Did you know that insurance companies fear lawyers? Insurance companies often use tactics to minimize the amount of compensation or to deny claims altogether. These strategies, which focus on the bottom line over the well-being of accident victims, can cause injured persons to feel overwhelmed and vulnerable.
This is why the intervention of experienced car accident lawyers can turn the tables. This forces insurance companies to comply with the rules and protect the rights of those wronged.
This article explores why insurance companies are apprehensive about dealing with experienced attorneys and how legal representation can alter the outcome of an insurance claim.
The Insurance Company Playbook
Insurance companies are businesses whose main objective is to make profits for their shareholders. According to industry analyses, insurance companies in the United States paid more than $1.2 trillion in premiums in 2019 alone, but their payout ratios often show a significant difference.
Some major insurers report payout ratios as low as 60%, which means that only 60 cents of each dollar of the premium paid is returned to policyholders as benefits. To do so, they may use different tactics to reduce or avoid the payment of claims, even if the evidence favours the accident victim.
Some common strategies used by insurance companies include:
Lowball Settlement Offers
These offers often do not consider the full extent of damages, including future medical expenses, lost wages, and pain and suffering.
Delaying Tactics
The insurance company may deliberately delay the claim procedure in the hope that the injured party will become frustrated and accept a lower settlement to resolve the dispute. These tactics may include requests for unnecessary documentation, failure to reply to calls or emails, and dragging negotiations out.
Denying Liability or Shifting Blame
Insurance companies may try to deny liability by claiming that the insured person was not at fault or that the injuries had already existed. They may also try to transfer blame to the accident victim or a third party, further complicating the claim process.
To limit their liability or raise doubts about the validity of a claim, insurance adjusters may misrepresent the applicable laws or policy conditions. This tactic can cause accident victims to become confused and uncertain about their legal rights and options.
The Power of Car Accident Lawyers
When car accident lawyers intervene in these cases, they bring a wealth of knowledge, experience, and negotiating power to the table, effectively countering the tactics employed by insurance companies.
Here’s why insurance companies fear the involvement of these legal professionals…
1. Skilled Negotiators and Litigators
Personal injury lawyers are experienced negotiators and litigators capable of dealing with a complex court system and advocating for their client’s rights.
They understand the tactics used by insurance companies and have the expertise to effectively combat them, ensuring that their clients receive the compensation they deserve.
2. Comprehensive Case Evaluation
Car accident lawyers conduct thorough investigations and case evaluations and gather evidence to support their clients’ claims. They work with medical professionals, accident reconstruction experts, and others to create a strong case and accurately assess the full extent of damage, including future costs and non-economic losses.
3. Knowledge of the Law and Policy Terms
Car accident lawyers have an in-depth knowledge of the relevant legislation and the insurance policy terms to ensure the protection of their client’s rights and that insurance companies do not misrepresent or manipulate the terms to their advantage.
4. Willingness to Litigate
While car accident lawyers always try to reach a fair settlement through negotiation, they are prepared to go to court if the insurance company refuses to offer reasonable compensation.
This willingness to litigate can serve as a strong deterrent, forcing insurance companies to take their clients’ claims seriously and negotiate in good faith.
The Impact on Insurance Companies
When car accident lawyers intervene, insurance companies encounter significant challenges to their standard operating procedures.
Insurance companies can no longer rely solely on their usual tactics to minimize payouts or reject claims. Due to the legal knowledge of experienced lawyers, they may have to agree to larger settlements or face the risk of costly litigation and possible adverse judgments.
The presence of skilled car accident lawyers compels insurers to adhere to higher responsibility standards. This shift contributes to preventing the use of unethical or illegal tactics.
The involvement of legal experts in accident cases ensures a more transparent procedure for claims, which benefits victims and promotes a fairer and more equitable system overall.
FAQs
Do I need a car accident lawyer if the insurance company has already offered a settlement?
Even if the insurance company has offered a settlement, consulting with a car accident lawyer before accepting is advisable. These lawyers can evaluate the offer and determine if it accurately reflects the actual value of your claim, considering all current and future damages.
Can an insurance company deny my claim if I don’t have a car accident lawyer?
Insurance companies may be more likely to deny or underpay claims when a lawyer does not represent the claimant. Having an experienced car accident lawyer on your side demonstrates that you are serious about protecting your rights and are prepared to take legal action if necessary.
How long does the insurance claims process typically take with a car accident lawyer involved?
The duration of the insurance claims process can vary depending on the case’s complexity and the insurance company’s willingness to negotiate in good faith.
Car accident lawyers are skilled at going through the process efficiently and can often expedite claims resolution by applying pressure and leveraging their expertise.
The Reasons Insurance Companies Fear Lawyers
In the case of a car accident, the intervention of a qualified car accident lawyer can be a game-changer. These legal professionals oppose the tactics used by insurance companies and advocate for the rights of their clients.
They can help to level the playing field and ensure that accident victims receive the compensation they deserve. Thanks to their knowledge, experience, and willingness to litigate, the best car accident lawyers create fear in insurance companies, forcing them to comply with the rules and prioritize fairness over profits.
