One primary duty of Accident Lawyers is to help injured persons deal with insurance companies that are refusing to provide compensation or are only offering a relatively small settlement. A report by CNN has noted that many of the top insurance companies routinely offer a significantly lower amount of compensation than would be required to pay for the person’s medical bills and lost wages. This can be the case whether the injured person is the policyholder or whether the insurance company represents an at-fault driver or liable business.
This tends to occur with accidents in which the full settlement amount would not be exceptionally large. Insurance companies know that people are inclined to accept the lower amount offered. First, they assume that it’s pointless to hire an attorney over the difference between the settlement as requested and the settlement as offered. Consider an injured person whose medical bills total $20,000 and lost wages total $10,000. They expect to receive $30,000 from the insurance company, but the insurer instead offers half that amount. With a lawyer receiving the standard one-third of a settlement for his or her own fee, it might seem that the person would not come out very far ahead and would have to wait even longer for payment.
However, there are important points to think about. For example, the lawyer may realize that $30,000 actually is too low. An attorney with an organization such as the Krebs Law Firm may determine that $50,000 is more reasonable. Through success in negotiating with the insurer, the client receives better compensation and does not have to wait for a long time to do so. Lawyers nearly always settle injury cases out of court, especially those that are viewed as relatively small cases.
CNN estimates that injured persons as a group lose billions of dollars in compensation due to the efforts of insurers to pay as little as possible. The insurance companies use tactics such as delaying responses to communication and refusing to negotiate with an individual. Once a law firm gets involved, it becomes obvious that the injured person is serious about receiving the deserved and fair amount of compensation.