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In order to drive legally, you must have at least the minimum auto insurance coverage required by state law. This coverage is meant to provide money for accident-related expenses to the victim of a crash. While it should be a straightforward process, it seldom is because insurance companies will use their bag of tricks to make money off accident victims.
What Tactics Do Insurance Companies Use to Make Money?
Insurance companies are businesses that have a primary goal of making money. The more they spend on accident claims, the less profit they make.
If you are filing a car accident claim with the at-fault driver’s insurance company, you need to be aware of the common ways insurance companies make money off injured victims.
Offering a Quick Settlement
One of the common ways auto insurance companies make money off car accident victims is by offering them a quick settlement. You may feel tremendous relief when they offer you a check as you likely have concerns over how you’ll pay for the expenses caused by the crash.
However, the insurance company isn’t doing this out of concern for you and your well-being. They do it because they don’t want you to know that your case could be worth much more. Once you accept their offer, you can’t ask for anything more and they don’t want you to know this.
Asking for Recorded Statements
After an accident, it is common for an insurance adjuster to contact the injured party to ask about the accident. They will ask you for permission to record your statement, making it sound like it’s required. Most accident victims do not realize they are not obligated to make a recorded statement.
When you fall for this tactic, they can take anything you say and use it against you or ask leading questions to deceive you. If you get a call from an insurance adjuster, just let them know that you will put them in touch with your attorney.
Delaying Your Claim
Some insurance companies will delay your claim even if you file it soon after the crash. Every time you follow up on the status of the claim, you get the runaround and feel like nothing is being done. They hope this will wear you down, making you more willing to settle for less than you deserve.
Requesting Additional Medical Records
Insurance companies will need to see your medical records for the injuries you’ve sustained in the accident. There’s nothing unusual about this, but beware if they ask to see your medical records for anything that occurred prior to the accident. They will use this to either deny or decrease the amount of your claim.
How to Get Your Money from the Insurance Company After a Crash
It is wise to consult an injury attorney with experience in car accident cases to help stand up to the insurance company. An attorney will be your advocate throughout the legal process and make sure you are not taken advantage of when seeking the compensation you deserve.