Is Your Insurance Company Trying to Low-Ball You?

It can be discouraging to know after sustaining injuries in a motor vehicle crash that the amount of compensation you will receive from a car insurance company may depend on a computer software program.

Damages caused by the person who is driving the vehicle are covered by bodily-injury liability. Usually, insurers make use of software programs that determine payments on what has been paid in previous settlements for similar claims in the region in which a person is living, and according to critics, the software can result in decreased amounts paid for injuries suffered by the person.

An alert for insurance consumers

Recently, the Consumer Federation of America alerted that some insurers tune the software programs they use so that liability payout offers are low-balled to save costs.

According to Thomas J. Simeone, a personal injury attorney in Washington, D.C., computer-assisted settlements are “just a pain to deal with. It is not much fun dealing with a robot. It is hard to negotiate a case”. He added, “The general rule is that it is an internal mechanism they go through and they do not want to disclose that. They don’t tell you 100 percent what they are looking for because they don’t want to be manipulated. It kind of puts them in the driver’s seat”.

Tips to help get a great auto insurance offer

One cannot do anything about insurance companies making use of computer software to determine the cost they pay for the insurance but you can make yourself safe by following these tips:

a. Keep record of everything related to the case

If you plan to make a claim for auto, life, health or home insurance, you should keep record of everything connected with the case. Simeone suggested that for a bodily injury auto claim, a person should have itemized billing statements for their medical care. They should “be as specific and detailed as possible regarding every injury sustained, including every diagnosis and treatment.”

According to a trial lawyer in Raleigh, N.C., Michael S. Rothrock, the person should take images of property damage at the accident spot.

b. Documents of medical history, important to receive a good compensation amount

Your medical provider should know your full medical history. To deal with bodily injury claims, auto insurance companies require knowing the condition of the person completely.

c. Know if the insurance company is using software to determine the amount of compensation

Many insurance companies refuse to tell how they determine the compensation amount but you should force to get details. Software systems typically generate a range of results, including a “high” and a “low” offer and sometimes even the high range is low.

d. Ask questions without any hesitation

According to Hunter, you should not hesitate in asking questions from the insurer. “A lot of people don’t like to be involved in confrontational situations. You have to ask questions.”

e. One should not sign if he/she is not ready

You should not sign a release of all bodily injury claims because then you will not be able to go back if you have to pay additional bills. Most insurers like to settle quickly. If an insurer fails to settle for an amount which the consumer thinks is not enough, then he/she has choices, in which the right to file a complaint with his/her State department of insurance or hire a lawyer is included.

By keeping the above mentioned tips in mind, you can make yourself safe.

News Source: www.Foxbusiness.com