New York Personal Injury Lawyers
Explaining the Insurance Settlement Process
When a New York traffic accident occurs and the at-fault driver attempts to settle a claim before the person or people injured file a New York personal injury lawsuit, there are many different tactics and practices involved that are considered the norm for insurance companies. Below is a brief overview of some of these tactics, but anyone who finds themselves in this situation should seek the help of experienced New York personal injury lawyers as soon as possible.
The Reality of Insurance Companies
Before anyone engages an insurance company representative in settlement negotiations, there are certain facts that should be considered so that those who are in this position have a better understanding of what is happening and why. The overriding reality in regards to insurance companies is that they are for-profit corporations whose profit is largely defined by the amount in claims that are paid out. Therefore, those attempting to work with an insurance adjuster need to remember that they are not working for your interests, but rather are working to protect their employer as they see fit.
The Initial Offer – Medical Costs
One of the most common initial offers that’s made to settle a claim by insurance company representatives is to offer to pay for the medical costs that have been incurred by the injured person, and then to offer nothing more. Much of this cost is covered by the health insurance of those who have it, but offering to pay ‘medicals’ is an extremely common tactic.
Delaying the Process
After the initial low-ball offer is made to the injured person, it’s common for insurance company representatives to delay any ongoing negotiation process. This is common for several reasons, not the least of which is that many times, the injured person finds him or herself in a situation where they need money quickly to settle outstanding bills and to eliminate the additional time investment that would be required to continue the negotiations.
The Statute of Limitations
Everyone remembers the childhood game of ‘chicken’ that involves finding out which party will react first. When it comes to the statute of limitations in these insurance negotiation situations, the same type of game is often played. The closer a potential claim comes to the statute of limitations, the less likely it will be for the insurance company representatives to increase their offer, as many people will simply accept the most recent offer in order to avoid filing a New York personal injury lawsuit.
If you find yourself in this situation, you need to seek the help of experienced New York personal injury lawyers so that you can avoid these games and tactics. Contact Fitzgerald & Fitzgerald today to schedule a free initial consultation.
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