When a person submits a claim to their insurance company they will eventually have to deal with an adjuster from the company. An adjuster will be responsible for collecting all the facts of a case and determining its value. It is also the job of an insurance adjuster to pay a policyholder the lowest amount possible on a claim and keep the insurance company’s profits as high as possible. To protect your right to a fair settlement you will want to speak to a car accident lawyer before making any statements or accepting any settlements from the insurance company.
It is the goal of an insurance adjuster to pay as little as they can for a claim, but they also want to avoid a lawsuit being brought against the company. Should a person not be satisfied with a settlement claim, they have the option of seeking legal counsel and filing a civil lawsuit. In this situation, a judge or jury will determine liability, damages and what is appropriate compensation. This is not something an insurance company wants to see happen. It’s possible for a person to be awarded a settlement by a judge or jury that is much higher than an insurance company would like pay. In addition to the costs for the settlement, the insurance company will have to pay legal fees and other costs associated with defending themselves in a court case.
Determining a Settlement
An insurance adjuster will try and determine the amount a policyholder gets based on a number of different factors. The type of policy a person has as well as its limitation and coverage will create the framework to determine the amount of money a person will receive. All the actual costs experienced by a policyholder including medical bills and other tangible expenses will be taken into consideration. It will also involve any costs that could be incurred by a person in their future because of an accident. There are situations where people need ongoing care. A policyholder’s loss of wages and income will be a factor. Their emotional distress, as well as pain and suffering, will also be included when an insurance adjuster determines an accident payout amount.
They Will Not Want You to Hire an Attorney
It is not uncommon for an insurance adjuster to recommend a policyholder not hire an attorney after their accident. Individuals without legal representation often receive significantly lower payouts than those who have an legal representation. They may think they’re saving money by not using an attorney. A policyholder may not realize how much it is actually costing them. It has been estimated individuals with an attorney receive as much as three times more than those without one. Insurance adjusters are paid to get a claim as low as possible. An attorney will know insurance law and the value of a claim. They will know what is a fair settlement.
Overly Aggressive Adjusters
An insurance adjuster will be aggressive in trying to get a policyholder to give a recorded statement. They will also request a signed medical authorization form to obtain medical records. This can be used against a policyholder to decrease their claim and deny portions of it and more. An attorney will know the best way to handle these requests.
Insurance Claims and the Demand Letter
It is recommended a person never accept the first settlement offer from an insurance adjuster. They are always prepared to negotiate and will send an offer that is intentionally low. They expect to receive a demand letter from a policyholder. This is a document that will demand the amount a policyholder believes is a fair settlement. With the letter will be all sorts of accompanying documentation to show evidence of fault as well the extent of injuries and more. This could include paid medical bills, photographs, journals and more. An experienced attorney will know to send a demand letter with an appropriately high request because an insurance adjuster will try to negotiate it down.
If you live in Texas and are trying to obtain a fair settlement, you should speak with a Plano car accident lawyer about your case. Experienced personal injury law firms will know the value of a case and what is necessary to obtain a fair settlement. It’s important to know the insurance adjuster works for the insurance company, but an attorney works to get the best possible result for their client.
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