If someone only went by their TV ads, they would assume that insurance companies exist to take care of their policyholders. After a catastrophe, such as a house fire or serious injury in an accident, people are suddenly dealing with a host of problems; however, the insurance company may become their biggest problem.
The Insurance Company’s Goal
Insurance companies are in business to make money, pure and simple. The goal of the insurance companies is to collect enough from policyholders to pay for claims, employee salaries and other operating expenses, and have enough left over to invest. Investments are crucial. How much they pay out in claims has to be controlled as tightly as possible.
The Adjuster
The adjuster holds a critical role. A successful adjuster, backed by the insurance company’s lawyers, pays out as little as possible on each claim and takes as long as possible to do so. Why? The insurance company doesn’t benefit from paying claims quickly. They may do so with a small claim for a fender-bender, but are unlikely to pay quickly for a major claim.
The Fine Print
At one time, insurance was a product that people only purchased if they chose to. Now, states require drivers to buy auto insurance, mortgage lenders require borrowers to purchase homeowner’s insurance, and the federal government now insists that everyone have health insurance.
One of the consequences of the forced purchase of insurance is that many consumers do not read or understand their policies. Actually, even if they tried to understand the fine print, it is incomprehensible to almost everyone.
The fine print is used to deny and limit claims, with the insurer telling the policyholder their policy doesn’t cover this particular circumstance. When someone files a large claim, they have just suffered a catastrophe. Their home has burned down, they were severely injured in an accident, or are seriously ill and have catastrophic medical expenses and lost wages. This is when an insurance lawyer in Jefferson County, MO is needed to help level the playing field. It’s very difficult for anyone to fight alone against a huge insurance company.
The Wegmann Law Firm fights for the rights of clients against insurance companies every day. When you need an insurance lawyer in Jefferson County, MO, this legal team has the knowledge and resources to help you get what you’re entitled to. Click Here to schedule an appointment and learn about your legal rights.
