Five Myths Surrounding Insurance Companies and What You Need to Know
There is a lot of misleading, harmful or just plain wrong information when it comes to personal injury cases and insurance companies. The following five videos will debunk those myths, and give you the help and information you need to make the right choices.
Hi I’m Steve Schwartzapfel let me share with you some of the secrets insurance companies would rather that you not know. There are a number of myths perpetuated over the years and if you know about them you are in a better position to protect you and your family. One of the myths is that the insurance companies there to help you and your family. The truth is that the insurance company is there for one purpose and one purpose only and that is to make profit for their shareholders. They don’t care about you. What they care about is keeping every penny they can and not pay out in claims. They will do everything within their power to stall delay deny and disclaim. So before you even think about speaking to an insurance company or an adjuster pick up a phone and call an attorney.
Another myth is that when you are in an accident and the insurance company calls that you are required to speak to them. The truth is that you have no obligation to speak to them. Many of you have heard this statement that anything you say can and will be used against you. The truth is that anything that you say will be misinterpreted, misconstrued, and then used against you. So, please do not give any statements to the insurance companies. There are often a 24 hour rule that insurance companies work under and that is that they try to get a statement from you within the first 24 hours before the full extent of your injuries are known. Certain injuries that involve your neck your back your shoulder or your knee can take days weeks or months to fully manifest themselves. So, under no circumstance are you to give a statement because that statement is to limit your claim. They will go ahead and argue you never mentioned that. We spoke to you and you never mentioned that that your knee or shoulder bothered you. The insurance companies know full well that these injuries take time to develop but yet they want a statement immediately and that again is for purposes of denying disclaiming and not paying you the money you are due.
Another myth is that since the accident wasn’t your fault that the insurance company will voluntarily go ahead and pay you what is a fair market value for your injuries or your car. The truth is that the insurance company is under no obligation to pay any money without litigation. They know that the most that they’ll ever have to pay you years down the road will be the same amount of money they would have to pay you today. So what they seek to do is to obtain as much information as possible from you, tell you that you have to give a recorded statement and later use that against you or offer you pennies on a dollar to settle a claim. Don’t be fooled. Do not give a statement. Do not settle. Do not sign anything until you speak to a lawyer.
Another myth is that the insurance company will tell you that they will not offer you any money or pay you any money if you hire a lawyer. They in effect will threaten you that if you speak to a lawyer they will not pay you or settle your claim. The truth is that the insurance companies own research shows that people that are injured are represented by lawyers on average receive three and half time more money even after payment of lawyers’ fees that those people that are not represented by lawyers. That’s why they want to contact you quickly fast and settle your case for as little as possible as soon as possible. Again, do not speak to an insurance company adjuster. Do not sign any papers until you speak to a lawyer.
Another myth is that people believe that if they go to court and simply tell a judge and jury their story they will be fairly compensated. The truth is that jurors are jealous, skeptical and cynical. They believe that the person suing often exaggerates and lies. They become desensitized to someone else’s pain and suffering. They are barraged on a daily basis with pictures and images of violence, blood and gore on both TV, in the movies and video games. These days it’s more important than ever that you have a highly qualified well-credentialed lawyer that can explain the significant and substantial pain and suffering that you and your family have been through in order to be compensated fully and fairly for all that you have been through.