What You Should Know about Insurance Companies
Find Out Why You May Need an Attorney to Get Compensation
Insurance companies are more than happy to make a profit as you pay premiums. But if you've been injured or lost a loved one in an accident, you may find they are less than willing to make a payout.
You may face delays, denials, and various tactics used by insurance adjusters, statisticians and other representatives to minimize the compensation you deserve. Insurance company adjusters will often dispute claims and take questionable actions to reduce or deny claims.
The experienced legal team at the Whaley Law Firm knows how physically, emotionally and financially devastating a car accident, truck wreck or any type of accident resulting in a personal injury can be. Many victims are surprised to find out just how unhelpful the insurance company can be when they are filing claims and trying to get fair compensation. They quickly learn the insurance company's interests are at odds with their own.
We know how to deal with insurance companies and demand full compensation for clients. We are aware of common insurance company tricks and tactics - and how to negotiate a favorable settlement on behalf of clients.
Click on the following links to learn more about common insurance company issues personal injury victims face.
- What is Bad Faith?
- Should I Give a Recorded or Written Statement to the Insurance Company?
- Should I Accept The Settlement Offer I Received From The Insurance Company?
- Do I Need to Notify My Own Insurance Company if the Accident Wasn't My Fault?
We believe the best way to get maximum compensation for your injuries is to hire a knowledgeable, experienced Louisville attorney. The Whaley Law Firm has a track record of success standing up to insurance companies and obtaining desirable results for clients. We are prepared to fight for you. Call our firm today at 866-703-7575 for a free case evaluation.
If you're involved in an accident, it's reasonable to expect your insurance company to respond and pay the benefits outlined in your policy. Insurance companies are obligated to handle claims - such as car accident claims - with efficiency and a high degree of ethical conduct. However, sometimes insurance companies act in "bad faith," putting corporate interests and profits ahead of the well-being of policyholders.
What are examples of how an insurance company may deal in bad faith with clients?
- Unreasonable low offers to compensate policyholders
- Confusing wording used in an insurance policy
- Claim delays or denials without reason
- Refusing a settlement offer and then losing in court for a larger amount
- Intentional fraud or deception
- Failure to investigate or person due diligence
- Failure to act within a reasonable time
The Whaley Law Firm takes an aggressive stand against insurance companies that fail to perform their duties with due diligence. Do not let insurance company representatives treat you unfairly, argue with you or try to downplay your injuries. We can ensure your rights are protected, communicate with your insurance provider and negotiate a fair settlement to cover the true long-term cost of your injuries.
Should I Give a Recorded or Written Statement to the Insurance Company?
As a general rule, no. After an accident, the insurance company adjuster for the at-fault party may contact you and request a statement. The adjuster may sound friendly. You might not think there's any harm in giving a recorded or written statement. But we strongly urge accident victims not to make any statements without first getting the advice of an attorney.
Remember, the adjuster works for the insurance company, which is in business to make profits. The money they pay out to victims chips away at the bottom line. Claims adjusters are trained to find ways to keep payouts to a minimum - or even deny a claim if possible. One way to hurt a victim's claim is to get the victim to make a recorded or written statement. The insurance company then can scrutinize every word you say and may twist your statement to suit their needs.
They may try to say you were partially or fully at fault for an accident caused by somebody else's wrongdoing, based on something you said in a statement. They may try to downplay the extent of your injuries because maybe you told the "friendly sounding" adjuster you're feeling fine on that particular day (injury victims can have good and bad days for years after the accident).
Remember, you have a right to say no when asked to give a statement to an adjuster after an accident. The Whaley Law Firm recommends contacting an experienced attorney who can handle the insurance company adjusters and other representatives.
Should I Accept The Settlement Offer I Received From The Insurance Company?
Once an insurance adjuster has medical records, bills, and other information necessary to value your case, the insurance company will place a value on your case. The primary goal of an insurance adjuster is to offer you a settlement beneficial to his or her insurance company. Before offering a settlement, adjusters consider whether injury victims would be able to recover compensation at trial, and how much compensation a victim would recover along with other factors.
Once the adjuster assesses your chances of obtaining a favorable verdict, it is only then he or she will make a settlement offer. Often, this settlement offer may discount medical bills based upon whether your bills come from heath care providers other than hospitals or physicians. Even worse, an insurance company's initial offer may require the first settlement offer may be dictated by specialized software that assesses a claim and offers merely a percentage of the value of the case.
Do not accept this offer. Contact an attorney. You can level the playing field by hiring an experienced legal advocate. In many cases, accident victims who hire an attorney receive more favorable offers. An attorney can evaluate the true cost of your injuries and other long-term damages, negotiate with insurance companies and fight tirelessly to ensure you receive the benefits you deserve.
Do I Need to Notify My Own Insurance Company if the Accident Wasn't My Fault?
While Kentucky law does not require you to report your accident to your insurance carrier, your contract with your insurance company may require you do so. A failure to report the accident in a timely manner (in a day or two) may result in denial of coverage for the accident or even cancellation of your policy. If the accident was not your fault, your rates should not be affected.
We suggest sticking to the facts and avoid discussing who was at fault. If you are concerned about talking to your insurance company about your accident, contact the Whaley Law Firm for a free and confidential consultation before you call your carrier.