Tactics By Insurance Companies To Deny Legitimate Claims Increase
Insurance companies have been known to use many different delay tactics when it comes to settling or paying out on an insurance claim following an injury accident in Kansas or Missouri. Insurance companies often wear two faces. The first is the face of the insurance agents. These are the men and women who represent the face of the company. It is their job to sell you your policy and handle questions and concerns about your coverage, etc. The second is the face of the insurance adjusters. Many people feel, and sometimes rightfully so, that the sole job of the insurance adjuster is to minimize and destroy claims. If you have been the victim of an injury accident you know full well that insurance companies employ a host of sophisticated and seemingly unfair tactics aimed at increasing the profit of the insurance company.
It is a shock to no one that the insurance companies are in the business of earning money; however, the list of tactics used to deny claims (and consequently ensure a profit on their end) seems to have increased tenfold in recent years . With the downturn of the American economy over the past year or so, insurance companies are being remarkably pushy with their tactics. According to the American Association for Justice, a report titled “Tricks of the Trade: How Insurance Companies Deny, Delay, Confuse and Refuse”, the insurance industry’s numerous attempts to maximize their profits are becoming a minus for their customers.
Below you will find a description of some of the more aggressive tactics currently being employed by the insurance companies, according to the American Association of Justice’s report.
Denying Claims is becoming the first line of defense for insurance companies trying to maximize profits. Large companies such as Allstate, AIG and State Farm will deny legitimate claims no matter how much evidence supports the customer. They are even going so far as to reward employees for denying claims in which a customer could receive a huge pay out.
Elderly victims sometimes are the most punished victims of the denied claim tactic ~ The most penalized sufferers of the denied claim tactic are our most-mature citizens}. Insurance companies are known for stringing-out payments for senior injury victims, waiting for the victim to pass away, which allows the insurance companies to get out of paying the claim at all.
Another way insurance companies are able to avoid ugly settlements that can bring down their profit margin is by penning confusing and hard to understand policies. Be honest. Have you actually read your entire insurance policy? If you haven’t, now may be a good time to have a go at it ~ have not, now is as good of a time as ever to read it over}. Insurance companies sometimes intentionally word their policy so that it is hard to understand the technicalities of the legalities. They’re also counting on you not reading the fine print, so speak with a Kansas City Personal Injury Lawyer to better understand confusing terms.
Low credit scores for customers is becoming an increasingly easy way for big insurance companies to justify increasing premiums and denying injury claims. Another negative effect of the down economy is that customers who once held respectable credit scores are now seeing that number drop for one reason or another . This is giving insurance companies all the cause they require to drastically raise your premium despite you having done zip to violate the terms of your policy.
One of the most seemingly unjustified ways companies are saving a buck is by abandoning sick customers. At some point in time we’ve all questioned why we need insurance if we are healthy but we all appreciate having loyal insurance when we do fall ill. Insurance companies today are finding loopholes in policies that unfairly or not is allowing them to cancel polices or deny claims when a consumer becomes sick, at a time when they need the support of their insurance company more than ever.
If you or a loved one is being unfairly denied or strung along by aggressive insurance company tactics, you can find answers to your most crucial and pressing questions right on our Kansas City personal injury attorney website. To get started, download our free book, “10 Essential Steps You Must Take To Protect Your Injury Claim, How You Can Escape The Personal Injury Trap, The Ultimate Guide To Accident Cases In Missouri and Kansas.” The book is written by a trusted Kansas City auto accident attorney.
