Watch out for Insurance Adjuster Techniques

New Jersey personal injury attorneys will most likely caution that insurance claims representatives may try many approaches to lower the damages they pay claimants. Be on the lookout for some of the tactics outlined below.

Tax-free money?

General damages paid for insurance claims are not taxed. Claims adjusters may use this fact to say that their payout should be lower, since you, the claimant, will not owe tax on it. This is not a relevant point since claims are not the same as taxable wages. The insurer should not be allowed to compare apples and oranges in an effort to reduce the value of your claim.

Don’t ask, don’t get

Insurers have the obligation to disclose their coverage and what claimants are entitled to, however, many do not. Instead, the claimants may have to guess what their coverage is and if they don’t request all policy entitlements, the company may not come forward. Most insurers follow industry laws, regulations and practices. But if claims representatives are not aware of their obligations, they may not always act in good faith as they should. Don’t let them leave you guessing about what is covered for your loss. Check your policy carefully and work with your attorney to find answers.

Structured settlements

Structured settlements are paid out over time instead of all at once in a lump sum. These payment plans may be great for the insurer, who can hold your money for investment. But a structured settlement may not be in your best interest, so beware and talk to a New Jersey personal injury attorney to protect your rights.

The car’s new value

After a crash, even if the vehicle is repaired, its value is lowered. If you have an expensive car, this reduction may be significant and you will be eating the loss if it is not accounted for in the claims process.

Lawyer leverage

Claims representatives may sense that a claimant does not want to work with attorneys. If that is the case, their job becomes easier: they can offer a low settlement amount knowing that you won’t seek representation for your claim or case.

Don’t let that unrepresented, unprotected and unaware claimant be you. Work with an experienced New Jersey personal injury attorney by calling the Clark Law Firm, PC at 877-841-8855.