February 3, 2023

Three Signs the Insurance Company is Lowballing Your Claim

Many states make insurance mandatory for residents to protect any parties involved in an accident. We give them money every month so that if something terrible were to happen, we will be able to recover financially with the help of an insurance policy. Despite this, your insurance company may not be looking out for your best interests after a New York City car accident.

It’s frustrating to be taken advantage of by a large corporation that is supposed to serve the people. It can be difficult to tell sometimes when your insurance company is being deceitful. Below, you’ll find three signs to help you determine if your insurance company is lowballing you.

The Settlement Offer Comes Suspiciously Fast

For a case that isn’t complex, the fastest time to expect a settlement should be four to six weeks. More complicated claims can take between three and six months, sometimes longer. Insurance claims require a lot of documentation that needs to be compiled and combed through thoroughly to ensure the settlement you receive is fair. 

These documents include medical documents, invoices, photos, videos, witness statements, police reports, a timeline of events, and any relevant receipts. If you receive a settlement offer before four weeks, it may mean that your insurance company has skimmed the information to give you a lower number than your case is actually valued at.

If they pressure you to accept their first offer quickly, they are likely trying to rush you out of talking to a lawyer. Regardless of the timeline that your offer comes, it is wise to run through the information with a lawyer, to ensure you are getting a fair number.

They Won’t Answer Your Questions

Something may be wrong if your insurance company is dodging your questions or giving vague answers. If you ask for a breakdown of the math so that you can better understand the value of your claim and they refuse or even refuse your claim, that’s a red flag.

There is no reason that your insurance company cannot give you a breakdown of the settlement so that you can understand what you are being paid for. In these cases, you may need a lawyer to determine what your claim is worth and advocate for the damages you’re actually due, not what they’re willing to pay.

They Ignore You

When you start asking questions, it can put pressure on your insurance company to protect its interests. Because they do have to answer your questions eventually, they may begin avoiding you, also called ghosting. This may include not returning your calls or responding to your emails.

This tactic is often employed to wear you out so that you just settle for their lowball offer to avoid further interaction and waiting. If they can exhaust you from trying to chase down the answers you’re owed, the likelihood that you are willing to accept less than you deserve increases.

Don’t let them manipulate you. Get legal representation involved as soon as possible, so that your insurance company can’t take advantage of you.

Reach Out to an Attorney Who Can Help

If you think your insurance company might be lowballing you, don’t hesitate to seek reliable legal counsel. Greenstein & Milbauer, LLP’s motto is “Don’t be a victim twice!” They understand that your insurance company may attempt to swindle you out of the compensation you are owed following an incident, victimizing you again after a terrible accident.

When you’re ready to protect yourself and your future, reach out for a free consultation. For legal counsel you can trust, call our legal team today at 1-800-VICTIM2 (842-8462) or fill out the online contact form below. 

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