Insurance companies are just like any other companies in that they are in business to make money. There is no denying insurance companies are profitable, partly because they devalue reasonable claims or deny them altogether. For every day insurance companies fail to pay on a claim, they can invest the money and earn interest for the profit. Every cent insurance companies save increases its bottom line profit at the end of the year. The Denver personal injury lawyers at Bowman & Chamberlain, LLC, offer these improper insurance settlement tactics.
Insurance adjusters can be extremely nice to injury victims who are not represented by attorneys. Studies show people treated nicely are more likely not to hire lawyers. History reveals that personal injury victims without attorneys settle their claims for much less money than the claims are worth. Playing nice are favorite among the insurance settlement tactics.
Request Unnecessary Info
Insurance companies have many excuses not to settle reasonable claims. Rather than settle, insurance adjusters might request every piece of paper concerning your case. Oftentimes, their requests includes records that have nothing to do with your injuries, including medical records from many years past. Requesting unnecessary information delays settlement and is often in conjunction with other insurance settlement tactics.
Dispute Medical Treatment
One of the most unreasonable insurance settlement tactics is when the insurance adjuster contests the amount of treatment you have had. They oftentimes claim you received too much treatment or argue that your treatment was unnecessary. Alternatively, they may claim the bills were too much. It is important to remember that the adjusters are waging these arguments to save their employer money.
Many insurance companies refuse to disclose the amounts of their policies until they are required to do so during discovery. It is not uncommon for adjusters to tell you the truth that their insured has the state minimum of $25,000.00 in insurance coverage. They fail to mention the fact their insured has two other policies, including a million dollar umbrella policy.
Allege False Defenses
Insurance companies use every possible excuse to postpone a fair settlement. Sometimes their insured will claim the police report was inaccurate and that you caused the collision. In such cases, even where the insured’s version is contradicted by eye-witnesses, the insurance company will refuse to settle because they have a defense, however questionable it may be. Alleging false defenses is used often as one of the insurance settlement tactics aimed at preventing payments.
Offer Holiday Settlement
Insurance companies take advantage of the misfortunes of injured people. They know money is tight when you’re out of work. Starting in November, victims of personal injury will receive low-ball settlement offers. The insurance companies know people need money for the Holidays. They offer money at times when the client is most pressured to take it.
Invade Your Privacy
Insurance companies routinely hire investigators to photograph accident victims. No law prohibits an investigator from talking to your neighbors about your activity level, or conducting video surveillance without your knowledge. The insurance company may not have to disclose their surveillance information until the case is almost ready for trial.
Uncover Injury History
Insurance companies all contribute to a computerized data bank which keeps track of all claims filed. They will know when and where you were injured, the type of injury, and the settlement you received. The companies wait for injury victims to lie under oath about prior injuries, and then confront them with the truth. Such a lie is far more damaging to your case than admitting the prior injuries honestly and up-front.
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