Most car accident cases settle out of court, leaving many victims wondering whether they need to retain an attorney to represent them. Some people reason is that if the insurance company is willing to simply write them a check, they actually save money by handling the matter themselves. While this may seem to make sense, the reality is that it always in your best interest to retain an attorney after a car accident, even if the insurance company has made it clear it plans to settle your case.
Insurance Companies Do Not Have Your Best Interests in Mind
Insurance companies have a fairly simple business model – they collect premiums every month and payout less than they take in. This means that they are strongly incentivized to payout as little as possible on each claim they receive – including yours. They are under no legal obligation to pay you the actual value of your claim, and will gladly settle your case for much less than your actual losses. In fact, if they can, they will deny your claim entirely if they can find any way to do it.
Insurance Company Tactics to Get You to Settle for Less
Unreasonably Low Settlement Offers
One of the most common tactics that insurance companies use in an attempt to get victims to settle their cases for less than they are really worth is making unreasonably low settlement offers early in the process. These offers are made hoping that victims will simply accept them and move on and also to make subsequent (yet still low) offers sound better.
Misrepresenting Your Legal Rights
Another way that insurance companies may try and get to settle your case for less than you should is by misrepresenting your legal rights to you. For example, they may tell you that you are not entitled to damages for your non-economic losses under Illinois law when you actually are. Fortunately, when you have retained an experienced attorney, you can rest assured that you understand your rights and that they will be protected.
Pressuring You to Provide a Recorded Statement
Insurance company representatives often tell victims that they need to obtain a recorded statement before they can “process” a claim or write a check. This is not the case, and any effort to obtain a recorded statement is made in hopes that you will say something that can be used to justify reducing your settlement or denying your claim entirely.
Call Malman Law Today to Schedule a Free Case Evaluation with a Chicago Car Accident Lawyer
If you have been injured in a car accident in the Chicago area, you should call Malman Law as soon as you can. We have been helping injured victims obtain the compensation to which they are entitled for more than 25 years and are committed to obtaining the largest possible settlement or award in every case we handle. To schedule a free consultation with a car accident attorney in Chicago, call our office today at (312) 629-0099 or contact us online.