To recover the best settlement, you should know how the insurance company does business. As you already know, the reason any insurance company exists is to make a profit. This is the carrier’s primary goal – to make as much money as possible for its executives and shareholders.
Put simply, the insurance company must take in more money than it pays out. There are two primary ways the insurance company will make more money: sell more policies and pay out less in claims. On the claims side, the insurance company will focus on minimizing its liabilities. Any claim is a liability because it means the insurance company will have to pay out money to settle the claim.
The insurance company adjustor’s job is to settle a claim for as little as possible. If the adjustor can spot a defense or weakness in your claim, then his job is to make sure the weakness is exploited to the fullest extent possible so that it can be used to justify a lower settlement payout.
While the methods used by an insurance company may be ethical in most cases, sometimes they are not. Sometimes an insurance adjustor can actually manufacture a defense by obtaining favorable statements from you and other witnesses. This type of conduct may also include recovering or eliminating favorable evidence that might help your claim. I have handled cases where the carrier has deliberately “lost” favorable evidence. Whatever the method used to gather or destroy evidence, just remember that the adjustor is looking for any way to help the company and not you.
To achieve your goal of recovering a fair and reasonable settlement, you must provide the adjustor with strong and compelling reasons that it should pay out more to settle the claim rather than less. This is often accomplished by providing the adjustor with information and documentation to support your claim. There is some information that may be more persuasive than others. How relevant the information is depends on the facts of the case and the status of the law that applies to the claim. Keep in mind that the more persuasive the evidence submitted to support the claim, the higher the likelihood of a more favorable settlement recovery. Having an experienced attorney working in your corner gives you the absolute best chance o securing a favorable outcome in your case.
These are exact reasons as to why you should consult with an attorney regarding your personal injury claim. Contact attorney Chris Davis at Davis Law Group for a free consultation. Call (206) 727-4000 to schedule a consultation.