1. Insurance is a FOR PROFIT business
Insurance companies receive your premiums on a monthly basis and send you “friendly” reminders if you forget to pay on time. In the event that you do not pay, the insurance company unilaterally terminates your agreement with them. Their goal and business is to pay out less in claims than they receive in premiums. The higher the amount of premiums they receive and the smaller the amount of claims paid out, the greater the profit margin. “Insurance” is a self serving industry where insurance companies directly control their risks and in many aspects, their profit margins.
2.The insurance adjuster works for the insurance company
The insurance adjuster is the person who determines how much and when your claim is paid. The insurance adjuster is not the same family friend that sold you your insurance policy. They work for the insurance company and their primary allegiance is to their employer, not you. Again, the insurance industry is a for profit business.
3. Settlements are permanent and final
A settlement of a personal injury claim is permanent and final. Even if additional symptoms and expenses are incurred, the majority of all settlements require a global release releasing the responsible party and ultimately the insurance company from any future liability or obligations to the settling party. There are certain situations where settlements may be set aside however, they are rare and difficult to accomplish.
4. Insurance companies are not required to be truthful in negotiations.
Many insurance companies will tell injured people that their claim is only worth a fraction of what the true value is. They further represent to the person that their offer will not get any better even if an attorney is involved. These representations are designed to convince the injured person to settle their claim for an amount that is a fraction of what the true value may be. This is considered fair negotiation tactics which many individuals succumb to when attempting to negotiate with the insurance companies by themselves.
5. Insurance companies pay the settlement or verdict, not the individual being sued
When you file a lawsuit or make a claim for injuries suffered in a car accident, the person’s insurance company pays your damages, not the individual. This is the whole reason the law requires insurance before a vehicle can be operated on a public highway. While the individual may be named in the law suit the insurance company is bound by way of the insurance contract to defend and ultimately pay any damages awarded within the contracted for limits of coverage. Insurance is a written contract.
6. Insurance is a written contract
Insurance is a written contract between you and an extremely wealthy and extremely sophisticated corporation. The terms of the contract or insurance agreement that you enter into dictates what is and is not covered by insurance. Everyone should have a copy of their insurance policy along with the terms and conditions thereof and the limits available under the policy.
7. Insurance companies and hospitals work together to lower each others costs
Many insurance companies have now begun contracting with hospitals to pay medical expenses of their insured at amounts lower than what is billed by the hospital.
8. Insurance premiums are NOT increased because frivolous claims result in unjustified verdicts
Frivolous claims do not result in multi-million dollar verdicts despite the insurance industry’s attempts to persuade the public otherwise. An attorney is not permitted to advance a case that is frivolous, and there are pretrial procedures that permit judges to dismiss claims that are without merit. Most importantly, if a case does get to the jury no jury is going to find liability exists or award damages if not warranted. Juries are not stupid. If a jury awards multi-million dollars in damage chances are the offending party was unquestionably wrong, and the injured individual is severely and permanently injured if not dead.
The Spokane, Washington Law Firm of Robert Hahn is one of the leading firms in the area of Personal Injury Law. Our personal Injury clients have the peace of mind in knowing that their case is being handled by an experienced Plaintiffs injury attorney. Our aggressive representation and extensive experience has earned the firm of Robert C. Hahn, III, a stellar reputation for excellence in the representation of injured people. Robert Hahn’s goal is to provide excellent service by a highly experienced lawyer and legal professionals at an affordable fee.
After helping hundreds of injured people ranging from complex litigation to simple settlement of claims in Spokane and surrounding areas, Spokane Attorney Robert Hahn has the background to explain your alternatives and suggest a solution to your injury difficulties.If you are considering hiring a personal injury attorney, make sure that the attorneys you are considering practice in personal injury law because you need a law firm that deals with these issues on a daily basis.
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Our office is located in the Spokane Valley, with easy access off I-90. Our clients know us and our staff by first names — in fact, some clients stop by to visit even after their case is over. We want to get to know you, in order to better serve you, so call us for your first consultation with a personal injury attorney.
Please call us today at our Spokane office at 509.921.9500 or send an email. Your initial consultation in Spokane with a personal injury attorney is free.