Insurance companies assist policyholders in times of need. When you sustain a severe injury or lose something valuable, policyholders typically file a claim with their insurer to obtain compensation for medical bills, loss of belongings, pain and suffering, and inconvenience.
Sadly, not all insurance providers are genuinely interested in helping you. Some of these insurers only want to make a profit out of their clients. Given this, there are certain things that insurance firms aren’t telling you. If you knew, you could better equip yourself against their moneymaking schemes.
Here are some facts insurers won’t tell you to avoid providing the compensation you deserve:
Insurers Don’t Want You to Get a Lawyer
Insurance agents often paint life insurance lawyers, personal injury attorneys, and other people in the legal profession as being unnecessary or greedy. An experienced legal professional, however, gives you a better likelihood of obtaining the biggest settlement possible. A large settlement could drain the funds of insurance companies, which is something they’re actively trying to avoid.
Insurance Adjusters Aren’t Your Friends
When you meet your insurance adjuster for the first time, you may be impressed by how courteous and friendly he or she is to you. Don’t be fooled, however. Regardless of how bubbly their personality is in person, over the phone, or via email correspondences, you should remember that they’re working against your best interests and representing a bigger organization.
Claims Adjusters Are Skilled Negotiators
When you arrive at the issue of settlement, your insurance adjusters may bait you to say “yes” to an offer. They’ll often say statements like “This is the best that our firm can provide.” and “You have to accept this settlement within 24 hours.” If you ask for an explanation concerning their claim, they’ll likely provide a viable reason by citing a paragraph in the insurance policy.
If the insurance company is pressuring you to come up with a decision, don’t provide an affirmative response right away. You have a right to mull over the offer and seek counsel from a legal professional.
Insurance Firms Hire Doctors to Uncover Pre-existing Injuries and Conditions
Some insurance firms exclude the coverage of pre-existing medical conditions and explicitly state exclusions in their policy. If you give your insurance provider access to your health records, they may attempt to find information that could minimize — or worse deny — your claim.
Employing a doctor is one of these tactics. The physician, who’s serving the best interests of the insurer, will look through your records to check for pre-existing conditions. Then, they’ll use that information to play down the injury you’ve sustained. If your doctor says that your condition is severe, for instance, your insurer will say otherwise and use your medical record against you.
Insurers Hope that You’re Forgetful or Disorganized About Accident-related Expenses
Your insurer may choose not to remind you about receipts for accident-related costs, which helps prove the legitimacy of your expenses. If you don’t have these receipts, your insurance company may use this as a reason to give you a lower claim amount.
These are facts that insurers don’t want you — the policyholder — to know. The goal of many insurance companies is to avoid paying full compensation for a claim. Your goal as a policyholder should be to get the settlement you deserve. If your insurer is not giving you what you need, you’re free to explore other options, such as obtaining legal assistance.