Insurance companies are worth billions upon billions of dollars. Despite what they may say, they don’t reach these valuations and profits by giving money to the people they’re ostensibly ensuring readily.
Getting the settlement you rightly deserve from your insurance company can be a battle. If you’re currently settling a personal injury claim with an insurance company, you know this already. But if you’re planning to, here’s what you need to know.
How Insurance Companies Verify Your Claims
To better understand how an insurance company might deny your claim, it’s helpful to know how an insurance adjuster will go about verifying your claim to begin with.
The first thing they need to do is get your side of the story. They’ll want to see any police reports or formal documentation of the event that caused your personal injury. If you don’t have any formal documentation (hospital records, workplace reports, etc.), they can immediately begin poking holes in your story and deny you your settlement.
If everything looks up to snuff there, they’ll try to find other ways to discredit you. They’ll look into your history to see if you’ve ever filed a personal injury claim before, dig up photos or posts on social media that might contradict your story or anything else you can imagine.
Some insurance companies have even been known to hire private investigators to invalidate your claim, so you must make sure you don’t give them any excuse to doubt you.
How a Claim is Valued
If or once the insurance adjuster has determined that you are worthy of a settlement, the settlement process then goes into the value negotiation stage.
The expenses being valued here are both tangible and intangible. The settlement offer should cover both your hard expenses like hospital bills, physical therapy, and prescription costs as well as intangibles like pain and suffering.
However, an adjuster will only pay out a settlement if they think you have a strong case in a civil court that has a high chance of winning. Even if you were truly the one wronged, they aren’t likely to give you the settlement you deserve unless they think you can get a settlement from a jury.
Moreover, insurance companies will most likely only offer you a fraction of the value of your pain and damages, even in best case scenarios.
Want to Begin Settling a Personal Injury Claim with an Insurance Company?
Settling a personal injury claim with an insurance company is an uphill battle. But it’s made much easier with the help of a lawyer. An experienced lawyer can go back and forth with your insurance company on your behalf. They can even take your case to court if need be.
Insurance companies simply don’t want to give you the money you deserve. So, you need someone that knows their way around their sneaky, duplicitous tactics. If you need a lawyer to help you get your personal injury settlement, be sure to contact us.