With rare exception, insurance companies make money by paying as little as possible or nothing at all for accident claims. Consequently, insurance adjusters are usually looking out for the best interests of their employers instead of what is good for you.
Before accepting a settlement offer, you should be certain it is fair. Regrettably, insurance adjusters often try to low-ball injured individuals when they are most vulnerable. That is, you can expect an insurer to offer you less than your claim is worth. Here are three tactics an insurer may use to lower your settlement amount.
1. Catching you off guard
An insurer may use any statements you make as a reason to lower your settlement offer. Therefore, an insurer may try to catch you off guard, leaving you insufficient time to prepare a statement or gather your thoughts. Even worse, insurers often record verbal statements early, making it difficult for you to change your statement later.
2. Requesting a blanket medical authorization
Under the guise of better understanding your injury, an insurer may request a blanket medical authorization. If you provide this authorization, your insurer may use any medical issue you have ever had to decrease your settlement.
3. Moving too quickly
Insurers know money is often tight after a car accident and may use your financial worries against you, so you should question any quick settlement offer an insurer makes. On the other hand, if an insurer delays processing your claim, the adjuster may be trying to wear you down.
Even though you may want to put the accident behind you and move forward with your recovery, you should not trust an insurer to offer you the settlement you deserve. Accordingly, you must scrutinize all settlement offers and only accept the one that is right for you.