Top 2 Reasons Why Insurance Companies Offer Low Settlements

If you were injured by a negligent party and you decide to file an injury suit against them, you are likely going to be doing so through their insurance provider. Dealing with insurance agents is notoriously difficult because insurance adjusters are taught how to employ deceptive tactics to get claimants to accept very low settlements. When a claimant knows this and can identify when they are being treated unfairly, they can respond appropriately. Still, even if a claimant knows what they are up against, getting to a reasonable settlement for the full amount of damages that were suffered is rarely easy. Insurance adjusters make it frustrating and challenging to get the money that is deserved after an injury accident.

After an injury accident, claimants have the right to have an attorney help them with their case and take on the task of communicating and negotiating with the insurance company. Often, claimants who are taking legal action have suffered serious injuries that are distressing enough and require their full attention to heal. With the assistance of an attorney, injured claimants can put their full focus on their health and getting better while their attorney advocates and fights for them and manages their claim.

Injured parties in Pennslyvania can trust and count on the skilled Philadelphia personal injury attorneys at Edelstein Martin & Nelson, LLP, to help them when they decide to file a suit.

Understanding Why You Received a Low Settlement

Receiving all of the damages you are entitled to is essential after an injury accident. The purpose of monetary compensation in an injury suit is to help victims be made whole again and as close as possible to where they were before the accident happened. Since injury accidents can produce catastrophic damages, such as the destruction of expensive personal property and debilitating injuries that require costly medical treatment and care, it is imperative to secure fair compensation that accurately reflects the totality of damages. Otherwise, a claimant who accepts an offer that is too low will be left with the financial burden of paying for everything that their settlement didn't cover out of their own pocket.

Understanding why lowball offers are the industry standard when a claim is filed can be beneficial. These are the two top reasons behind insurance adjusters offering low settlements:

• Maintain the insurance company's bottom line and do not dig into profits. The higher the settlement, the more the insurance company has to pay, which affects their profits. As a business, high profits always come before fair settlement offers.
• Taking advantage of claimants. Insurance adjusters will test claimants to get an understanding of their knowledge of the claims process. If the claimant appears to be unaware of their rights or the value of their claim, the insurance adjuster will use this to their advantage to offer a low settlement because they do not believe the claimant will know enough to reject it. Once an offer is agreed to and signed off on, a case will be closed, and a claimant will have little recourse to return to the insurance provider and obtain additional compensation.

Speak with an Attorney at Edelstein Martin & Nelson, LLP

If you were injured in a Pennsylvania car accident or another injury accident, knowing what to expect from the insurance adjuster gives you the edge and ability to safeguard your financial interests. Since personal injury suits can be complicated, having an attorney can help you get what you are entitled to while you are on the mend. Call Edelstein Martin & Nelson, LLP today at (215) 731-9900 and schedule a free consultation with an experienced Pennsylvania personal injury attorney.