How Do I Know My Insurance Company Is Offering Me Enough For My Claim?
Posted February 2, 2015Insurance is supposed to be something that protects you when you are hurt or when your property is damaged. The commercials and insurance agents promise you that. All the marketing is convincing enough that millions of people purchase all kinds of insurance policies from health, to car, to home, to life to expensive electronics. How do you respond, though, when you encounter and adverse situation and you expect your insurance to cover your claim but it doesn’t? Or, what if your insurance company agrees to pay for your claim, but the settlement doesn’t seem like a fair amount?
How to Know if the Settlement is Right
The first element of understanding your settlement is keeping track of your damages. These can include property, physical and emotional damage. It’s important to know and to keep track of the following:
- Initial medical bills
- Ongoing medical bills
- Increased medical insurance costs
- Vehicle damage estimates or repairs
- Lost wages
- Pain and suffering
- Legal costs
How to Calculate Damages
Keeping track of receipts and what you’ve spent is a start to calculating your overall damages. Some people find an Auto Accident Settlement Calculator helpful in estimating damages. A qualified and experienced auto accident or insurance claims attorney can offer invaluable assistance in making a more exact calculation for you, especially when it comes to putting a price on your pain and suffering.
Read between the lines
While you are assessing whether or not the insurance settlement is adequate to cover your damages, pay close attention to other benefits and risks within in the offer. Do the terms of the settlement prevent you from pursuing future lawsuits? If you’re certain about the amount of your damages, this might be okay, but if you have any suspicion that you may encounter other accident-related in the future, it might be wise to ask for that clause to be removed from the settlement.
Seek professional counsel
The insurance company may present themselves as experts in the insurance claim field and they may be, but they aren’t necessarily on your side. You want an expert who has your best interests in mind, not the insurance company’s bottom line. Contact a qualified and experienced attorney who will be the expert that you need. Call (405) 272-0303 to speak to an Oklahoma Insurance Bad Faith Attorney today.