Five Reasons Why You Shouldn't Trust Insurance Companies

Five Reasons Why You Shouldn't Trust Insurance Companies

The insurance world can be complex and difficult to understand. Whether an insurance company is a large corporation or a small office found in your local neighborhood, the goal for each company is the same: to generate profit. As a result, the insurance industry has become extremely successful and profitable.

Many of these companies go to great lengths to protect their interests and those individuals who pay premiums to keep themselves insured. In essence, purchasing insurance can allow a person to gain peace of mind. It can protect an individual in the event that they are involved in an accident. However, insurance companies and their plans are not infallible. In fact, if another person causes an accident involving the insured person, the insured person’s insurance company has no obligation to provide the victim with any amount of compensation. They are only obligated to protect the insured—and their pockets.

To help persons understand, our team of Clearwater personal injury lawyers would like to shed light on the practices these companies use on a day-to-day basis. At our firm, we believe it is important that consumers understand why these insurance companies are so profitable and the measures these companies will go to ensure they generate profit.

1. Many Insurance Companies Will Make Any Excuse to Deny, Deny, Deny.

Unfortunately, insurance companies’ motives for denying claims are not always the most ethical. For example, if a person was receiving treatment for back pain prior to an accident, an insurance company may try to claim that the person’s condition was pre-existing and had no relation to the incident. Additionally, some companies may award bonuses to employees for every claim denied. Insurance company employees may also be fired if they do not secure enough denials.

2. There’s Always a “Catch.”

Because we have a free-market system, any business entity can draw up a contract to suit their needs best. This means that when a consumer signs a contract, the individual may not always be aware of the “fine print” stipulations that may not allow them to pursue a claim or a payout for the claim.

3. Their First Offer is Always the Lowest Possible.

In many cases, an insurance company will use this tactic to offer a person the lowest possible amount of compensation in hopes that the claimant will quickly accept the money and end the process. Unfortunately, this means that the claimant cannot pursue any more compensation in the future for that incident. This is when it becomes crucial to hire a personal injury lawyer to fight for their rights.

4. Insurance Companies Do Not Always Move Quickly.

Many insurance companies will move slowly intentionally. By doing so, insurance companies hope that claimants will become impatient or desperate enough to accept a low offer. In fact, some companies have been known to hold off on claims until the insured person has passed away.

5. The Insurance Company Can Cancel A Person’s Policy for Petty Reasons.

Some insurance companies will use minor reasons as excuses to cancel the policies of consumers. For example, if a person calls the insurance company to inquire about the possibility of a claim, the company may view that as a red flag and refuse to renew that person’s policy. In addition, a company may refuse to renew a person’s policy if the person has admitted fault during an accident in an attempt to avoid liability and deny claims.

Contact Roman & Gaynor Today!

At Roman & Gaynor, we believe it is important that you understand insurance adjusters have been trained to undermine the worthiness of claims in order to protect themselves from any type of responsibility. That is why we believe it is always important for accident victims to retain legal counsel from a Clearwater personal injury lawyer immediately after an accident. Our team can ensure your rights are properly represented. If you have been involved in an accident, get in touch with our firm today. We are backed by roughly fifty years of experience fighting for the rights of accident victims. Due to our commitment to help others, we have recovered nearly $65 million in settlements. We have not only seen success—we have achieved it!

Call Roman & Gaynor to set up a free case consultation or fill out our online form, and a member of our team will reach out to you shortly.

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