How Insurance Companies Deal with Accident-Related Injuries

If you’ve been injured in an accident where the other party was at fault, the insurance payment you receive for compensation of harm and damages should make you financially whole. No one should be left to deal with lingering debt from an accident for which they are not responsible. Additionally, if the accident has left you with long-term damages or disability, you should not have to stress and worry about how you are going to support yourself and your loved ones in the future.

Insurance Companies Are Businesses Concerned about Their Profits

It is not uncommon for injury victims to hear from an insurance company adjuster shortly after an accident that has caused harm, damages, or other economic and non-economic losses. However, insurance adjusters typically offer lowball settlements that are based on past payouts and minimizing their financial responsibility. Most of the time, they won’t take your unique personal financial or nonfinancial losses into consideration. To them, you’re just an inconvenience that affects their profit margin. And they hope you’ll take their offer quicky and go away. 

Indeed, insurance companies are not in business to help you obtain a monetary award for the true extent of your losses. An insurance adjuster’s main focus and obligation are on protecting the company’s bottom line. That means they want to pay you as little as possible for your accident-related injury.

Therefore, you should refrain from giving an insurance company a verbal or recorded statement, signing any type of document, or accepting any cash payout from them until you have discussed your case with an experienced and knowledgeable personal injury attorney. If you don’t have a legal professional review what you are agreeing to or counsel you on what to say to the insurance company, you could be signing away your rights and entitlement to the full compensation you deserve.

Determining How Much an Accident Has Affected You

Identifying how much an accident has truly impacted and will continue to impact you personally and financially, is critical in a personal injury claim. Personal injury attorneys aim to go above and beyond to document your damages thoroughly and craft a solid and strategic case for compensation that may include:

  • Economic damages: Reimbursement for your bills and out-of-pocket payments
  • Medical expenses: Past, present, and any that will be needed in the future
  • Personal property damage: Things like motor vehicle repairs or replacement
  • Lost income: Wages you lost while unable to work, including projected future lost earning potential
  • Noneconomic damages: Payment for intangible losses
  • Physical pain and suffering
  • Emotional pain and suffering
  • Emotional distress
  • Loss of consortium: Occurs when a spouse is disabled or killed

Economic damages are typically paid according to an accounting of past, present, and projected costs related to your injuries and accident. Noneconomic damages are usually determined in a negotiated settlement or by a jury in court. These are based on evidence and testimony about how the accident has affected you and your lifestyle. A dedicated personal injury attorney will also argue against any evidence presented against you that may be seen negatively and strive to refute any false claims made to minimize the amount of compensation you are owed.