How to Maximize Your Auto Insurance Settlement

Maximizing your auto insurance settlement is an important part of the claim process and something that should be given a fair amount of consideration. This isn’t to say you should cheat or defraud your insurance company but you should get fair value for your claim. The insurance company is going to be working hard to pay you as little as they can get away with, but you need to ensure you get a fair settlement.

Often, insurance companies will tell you they need a recorded statement from you in order to process this claim, this not only is not required but it is designed to get you on the record in order to ensure a smaller payment at a later date. This conversation is often loaded with questions such as “describe the extent of your injuries.” Some of these questions not only can catch you off guard but when asked at the time of an accident cannot be properly answered. Especially in the case of injuries you may not know to what extent you are hurt until a later date. Describing what happened moments after it happened is difficult and victims are often confused and hurt and may do themselves a disservice. In many cases the answers you give could actually lead to a claim being denied because they insurance company has you on record claiming something that may not be precisely true.

You have the right to not only contact a lawyer prior but also to have that lawyer present when answering any questions. Your lawyer will not only know the proper process of filing a claim, but he or she is there to protect you. The second thing you can do is to document all of your conversations with your insurance provider. Hard copies of letters, emails and other conversations protect you in the event your claim is denied or you are offered less money than you were initially promised. If you are unhappy with your settlement you can also ask to speak with a supervisor. Many times a supervisor has the authority to increase your claim where an insurance adjuster will not. Lastly if you are still unhappy you can ask to have your claim arbitrated or resolved in a legal manner. Mediation and arbitration allows an outside third party to oversee the dispute and help resolve the matter.

Suffering from an accident is never pleasant but you shouldn’t have to worry about your claim being denied or having out of pocket expenses because your insurance company won’t pay what they should. It is always a good idea to contact a lawyer in the event of injury accident and to make sure any statement you give is done at the appropriate time when you have had a moment to collect your thoughts. Some insurance companies will go to great lengths to pay you as little as possible. Protect yourself as much as possible in order to maximize your auto insurance settlement.