This is Kentucky Injury Attorney Tate Meagher with the Meagher Injury Lawyers. So, what do insurance companies not want to tell you about your injury claim? In this post, I’m going to go over the five biggest secrets the insurance companies don’t want to tell you about your injury claim.
1. The First Offer Is Almost Never the Best Offer
Insurance companies don’t want you to know that the first offer on your injury claim is almost never the most they are willing to offer. I personally cannot think of one case that was settled for the amount first offered by the insurance company. However, I can think of several cases that have settled for several times the amount of the initial offer.
2. Disclosure of Policy Limits
The second biggest secret is that insurance companies don’t want to disclose the amount of their insured’s policy limits. In Kentucky, they don’t have a duty to disclose the amount of their insured’s policy limits before a lawsuit being filed. After a lawsuit is filed, they must disclose the amounts of those policy limits. Given this, I highly recommend sending a demand for the policy limits prior to filing a lawsuit in almost any case.
3. Denial of Liability Doesn’t Mean a Bad Case
The third biggest secret is that when an insurance company denies liability on your case, it does not necessarily mean you have a bad case. In these types of cases, it is common to have to file a lawsuit after liability has been denied. Personally, I can recall countless injury cases where initial liability was denied by the insurance company, and no money was offered. Months down the road, after working up the case and possibly filing a lawsuit, we settled for very significant value.
4. Suing May Get You a Higher Offer
The fourth secret is that suing the insured may get you a higher offer on your injury case. Sometimes it makes sense to settle your injury case prior to a lawsuit if the insurance company makes a fair offer. However, in cases where the insurer denies liability or makes a low offer, it is typically wise to file a lawsuit. Filing a lawsuit can make the insurance company rethink their budget for the case, as they have to pay defense costs and potentially face a judgment in excess of the policy limits, which could lead to a better offer.
5. You Don’t Have to Give a Recorded Statement
The last and final secret is that you do not have a duty to give the at-fault party’s insurer a recorded statement. Insurance companies almost always ask for a recorded statement, but it is usually not wise to give one. My advice in the vast majority of cases is to not give a recorded statement to the at-fault party’s insurance company. These recorded statements can be used against you later if the case has to be litigated. This applies to dog bite cases, slip and fall cases, and other injury claims.
Conclusion
So, with all that said, remember, if you have been injured in an accident in Kentucky, don’t wait. Call Tate. Feel free to subscribe to my YouTube channel, Call Tate, and watch more of my videos.
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