How do I know whether the insurance company offered me fair settlement?
Given the protocol that most insurance companies follow, meaning they strive to reduce or dismiss claims to keep their bottom line low, it is unlikely that the first offer is a fair one. It is entirely possible that your case is worth more. With an attorney handling the details, you are likely to get far more than insurance company would offer.
Here’s how to tell if an insurance company is stringing you along in the hopes of getting you to settle for less than you are entitled to for your injuries. The first sign is the insurance adjuster telling you that you do not need a lawyer and that their offer is really a fair one. The truth is that an insurance company makes more money by paying you less on your claim. That means they are negotiating against you. What is important to them is not you but their bottom line. Insurance adjusters know that if you hire an attorney, it is likely going to cost them more.
A second sign to watch for is an insurance company making a quick settlement offer within a few weeks or months of your accident. Having a case settle within weeks or months is pretty rare, simply because no one really knows the full extent of your injuries. If an insurance adjuster can get you to settle fast, they get to keep back more money that should have gone to you to pay for your injuries. Be wary of any insurance company that calls you right after an accident and wants to make an offer. Your first call should be to Melaragno, Placidi & Parini. We will deal with the insurance company.
The third thing to be on the lookout for is the insurance adjuster saying that you are not entitled to pain and suffering because you have limited tort insurance. What most do not know is that there are several exceptions to that rule.
The fourth thing that insurance companies have been known to attempt is to ask you to sign authorizations for your personal medical records. Under no circumstances should you sign anything an insurance company hands you without having legal advice. The insurance company is absolutely not entitled to your whole medical history. They can only access relevant records. What insurance companies are doing by asking for all the records is fishing to see if your current injury could have been a pre-existing injury.
Other Car Accident FAQs:
- How do I know if the insurance company offered me fair settlement?
- I was involved in a car accident and was pretty badly injured. Do I have to file a claim under her personal injury protection (PIP) coverage?
- I was involved in a car accident, but had no immediate injuries. Now, I feel my injuries. What should I do?
- I was the victim of a hit and run accident. What should I do now?
- What is the difference between limited tort and full tort insurance coverage?
- What is the statute of limitations in Pennsylvania?
- While driving to work I was hit by another vehicle. What happens if the other driver does not have insurance?
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