Lowball Offers: What Makes Insurers Think They Can Get Away with It

lowball offers

Insurance should be one of the clearest examples of give and take in the consumer world. You give the insurer money for premiums, and then later take some, all, or even more back later when an issue occurs such as a health problem or death, damages to the home or car, professional liability, or catastrophe. Most policyholders in the US take their insurance very seriously, along with making monthly, quarterly, or yearly payments on time. And as you probably know all too well, many of these premiums can be substantial.

Watch Out for Red Flags

It’s not always easy to pay for insurance, but like most consumers and policyholders, you probably make this a priority in the household budget. And because you have done your part—and perhaps have ‘paid in’ for decades without any claims—it can be extremely frustrating to experience delays from the insurer when dealing with a claim. You may begin to suspect you are on the receiving end of bad faith practices from an insurance company if nothing happens at first. In most cases, insurance claims adjusters are calling and inquiring about the details immediately, especially if there have been injuries or significant damage. If there is little activity on your case and no investigation seems to be pending, those are red flags, along with unreasonable delays.

Don’t Be at the Mercy of the Insurer: Seek Legal Help!

Insurance companies usually do not want to go to court. Litigation often leads to exorbitant amounts of money spent and time wasted in the courtroom, making the potential for a settlement a much more attractive option. This can lead to issues too, however, when the insurer is coming up with an extremely low amount. Along with building frustration, you may now feel insulted! Do they think you are stupid? What is the point of offering something you cannot possibly accept? In the real world, this should be a typical reaction—and especially if you are working with a skilled attorney; however, insurance companies get away with such behavior all the time.

Claimants may accept lowball offers because they feel like they have no other options and have spent so much time dealing with the case that they are worn down. Intimidation tactics may have played a role over time also, as the insurer has asked for excessive documentation, treated you as if you did not have much of a case, or even created false allegations against you.

You should never go it alone against the insurance company—unless you are okay with accepting a low-ball offer or being at their mercy in terms of all the settlement details. Chances are if you have had an accident or damages have occurred at your home or business, the financial aspects are extremely important. Consult with a skilled attorney who can take on all communications with the adjuster, and if bad faith practices are involved, take it to the next level by contacting the attorneys at the Bolender Law Firm.

Call Us for Help

If a dispute over a claim cannot be easily resolved through a call or written communication, our attorneys will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!

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