When a person spends years paying into an insurance policy to protect against loss, having to fight for an insurance claim can be frustrating. The plain and simple fact of the matter is that insurance companies are businesses just like every other business, they are looking to make a profit and minimize their own losses. Many times, this means paying as little as possible to policy holders.
When a policy holder feels that they are not being fairly compensated for a loss, fighting the insurance company can seem like an uphill battle. This is where the advice and direction of a trained attorney can come in handy. Attorneys can not only negotiate with the insurance companies for a higher pay out, but they can also initiate legal action against a company for not fairly paying their client if negotiations fail. Attorneys experienced in insurance defense cases have more knowledge about the value of insurance policies and claims. Insurance companies know that they can convince private citizens that the amount of their insurance pay out is a good deal, but numbers have a way of changing when presented to an attorney who deals with claims and pay outs on a regular basis. The attorney will know right off the bat if an amount is too low based on their experience with similar cases.
Another benefit to hiring an attorney to handle insurance defense cases is that a person who has suffered a loss worthy of an insurance pay out may not be in the best emotional condition to negotiate with insurance companies. Many victims of loss have a “get it over with” mentality which can cost them thousands, and sometimes millions, of dollars. After a significant loss many people would rather take what they can get from the insurance company and split their losses so that they can move on with their lives. This is especially true of individuals who have lost loved ones, homes, and businesses. Dealing with the insurance company is seen as an obstacle in the way of moving on, and insurance companies are more than willing to take advantage of the sensitive emotional state of their clients in order to save as many dollars as possible. While the “get it over with” attitude can be understood, it makes little sense in the grand scheme of things. After a loss, people need money for various reasons. If this weren’t the case, then there would be no need for insurance companies, and since the policy holder has subscribed to the services of the insurance company, it only makes sense that they would want to receive the service they paid for.
Hiring an insurance defense attorney to increase the amount of an insurance pay out is not unethical by any means. An attorney will only ensure that their client is treated by their insurance company as fairly and with as much respect as possible. Contact a local insurance defense attorney if it is suspected an insurance company is holding out on the amount they want to pay their policy holder.