Life changes after a serious auto accident. Problems are coming from all directions – health problems, job problems, money problems, family problems. When the insurance adjuster wants to make an offer to settle the claim, it sounds like the problems have been solved. Before accepting this offer, sit down and talk to an auto accident attorney in Allen County IN.
It’s a Mistake to Settle Too Soon
It’s not usually possible to know the full extent of the injuries until some time has passed. A case of whiplash, for example, can linger and impact someone’s ability to perform their normal activities and be resistant to treatment. It’s impossible to predict the extent or costs of future medical expenses. Many people would greatly underestimate how much money would be needed.
Expect any Statement Made to an Insurance Adjuster to be Recorded
Indiana is a “one person consent” state for recorded conversations, meaning that only one person (the adjuster) has to consent to recording the conversation. It’s safest to assume that the adjuster is recording any conversation. For this reason, severely limit information given to the adjuster about the accident, your injuries, employment or salary.
The Insurance Adjuster’s Secret Numbers
Each claim that an insurance adjuster handles has two “secret” numbers: the dollar amount that the adjuster thinks the claim is worth and the highest amount that the adjuster is allowed to offer, known as the adjuster’s “authority.” No adjuster wants to settle for the highest number. Their boss won’t like it. They will always offer as little as possible and hope it’s accepted. Their paycheck comes from the insurance company, after all.
How Insurance Companies Make Money
Insurance companies make money in two ways:
* Investing the money received from premium payments
* Paying out less in claims than is received from premiums
An insurance adjuster may have 100 claims to close at any one time. They are always under pressure to keep settlements as low as possible. Whether the adjuster seems friendly and concerned or not, it’s all about the numbers.
If you’ve been injured in an auto accident, it’s in your best interests to consult an auto accident attorney in Allen County IN. Richard Thonert has been fighting to defend his client’s rights for 35 years. Visit Thonert.net to contact the office and request a consultation to discuss your legal options.