights throughout the legal process, acting as your intermediary with insurance companies and as your voice in all meetings, hearings and legal proceedings. Contact us by email or call our offices at 844-402-2992. Our phones are answered 24 hours a day, seven days a week.
