Many people face the frustrating experience of receiving low-ball payout offers from insurance companies after an accident or other incident requiring an insurance claim. These offers often don’t come close to covering the actual costs incurred. This article provides advice on fighting back against unfairly low insurance settlements.
Understanding Why Insurance Companies Make Low Offers
Insurance companies are businesses, with an incentive to minimize payouts whenever possible. Common tactics include finding technicalities to deny certain coverages, underestimating repair/replacement costs, and making claimants go through burdensome justification processes hoping they’ll give up. Knowing the motivations behind low-ball offers can help claimants strategize more effectively.
Gathering Documentation to Support Your Claim
The key to negotiating fair payouts is having ironclad documentation that leaves no room for the insurer to minimize costs. For property damage, get multiple independent repair estimates. For injuries, have doctors assess prognosis and costs. Compile records proving expenses incurred, like medical bills and receipts for damaged items replaced. Thorough documentation removes insurers’ ability to lowball.
Using Legal Channels as Leverage
Insurers know claimants are often intimidated by the legal system. But simple legal filings like small claims suits or regulatory complaints can quickly change their tune. Seeking counsel from attorneys, regulators, or consumer advocates can be an affordable way to assess legal options and gain leverage. The seriousness of legal action, even just the threat, makes insurers more likely to negotiate fairly.
Securing Third-Party Assessments
Independent assessments from established vendors or experts provide unbiased confirmation of the costs/values in your claim. For example, respected auto body shops can assess vehicle damage repair needs beyond just the insurer’s preferred shop’s analysis. Or doctors can offer medical opinions distinct from the insurance company’s paid physician reviews. Independent verification foils insurers’ attempts to minimize legitimate costs.
Getting Persistent and Specific with Negotiations
Refusing to accept a low-ball offer is only the first step. Successful claimants must then negotiate aggressively and specifically line-by-line. Question how every expense was calculated, and keep pressing for satisfactory answers. Be persistent, yet professional. Offer reasonable ways the insurer can verify components of the claim independently.
Don’t let them brush you off easily.
With preparation, documentation, establishment of legal leverage, independent third-party assessments, and persistent negotiations, claimants can fight the low-ball tactics many insurers employ. While getting fair claim settlements often requires work and diligence, it can be done.
Always Speak to a Personal Injury Attorney First
Consulting a personal injury attorney before reaching out to an insurance company is highly recommended. An experienced attorney understands the tactics insurance adjusters use to minimize payouts, and can advise you on your legal rights and realistic compensation ranges. They can help gather necessary evidence, document expenses incurred, and determine the best methods for securing fair settlements from insurance companies.
Having a knowledgeable legal advocate on your side levels the playing field against insurers and better positions accident victims to receive full and just compensation for what they have suffered. Speaking with a personal injury lawyer from Pencheff & Fraley is a vital step in getting what you rightly deserve from insurance companies after sustaining losses in an accident.
Visit us at the following locations:
- Westerville – 4151 Executive Pkwy, Suite 355, Westerville, OH 43081
- Mansfield – 33 S. Lexington-Springmill Rd, Mansfield, OH 44906
Call now for a free consultation on (866) 753-0919.
