What You Should Know When Negotiating With Insurance Companies

  1. Insurance companies make money on your premiums and lose money on every claim they pay out. For this reason, they are reluctant to pay out claims.
  2. Insurance companies will wait as long as possible to pay out claims because the money is generating revenue for them until it is paid.
  3. Strict time limitations apply to all claims. If you wait too long to file your claim, a statute of limitations may prevent you from filing.
  4. An insurance company is legally responsible to act in good faith regarding your claim.
  5. An insurance company that tries to eliminate your coverage once you have made a claim is likely violating the law.
  6. Any misleading content in your insurance policy must be interpreted in your favor.
  7. When dealing with an insurance company, the more eyewitness accounts and evidence you can provide the better.
  8. If you are injured by someone without insurance or with less insurance than you, file a claim with your own insurance company for uninsured or underinsured motorist benefits.

For more information, please contact Tichenor & Dziuba LLP to schedule a free consultation.

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