How Insurance Companies Low Ball Claims

 

If you’ve ever filed a claim against an insurance company, you know that they’re not in a hurry to give you top dollar. They are trained to use every means possible to deny or reduce how much money they pay out in claims. That’s why unrepresented claimants collect pennies on the dollars when compared to plaintiffs represented by experienced negligence lawyers in Queens. Wittenstein & Wittenstein is the Queen, Manhattan, Brooklyn, Staten Island and Bronx car accident attorneys that’s trusted by more New Yorkers than any other firm.

Low Ball vs. Policy Limits

The first thing to understand is the difference between a lowball offer and a tender of policy limits. Due to the virtual impossibility of collecting any funds personally from most civil defendants, claims are usually limited to collecting the total amount of insurance coverage available for a claim. For example, if you sustain catastrophic injury, but the policy limits in effect are $25,000 that’s probably all you’ll be able to collect. So, when the insurance company offers to tender their $25,000 policy, this is NOT a low ball offer. On the other hand, if you’ve sustained a fractured leg and lost months from work because a drunk driver hit you in the rear as you waited motionless at a red light, an offer of $10,000 on that same $25,000 policy would be a low ball offer. No insurance adjuster would dare make that offer to an experienced negligence lawyer in Queens!

Prompt vs. Rushed Settlement

No claimant wants to imagine their case file sitting in around collecting dust, but a rushed settlement usually leaves money on the table. This is because collecting the highest possible amount of compensation for an injury victim requires a complete package of medical evidence that includes their diagnosis and prognosis. Insurance companies eager to save money on payouts will often contact injured victims immediately after an accident, offering them $500 or $1,000, which is less than it would cost for them to hire counsel to defend a lawsuit. They do this because they are hoping to get people to settle before they become aware of the severity of their injuries.

Hire A Negligence Lawyer In Queens

Wittenstein & Wittenstein is the negligence lawyer in Queens that offers free consultations to determine whether you have an actionable case. If your case is accepted, you risk nothing because you will only have to pay a fee if you collect money. Call 718-261-8114 for a free consultation.