Unfortunately, most insurance companies use this strategy in cases in which the damage to vehicles is not severe. According to an article published by CNN, most major insurance companies in the U.S. have adopted a "take it or leave it" attitude when it comes to paying out on minor-impact claims. This means that accident victims across the country are being forced to go to battle with the insurance companies over monetary compensation that they are owed.
What does this mean for policyholders? According to a University of Nevada insurance law professor, "policyholders individually are getting hurt by being dragged through court on fender-bender claims, and we don't see any collateral benefit in the form of reduced premiums." On the flip side, this approach has resulted in billions in profits for the insurance companies.
In fact, a former attorney for a major insurance company explained the company's strategy: make the fight over a claim expensive and time-consuming so that lawyers will start refusing to help clients. A former claims adjuster said that company employees were encouraged to resolve minor-crash claims as quickly and inexpensively as possible, even offering car accident victims as little as $50 to settle.
A woman named Roxanne Martinez witnessed the insurance company's tactics first hand. Several years after the collision, she was offered $15,000 to settle her claim. The settlement accounted for a little more that half of her medical bills and lost wages and virtually no compensation for her pain and suffering. She decided to take her case to court. The jury awarded her $167,000 plus interest.
If you or someone you love has been faced with a similar set of obstacles after being injured in a minor-impact collision, call Gounaris Abboud, LPA. We will help you fight against the insurance companies to get the compensation you deserve. Don't let the insurance companies pressure you to accept a low settlement. Call our office today at (937) 660-8429. Your initial consultation is free.
Don't be a victim twice. Call today.