How Insurance Companies Undervalue Accident Claims

Jed Dietrich, Esq., Recognized as a Super Lawyer and American Institute of Trial Lawyers Litigator of the Year, is Committed to Defending the Rights of Accident Victims Across Buffalo. If You or a Loved One Have Been Injured in an Erie County Accident That Was Not Your Fault, You Deserve Effective, Aggressive Representation and an Attorney Willing to Fight for Your Rights.

Insurance companies cannot back-track on coverage.

For accident victims, this can provide a certain peace of mind. In no-fault states like New York, drivers know they can count on their car insurance to provide certain benefits after an accident. Even if you were found partly at fault, your policy is still supposed to help with hospital bills and other expenses. It is supposed to be a financial failsafe. Many businesses are required to carry different kinds of insurance for the same reason. Without a commercial liability policy, a single customer with a serious injury would be enough to bankrupt all but the country’s biggest corporations.

Insurance companies act as guarantors against the unexpected, but that does not make them charitable. If an insurance company wants to stay solvent, it must make more money from premiums than it pays out on claims. This gives insurers of all sizes a good reason to negotiate the smallest possible settlements and, whenever possible, reject claims outright. After all, paying less money on fewer claims makes for much wider profit margins.

So, while the insurance company might have a contractual duty toward accident victims, it also has a strong incentive to limit its own liability. If you can count on the insurance company to do anything in a personal injury lawsuit, it is to protect its profits at all costs, even at the expense of your right to a fair recovery.

You do not have to put your financial future in the hands of a company that is more interested in protecting its profits than protecting your health and well-being.

The Dietrich Law Firm P.C. has spent more than 30 years helping New Yorkers persevere in the face of adversity, standing up to some of the country’s biggest insurance companies and refusing to settle for less. Since our founding in 2005, we have secured more than $300 million in damages money our clients have used to eliminate their medical debt, seek superior health care, and reclaim their financial independence. We could help you, too, but you have to act fast. Please send us a message online today or call us at 1-716-839-3939 to speak to a personal injury lawyer and schedule your 100% free, no-obligation consultation as soon as possible.

The insurance company has spent the whole of its corporate existence assessing claims and negotiating settlements. It knows how to turn a small mistake into a compelling reason to deny your claim or offer less compensation than you deserve. Even reputable insurers will rarely shy away from the opportunity to undervalue claims by:

If you have a strong case, there is a good chance the insurance company will make an offer of settlement before you are prepared to negotiate. These early-stage offers are made to be tempting. They might include enough money to pay off your hospital bills, enroll in physical therapy, or buy a new car. What they often exclude is a wide range of other damages, including money you do not need now but might need moving forward.

Even if you think you are getting a good deal, you should never sign off on a big insurance settlement without getting a personal injury lawyer’s opinion. If you regret your decision, you will not get a second chance.

You might be asked at some point to provide a recorded statement for insurance purposes.

Providing a recorded statement is a normal part of the claims process, but it is also among the most dangerous. If you know that you are in the right and have nothing to hide, you might not think twice about telling your side of the story. But that does not mean the insurance company would not go over the recording with a fine-tooth comb. An adjuster will likely analyze every word that comes out of your mouth, turning a casual apology into an admission of wrongdoing and fault.

Although you cannot always get out of providing a recorded statement, you have a right to representation. An experienced personal injury lawyer knows what to expect when it comes to these kinds of sessions. Your attorney will help keep the adjuster’s questions on track and ensure you do not inadvertently say anything that could be used against you.

You do not have to be blameless to file an insurance claim or personal injury lawsuit.

In New York, you can still sue for damages even if your own negligence contributed to the accident. However, if you are found partly at fault for the accident, your compensation will be reduced proportionately to your level of liability. Let us say, for example, that you were hit by a drunk driver. You sustained serious injuries and decided to file an insurance claim and, later, a personal injury lawsuit. At trial, the jury awards you $100,000 but finds that, because you had been on the phone at the time of the crash, you were distracted and therefore 10% to blame. Your award will be reduced by the same 10%, leaving you with $90,000.

Insurance companies sometimes try to limit liability by simply offloading it onto victims.

The Dietrich Law Firm P.C. has spent decades standing up to 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.

Call the Dietrich Law Firm P.C. immediately at 1-716-839-3939 so that our aggressive, tenacious, and hardworking personal injury lawyers can fight to obtain the best result for your personal injury claim in Buffalo, New York. We are available 24 hours a day, 7 days a week, and there is never a fee until we win for you!