Top Reasons Why Most Insurance Companies Prefer Moving at a Slow Pace
In the recent few years, a considerable number of people have died and suffered severe injuries due to car accidents. More than ever, the number of four-wheelers that rule the roads and highways has increased, which is ultimately adding to the number of car collisions. Individuals who survive despite encountering a major car crash find it extremely challenging to lead a happy life due to severe physical and mental health conditions.
Aside from the notably poor overall health conditions, a car accident victim also suffers from financial crisis. Most of them eagerly wait for receiving the rightful compensation for the injuries they sustained and damages to their property. Victims are required to pay costly medical bills despite not getting any financial assistance from their workplaces as they lose the capacity to do their jobs effectively and earn monthly income.
You are severely injured due to a car crash that took place recently and has been wondering why my insurance company is stalling despite reporting the incident right away? You should know that in reality, most insurance companies stall, and do not show any interest to make a quick settlement.
Here is why most insurance companies intentionally take a long time for a settlement.
Before light is thrown on real reasons that compel most insurers to drag their feet, it is of the utmost importance to contact a professional car injury attorney with impeccable negotiation skills. Ask a legal professional specialized in car injury laws, and he too will say that insurance companies deliberately delay a settlement only because they reckon they benefit from doing the same.
Read on to know the two real reasons:
To Put Pressure on Victims
Insurers know how much pain and stress it is for car accident victims to live life after sustaining injuries, damages and losses. They take advantage of such situations and try to put more pressure on victims when they are in dire need of financial compensation to pay their medical bills and meet daily household needs.
Insurance companies delay making a settlement because they know that putting pressure on victims can make them accept a compensated amount much less than what they deserve for injuries. Also, they know that no victims can ask for compensation once they sign on the dotted line.
To Put the Case past the Limitations’ Period
You should know that not every accident case settles outside. To vindicate their rights, a considerable number of car accident victims file a lawsuit and fight until they prove the liability of the at-fault individual in court. Victims get two years in the majority of the cases to file their claims.
Most insurance companies deliberately try to push accident cases past the limitations period. Victims that delay filing a lawsuit and proving the fault of the responsible party because of their insurers could end up with no compensated amount at all.
Aside from the aforementioned ones, most insurance companies want victims seeking fair compensation to give up. Without sound knowledge and excellent communications skills, putting your points across may not be possible. Get in touch with an expert car injury attorney to negotiate with your insurer and drive the rightful compensation for injuries.