Buffalo Personal Injury Lawyer News3 Ways Insurance Companies Undervalue Accident Claims
Insurance is financial protection for the unexpected.
An insurance coverage is supposed to guarantee peace of mind. Even though no amount of money can undo an accident, a strong policy can, at the very least, ensure that victims have a way to obtain relief without having to hire a lawyer and take them to court.
If an insurance company wants to stay competitive and turn a profit, it cannot pay more in claims than it takes in premiums. The less money an insurer spends resolving claims, the more profitable it is.
When it comes to dealing with the insurance company, it pays to stay skeptical.
The Dietrich Law Firm P.C. has spent more than 30 years helping New Yorkers take on some of the country’s biggest insurers. Since our founding in 2005, we have helped our clients in Buffalo and across the state secure more than $300 million in damages. We could help you, too. Please send us a message online or call us today at 1-716-839-3939 to speak to a personal injury lawyer and schedule your 100% free, no-obligation consultation as soon as possible.
3 Ways Insurance Companies Undervalue Accident Claims
- Hoping You Will Take the First Settlement Offer You Get
Insurance companies view personal injury claims from the perspective of financial risk.
If you have a strong case, there is a chance you could obtain much more money from a sympathetic jury than you ever could through negotiation. However, nobody can ever say for certain how a jury will rule. An unanswered question or unreliable eyewitness could come back to hurt you or the insurance company.
When insurance companies think a big settlement could be on the line, they will sometimes try to preempt the personal injury lawsuit process altogether. They would not wait for you to contact a lawyer; they will offer you a low-ball settlement and hope you bite.
- Using Your Words and Medical Records Against You
At some point, you might be asked to provide a recorded statement or sign a piece of paper letting the adjuster take a look at your medical records. These steps are a normal part of the claims process, but they are also among the most dangerous. If you have nothing to hide, you might not think twice about agreeing, but as soon as you share a statement or sign away your records, an adjuster could take your words out of context or find a way to blame an accident-related injury on a pre-existing condition.
- Offloading Liability On Accident Victims
You can still sue even if you were partly at fault for an accident. However, shared liability can come at a steep cost. If you win a $100,000 court award but the insurance company convinces the jury that you were 20% liable for the accident, your compensation will be reduced by $20,000.
Contact The Dietrich Law Firm P.C. Today
The Dietrich Law Firm P.C. has spent decades fighting the insurance industry. A recognized U.S. News & World Report Best Law Firm, we know what it takes to build a strong, compelling case for damages, and we have the results to prove it. Call Jed Dietrich, Esq., today at 1-716-839-3939 to speak to a personal injury lawyer in Buffalo and schedule your 100% free, no-obligation consultation as soon as possible.