Later today, you could be sitting in your car at a red light and get rear-ended by a huge semi truck. It’s a nightmare situation with life-changing effects: injuries, medical bills, lost wages, vehicle damage, and physical and mental challenges that could go on for years.
Who can you turn to after a traumatic event like this? You’ll quickly discover that some people don’t have your best interests at heart.
A big rig’s insurance company is the prime example. They’re going to contact you, reassuring you that they care about your well-being and intend to reimburse you fully after the accident. But this is a trick. They really just want a fast, low-dollar resolution.
Your best friend after an accident or personal injury is your lawyer. They’re the only party you should rely on for accurate answers.
So what is the insurance company hiding? Here are 7 things they don’t want you to know.
#1: They’re Recording You
From the moment an insurance company initiates contact with you, they’re recording everything you say. It’s all part of the record they use to stab you in the back later.
Not only are they recording you, but they’re doing it with the help of a trained manipulator: the adjuster. This person is an insurance company employee, and they are always biased toward helping the insurance company. They’ll use your words against you to minimize your claim.
#2: They Selfishly Want You to Act Fast
The insurance company will pressure you to take a quick settlement. At first, this might sound tempting. You’re in a weakened state, both physically and financially.
Don’t fall for it. Fast settlements are almost never good for the injured party. You might need time to figure out the sum total of your medical bills, or determine exactly how much time you’ll be off work. Don’t be fooled by an insurance company that tries to lure you into a hasty settlement.
#3: Fast Doesn’t Mean Fast
A fast settlement doesn’t really mean fast, either. Let’s say you agree to settle with the insurance company within 24 hours of your accident. Because you settled quickly, it seems like the insurance company should pay quickly too.
Not so fast! A hasty settlement for you doesn’t mean haste on the part of the insurance company.
To understand why, you have to know another dirty secret about the insurance business. They don’t make most of their money by collecting insurance premiums; they make it through investments. That is, they take your money and make more money.
When you settle, they get what they wanted from you: a signature on the dotted line. They no longer have any motivation to move fast. They want to keep their investments as long as possible before cutting you a check.
#4: You’ve Got One Shot
When you settle, that’s it. You lose your ability to sue as part of the deal. Insurance companies gloss over this fact as they pressure you for a fast settlement.
Since you only have one shot to make things right, ensure you’re looking at the big picture. For example, what if you face years of neck and back pain? Wouldn’t you want this calculated into a settlement from the beginning, since you can’t sue again later?
#5: Scare Tactics Work
Insurance companies scare people into bad decisions by acting like bullies. They make threats, send upsetting letters, confuse you with jargon, and sometimes even outright lie.
They do it because scare tactics work. Unfortunately, many people are so stressed and overwhelmed after an accident, they give in to the insurance company’s demands simply to move on.
Before you feel scared, remember, they’re scared of you. They know your case has the characteristics of a valid claim. That’s why they’re working so hard at scaring you.
#6: They Really Don’t Want You to Hire a Lawyer
If you express interest in hiring a lawyer, the insurance company will say anything to persuade you not to. That should be a huge red flag that they don’t have your best interests in mind.
Decades of data show that people who hire lawyers receive higher payouts. Knowing this, the insurance company will pressure you not to get legal advice.
#7: They Definitely Have a Lawyer
Although the insurance company doesn’t want you to have a lawyer, rest assured that they have a whole flock of lawyers to protect them. They simply want to tip the scales in their favor by having good representation, while preventing you from having it too.
Don’t fall for the dirty tricks of the insurance business. Partner with Lusk, Drasites & Tolisano to protect yourself and get the maximum payout you deserve. Click here for an online consultation.