Home//FAQs//What Is the Process When the Insured and Insurer Are Unable To Agree on the Amount of a Claim To Be Paid?
When the insured and insurer disagree on the claim amount, the insurer can negotiate. Insurance claims are not always settled during negotiations, though. In these situations, the insurance company wants the insured to ask for less, and the insured feels like the company is offering too little.
If the insured and the insurer cannot agree on the total amount, a lawyer can act as a mediator. The lawyer will attempt to resolve the claim out of court. If the two parties cannot do this, the plaintiff might file a lawsuit.
Why Insurance Companies May Offer Low Settlements
The claim dispute begins when the insurance company counters the insured’s requested amount. The insurance company will do this because they are, first and foremost, a business.
Businesses need to make profits and improve their bottom line; an insurance company is no different. They seek to ensure that their end-of-year finances reflect an overall profit made. Continually giving out high settlements will not help the company’s financial statements.
The insured party expects the insurance company to honor the insurance policy terms, including coverage following an accident. However, the insurance company does not always expect to pay the agreed-upon amount and often looks for ways to nullify the contract or lower the expected amount.
What To Do When the Insurance Company Refuses To Fairly Settle Your Claim
After settlement negotiations reach a stalemate, you might be at a loss on what to do. At this point, there are several steps to take next.The first thing you could do is obtain a lawyer. Your lawyer will help make the next steps easier with the goal of obtaining a worthy settlement.
Your attorney will mediate the settlement talks on your behalf. Mediation requires neutral parties to discuss the settlement terms with both parties. The insurance company will already have its attorney at hand. At this stage, there will have to be a compromise.
If mediation fails and an agreement is still not reached, you could file a lawsuit. Your case will be brought before a court of law and heard by a judge and/or jury. At this point, the work of both lawyers is to prove their clients’ points of view. The court chooses what amount the insurance company should pay once your lawyer confirms that they are liable.
How a Lawyer Can Help You Secure Fair Accident-Related Compensation
As an insured party, holding insurance companies accountable to the terms of your policy is not easy. There are a lot of documents, legal jargon, and loopholes to keep the company from paying too much money. This gives the insurance adjusters a significant advantage over the majority of policyholders.
Your Lawyer Will Negotiate With the Insurance Company
As settlement talks go on, it can be tempting to settle for less than your policy calls for, simply to get the process over with. The need to get on with the rest of your life can result in rash decision-making. Your lawyer will handle all the talks and legalities for you, giving you time and energy to focus on recovery and moving forward.
Your Lawyer Will Search for Evidence That Supports Your Claim
Part of a lawyer’s job will be to collect evidence to prove why you are asking for that specific settlement amount. This includes photos of injuries, doctor’s reports, police reports, mechanic reports, and so on.
Your Lawyer Will Use Their Knowledge and Resources for Your Benefit
Your lawyer will also read through your insurance policy and the terms and condition of the insurance company for any loopholes or ways to get you your money faster.
With their knowledge of legal jargon, attorneys help with the mediation and negotiation to ensure you do not get short-changed. With the support of your lawyer, you can benefit from your policy even when you don’t fully understand the fine details of it.
An attorney ensures that all the months or years of paying a premium to your insurance company will pay off. Your attorney is the only one who will look out for your well-being when it comes to an insurance claim.
George Sink, P.A. Injury Lawyers Can Help With Your Personal Injury Case
Our attorneys are equipped with over 40 years of experience and are ready to help. We have resolved over 5,000 cases, and yours can be next. If your insurance payout involves injuries, our personal injury lawyers can sort it out.
At George Sink, P.A. Injury Lawyers, our attorneys are committed to ensuring our clients get their desired settlement. And don’t worry about upfront fees; we won’t charge you anything until we win your case. Contact us today and book your free consultation to talk about car accident or slip and fall claims.
