Insurance companies operate to make a profit. To accomplish this goal, they use tactics designed to keep their costs down. The following are secrets they don't want people to know.
No Attorneys Involved
Insurance companies don't want to deal with attorneys. They would rather work directly with customers, as they know attorneys will ensure their clients get fair compensation. An insurer won't have the client's best interests at heart. Their bottom line remains the top priority.
Furthermore, according to Verikai, insurance agents make more when they sell a policy at a higher premium. They don't share the limitations or exclusions found in the policy's fine print. If they tell you an attorney isn't needed to review the policy or help with the claim, ask them why they have attorneys working for the company. They can't give a good answer to this.
Recorded Statements
An insurance adjuster works to get a recorded statement from a claimant as soon as possible. In addition, they want signed medical authorizations. They then use the statements to say the injuries weren't that bad or the victim was actually at fault. In addition, they want to see the medical records so they can say the injuries were pre-existing and they aren't responsible. If they do have to pay on a claim, they use the same information to reduce the amount they pay.
Insurance companies work with certain doctors they know will deny a claim or minimize the extent of the victim's injuries. When they receive authorization to review a victim's medical records, they look for anything that will support the insurer rather than the client. Don't provide this authorization to make it more difficult for them to do so.
Settlements Rather Than Court
Insurance companies prefer to settle cases rather than go to court. They say they are willing to take the case that far, but they must pay attorneys if it gets that far. The insurer actually saves money by offering a settlement. Their goal is to offer the lowest amount possible. To do so, they often say certain items aren't covered under the policy. In addition, they are trained to negotiate a settlement. The insurer will claim something is the insurer's best offer and it's only a good for a specific time period. They may also tell the victim they will lose money by hiring an attorney because of the attorney's fees.
Psychological Tactics
Insurance agents receive training in psychological tactics to ensure they pay out the least amount possible. For example, they may recommend a victim take an early settlement so they aren't harassed by medical providers for payment. They do this because they know the longer a bodily injury claim is open, the more the company will pay out.
Outside Help
Insurers spend countless dollars each year supporting politicians and lobbyists they know will help them keep costs down. These individuals work to limit the rights of victims seeking compensation. The money spent to achieve this goal could be better used to reduce the premiums of clients.
People need to know their insurance companies aren't looking out for them. Those who do so can counteract these tactics and ensure they receive fair treatment. Learn more today about how to fight an insurance company and receive adequate compensation for any damages and injuries sustained.
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