The day you buy a car is an exciting day. The day you get your first car insurance bill is a less exciting day. However, for many drivers, that proof of insurance provides a sense of comfort and security: in exchange for paying regular insurance premiums, a driver can feel protected in the case of an accident. Unfortunately, this sense of security can be fleeting. When it comes down to it, insurance companies are businesses more invested in protecting profits than in compensating customers.
Many of the leading insurance companies in the United States have seen profits increase significantly in the last few years. These increases generally result from keeping premiums high and pay-outs low. Furthermore, many people do not have a good understanding of insurance company procedures. For instance, many people believe red cars cost more to insure. However, that, and other myths about insurance are simply untrue.
To have a good relationship with your insurance company, do your homework when you have a claim. Whether it’s home or car insurance, you should have a thorough understanding of your policy. For home insurance issues, make sure you have a complete and up-to-date inventory of your belongings. For car insurance, make sure you understand your deductible and how your insurance deals with accidents involving uninsured motorists.
If you feel like your insurance company is not handling your claim correctly, a lawyer, like those at Kryder Law, can help protect your rights. Insurance companies often try to delay, reduce, or deny claims in order to keep their costs down. These tactics work because consumers either don’t understand the process, trust their insurance company completely, or give up in frustration.
Don’t let your insurance company become your enemy. Work with one of Kryder Law’s attorneys to make sure you are compensated for injuries or losses that occurred in an accident.