How Can Insurance Companies Cheat You
It’s difficult enough dealing with growing medical bills and a lengthy recovery process after being wounded in a car accident. You may be required to miss days of work on occasion. You may even be forced to leave your job at times. Worse, all the red tape and hoops you have to jump through when dealing with insurance claims only adds to the pain. However, it is critical that you receive all of the funds to which you are entitled. You are entitled to every dime owing to you from your insurance coverage after years of paying your premiums on time!
Insurance companies, on the other hand, are not on your side, I’m afraid. Even if you appreciate your insurance agent, the corporation that employs him or her will almost certainly do everything possible to reduce the amount of money they have to pay you in the event of an accident.
Insurance companies make money by collecting premium payments from their clients, so they’ll try to persuade you not to file a claim, or they’ll make up as many excuses as possible for why you don’t qualify for payment. Insurance firms do not lose money this way. This is also why you should choose a good Car accident lawyer Tampa.
After a car accident, here are the Top Ways Insurance Companies Can Cheat You.
1. Requesting a Recorded Statement is the first step.
When you’re in a car accident, do you know what to do first? If you’re like most people, the first thing that comes to mind is making sure everybody’s all right. But there are other things to consider as well. Insurance companies trying to avoid paying claims will try anything underhanded to do so. One of the more dark practices they utilize is recording phone conversations – even with their policyholders – in order to inflate or manufacture reasons not to pay claims.
Please keep in mind that there is no law requiring you to give a recorded statement to the insurance company of the driver who hit you in an automobile accident. Giving a recorded statement never benefits you, and victims who make such comments are more likely to have their compensation offer reduced or their claim denied outright. If an insurance company representative asks you to give a recorded statement, hang up and contact an car accident lawyers in Tampa right away.
2. Insisting on a Speedy Settlement
Having to deal with insurance companies and legal disputes may be a very stressful situation. However, no matter how much you want to wash your hands of the situation and put it behind you, you should never accept a fast payment from your insurance company.
Insurance companies employ this strategy because it saves them time and money, and it nearly invariably results in car accident victims accepting a significantly lower settlement before fully understanding their injuries and the true value of their claim. You won’t know how much your settlement should be until you’ve thoroughly studied your situation and have fully recovered from your injuries.
Remember that insurance companies, even your own, are not on your side. Their purpose is to keep their money rather than offer it to you. As a result, create strong boundaries for when you will speak with the insurance provider and restrict the length of time you chat with them on the phone. When you do speak with them, make sure you give them as little information as possible.
3. Requesting a Medical Release Form Person signing a contract
An insurance adjuster may try to persuade you to sign medical release paperwork granting them access to all of your medical data, both past and present, if you’re in a car accident. They may tell you that they can’t process your claim unless you sign the paperwork, or that it’s just a standard procedure that you shouldn’t be concerned about. If you sign these forms, the insurance company will have access to all of your medical records, not just the ones related to the accident.
What makes this so bad? I’ve seen insurance companies go back a long way in a victim’s medical history and deny reimbursement based on events that had nothing to do with the accident or the victim’s current condition. They can use anything they uncover in your medical history against you, even alleging that the injuries you’re claiming are from a previous occurrence, thereby dismissing your claim.
4. Creating Perplexity
Insurance language and contracts are boring, time-consuming, and perplexing for the average person. Insurance companies frequently take advantage of a victim’s misunderstanding (along with the many other issues they may be dealing with, such as medical concerns) to force victims to accept insufficient settlements or even sign away their rights! Consider the following disturbing storey from a recent American Association for Justice report, Tricks of the Trade: How Insurance Companies Deny, Delay, Confuse, and Refuse:
During a storm, the wind and rain cause significant damage to your home. Three hours later, the storm surge floods the lower level of your house.
The insurance company cites your policy’s “anti-concurrent” clause. You retort, “I had storm insurance.” But it makes no difference. The flood cancels out the insurance. “You should have studied your policy,” the insurance company argues, pointing to some obscure legalese in your coverage titled “anti-concurrent.”
When submitting a claim, do not sign anything until you have hired an attorney to review the forms and explain your rights to you.
5. The Refusal to Renew
Although you shouldn’t rush the process and settle right away, if you decide to go that path, don’t waste too much time submitting a claim, especially if you’ve previously called your insurance company with a question. Many insurance companies will cancel your coverage or refuse to renew a policy if they suspect you are planning to file a claim. If you call the insurance company to inquire about the potential of submitting a claim and then decide not to, they will keep a record of your call. Before contacting your insurance carrier, make sure you’re certain you’re going to file a claim.
