How insurance companies reduce the claim paid out after a car accident
Insurance companies do not want to pay out on claims. Their major selling point is that they are there to protect you, but there are far too many cases where you need protection from them.
This is not to vilify the industry as a whole; there may very well be insurance companies out there who get into the business to help people. But, if this is unfortunately not the case, then there are certain things which you ought to be aware of.
We pay for insurance on all our valuable possessions. This includes houses, cars and other things which hold monetary or sentimental value, which means lease agreement forms are available for all. This is done to prepare for the worst. The hope is that nothing terrible will happen, but everyone wants to be ready for it if it does.
Life is unpredictable. Accidents happen, we get robbed, and the weather can be a fickle thing. This is where your insurance is supposed to come in. The hope is that you can call them when disaster strikes, and they will help you get back on your feet.
They will provide you with the financial assistance to replace what was broken or stolen; this was their promise to you after all. Unfortunately, the insurance business is still a business.
Their main priority is to make money and not to pay it out. People will always have accidents, and they will still need insurance, this means that even the most loyal customer is not guaranteed the financial support which they duly deserve.
Insurance companies have specific tactics which they use to reduce the payout amount. These tactics are not illegal, they may be manipulative and underhanded, but they are not unlawful.
The only thing a customer has on their side is information. If you are aware of these tactics, then you may just stand a chance at defending yourself against them. The following are only 2 of how an insurance company can lessen the total amount that is paid out to you following a car accident.
- They will try to get you to admit fault
When a person is trying to get a claim out from their insurance company, there are countless phone calls made and a considerable amount of questions asked. They keep in contact with you almost always.
Do not, for one second, think that they do this because they are concerned about you. They do this because they want you to admit fault. They want you to implicate yourself somehow. This is done by asking a host of questions which are designed to confuse and frazzle a person.
- They try to get you to accept unreasonably low offers
This is done in the time immediately following the accident. A person is generally shocked, vulnerable and just wants to get their lives back to normal. This is when they offer you a low settlement.
It may seem tempting, but it is generally not good enough. They are taking advantage of the state that you are in.