In current years, some Auto Insurance Companies have decided it’s more profitable for their investors to pay as little as possible out on insured claims. You see this by insurer first offers are an insult in most cases. In my opinion, this is a barameter to check the insured desperation level. Many insurance carriers believe in holding out until close to end of three year statue of limitation, which is typically the amount of time given to file a lawsuit against them. By this time most working class people are broke, bills are past due, and overwhelm with problems. Yes, for insurer, this is the prime way to breakdown people who were already hurting. Most of these companies use a computerized model to estimate these low ball settlement values. For example, if you have a claim that is worth $10,000, do not be surprised by a low ball offer is $1,000. And why would someone take such an offer? Perhaps they are about to be thrown out of their residence or perhaps there is something desperately needed for survival. If out of desperation they take this offer, who profits by 90%? Yes, the insurance company. Not only are they able to keep premiums, but they are also able to keep the money that should have gone to the injured person.
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