Why Your Insurance Company Matters
At BRE Law, we don’t sell insurance, but we do see first hand how much your automobile insurance company matters. Not all insurance companies are the same and sometimes saving a little money on a discount auto policy can cost you a lot in the long run.
So, why does your insurance company matter? Here are the top three pitfalls that can result from buying insurance from the wrong company:
1) You are more likely to get sued. Even the best driver can have a bad day and make a mistake. If you cause an accident and you have an insurance company that doesn’t make fair offers on claims, the injured person may have no choice but to sue you. Being a defendant in a lawsuit is unpleasant, time consuming, and puts you at risk of a potential verdict in excess of your coverage, possibly putting your financial future at risk, particularly if you don’t have enough coverage.
2) Your passenger may be the injured person. You may have a family member, friend, or colleague who is making a claim against your policy. Your trusting a terrible insurance company will lead to your loved ones being treated unfairly by your insurance company and their claims being denied or met with an insultingly low offer. If the medical bills are very high or the injury is very severe, and your insurance company wont treat them fairly, they may be left with no choice to file a lawsuit, which can create a rift in families and friendships.
3) If you are injured by an uninsured or under-insured driver, and you have uninsured / under-insured coverage, you will be at the mercy of your insurance carrier to compensate you for your injuries, wage loss, and medical bills. If you insure with a company that doesn’t pay claims fairly, they won’t pay your claim fairly either.
Perhaps the biggest problem in all of this is that consumers have a hard time telling insurance companies apart. With huge advertising spends, it is hard to tell if you are really “in good hands” or if your insurance company will be there for you “like a good neighbor.” So, how do you know if your insurance company will take good care of you? Do your homework. Ask your coworkers, families, and friends. Or, better yet, talk to a personal injury lawyer. We can tell you about how the claims process works and which companies, in our experience, are a good bet from an injury perspective.
Injured and need help? Call or email today for a free consultation: (309) 807-5674 or firstname.lastname@example.org.