Insurance companies are meant to protect people if they are hurt as a result of someone else’s negligence. At least, that is what we believe. Individuals pay a premium amount each month for coverage that, in case of a severe injury, is supposed to adequately cover the expenses resulting from the accident. Far too often, however, insurance companies are only looking out for their bottom line.
As a result of their focus on profits, insurance companies may not always provide injury victims with the coverage necessary to help with medical expenses, lost wages, and more. Instead, they offer settlements that may be less than what the plaintiff may recover in a trial—but why is this?
Trials Force Insurance Companies to Address Negligence
Shortly after an injury-causing incident, the victim may receive an offer from the insurance company to settle the case without going to court. Insurance companies are bound by law to act in good faith with their customers; however, insurers sometimes prioritize profit over people. Some individuals are pressured to accept any initial offer because they “feel” it is adequate, and they want to avoid trial.
Unfortunately, this is often a common practice by insurance companies in an attempt to not only avoid trial but avoid paying maximum compensation and avoid taking responsibility. Admitting negligence often sets precedence for further cases similar to that which you are facing. As a result, it the amount awarded via verdict may be the new standard, something that insurance companies fear happening.
Insurance Companies Want to Resolve Matters Quickly
Injury victims have rights due to the negligence that played a part in the accident. There are laws in place that hold negligent parties financially liable for the damages they cause. Unfortunately, insurance companies often try to take advantage of the vulnerability of the survivor to resolve the issue quickly.
Insurance companies offer what they consider to be enough while also protecting their bottom line. In turn, they save on court fees, avoid paying maximum compensation, and avoid the public attention that they would receive in a trial. The victim, on the other hand, can get the short end of the stick because they are already going through a difficult time and don’t want to struggle with a seemingly endless legal process. Because of this, they are quick to take lower offer settlements—and insurance companies know this.
At Handler, Henning & Rosenberg LLC, we believe that accident survivors or their families deserve to live a healthy life without concern for security. We work hard to protect our clients from the insurance companies and their tactics. If you have been harmed due to negligence, don’t be quick to accept just any settlement offer. Speak with our Pennsylvania personal injury attorneys first.
Call our firm at (888) 498-3023 to discuss your legal rights and options today.