What are some insurance company tricks and tactics I should look out for?

After sustaining a serious injury, it is normal to feel overwhelmed and confused as you determine how best to care for yourself and those who depend on you. You are likely living with pain and juggling treatments and medications. The sad fact is that too often insurance companies take advantage of the vulnerable condition in which injury victims often find themselves. Look out for these insurance company tricks and tactics, all used to minimize the amount that is paid-out for a claim.

Often times, an insurance adjuster will ask you to make a statement describing your accident and injuries in order to speed up the claims process. The adjuster’s true objective is to lessen your chances of obtaining maximum compensation for your injuries. If you admit fault in any way, downplay your injuries, jumble the circumstances of the accident, or make any misstatement while answering the adjuster’s questions, you could lose or lessen your right to recovery.  Therefore, it is in your best interest not to give or agree to give any statements, whether written or recorded, to the insurance company.   

An insurance company may send you checks for small amounts while you are still receiving treatment for your injuries. In addition to asking you for additional records, claiming they need more time, and calling to “check in,” these amounts are a stalling tactic to keep you content until the statute of limitations expires in your case.  The statute of limitations is the deadline by which you must file your lawsuit if you cannot resolve your claim with the insurance company. Once the statute of limitation expires, you will be barred from filing a lawsuit for additional compensation for your injuries.

You are not alone if you have not read your insurance policy. In fact, insurance companies operate on the assumption that many people do not know what injuries and damages their insurance policies cover. This gives them the opportunity to fail to reveal—or flat out deny—the actual compensation available to policyholders. Be sure to carefully read your policy and make sure you understand your coverage. If you don’t, talk to a lawyer.

Of course the insurance company does not want you to hire a lawyer. Injury victims represented by attorneys consistently receive higher payouts from insurance companies than those who do not seek legal counsel. With a lawyer on your side, you will have a good idea what your claim is worth, which means you can avoid accepting a low settlement offer.  Having a lawyer on your side will also help prevent the the insurance company from trying to  beleaguer you with its tricks and tactics for minimizing payouts.  A lawyer will actually try to press for prompt and thorough resolution of your claim by the insurance company.  

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