After a crash, you depend on your insurance to provide you with financial support. Unfortunately, insurance companies may try to avoid paying you the full value of your claim to protect their bottom lines. One way that companies may do this is by trying to rush you to accept a settlement offer.
How might insurance companies push you to make a hasty decision?
You probably know that timing matters in an insurance claim. However, taking the time to assess a settlement offer is often just as important as meeting deadlines. An insurance company might rush that assessment in many different ways to avoid paying you as much as you need. These tactics include:
- Providing a quick initial offer: Insurance companies might offer a quick settlement early in the process. This can be appealing if you need immediate financial relief, but these offers are often lower than what you might be entitled to. You might not know the full extent of the damage you suffered, making it difficult to determine whether the settlement offer is too low for your situation.
- Pressure tactics: Insurers might pressure you to settle quickly by suggesting that their first offer is the best you will get, or by implying that a longer process won’t necessarily yield more money.
- Requesting excessive documentation: Sometimes, an insurer might rush you for paperwork and then delay the process after submission. This can be a tactic to wear you down and make you more likely to accept a lower offer.
- Minimizing injuries or damages: Adjusters may downplay the severity of your injuries or the extent of damage to coerce you into feeling that your claim is worth less, prompting you to settle quickly.
- Communication overload: The company might overwhelm you with legal and insurance jargon, hoping that the complexity will discourage you from pursuing a higher claim.
- Other communication challenges: Companies may delay communication with policyholders, hoping that they’ll settle for less out of desperation once the company makes an offer. You may also face communication delays due to companies like Geico closing their offices in California, meaning that all communications will be with out-of-state offices.
- Deadlines: Insurers may emphasize that there are strict deadlines for accepting the compensation offer. This can be a way to push you to make a quick decision without proper legal consultation.
It might be tempting to take the money and move on, especially when you’re in a vulnerable situation. However, this can mean that you receive much less than what you are entitled to. It’s important to take your time and consider speaking to a personal injury attorney before accepting any offers.
Remaining aware of the ways an insurance company might push you to make a hasty decision is important. This knowledge can also help you ensure that you make informed decisions in the aftermath of a crash and fight to receive the full value of your claim.