Like most other types of businesses, insurance companies are in the money making business. To remain successful, companies have to make more money than they spend and net a profit. An insurance company’s expenses include payroll, operating expenses, and insurance claims. The only money that they receive is the income from active insurance policies, and the only true variable expense is the insurance claims.
Saving Money
In order to limit the amount of money the insurance company spends, they have to minimize their expenses. One method of lowering the amount of money an insurance agency spends is to pay out the least amount as possible on insurance claims. This means that you should expect your auto insurance company, or the other driver’s insurance company, to attempt to pay you the least amount of money for your claim. The first offer will rarely be your best offer.
What You Can Do
Gather your own estimates on damages to your vehicle. You can stop by a body shop or two and get written quotes from them to find out what you would need to pay out to get your car fixed. If you have injuries and medical expenses, the payout will be more difficult to assess. Losses stemming from any time off of work could also make evaluating your damages tougher. In many cases, individuals who file insurance claims are too quick to grab the first offer they receive from the insurance company, believing that it is the best offer they will get. Be prepared to negotiate a figure that you can be happy with.
Help With Evaluating Your Claim
If there are only damages to your vehicle, filing a claim with an insurance agency is not extremely difficult. However, an experienced attorney can offer help with evaluating the financial worth of your claim if you have been injured in a car accident. In addition, your attorney will take over the negotiations with the insurance company and aim to collect the amount of compensation you deserve.
Contact A Legal Representative
If you have been in a car accident and you want to ensure that you receive the amount of compensation you deserve for your damages and injuries, you should contact an Oklahoma auto accident attorney who understands how to handle insurance companies and maximize claims. Our attorneys are eager to assist you with your case. Contact our firm today by calling 405-232-7980.
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