Getting into an auto accident can be an incredibly devastating experience for the victim and their loved ones. In the moments of stress and uncertainty that follow a car accident, most people will try to rely on their auto insurance company to help them navigate the legal process and obtain the compensation that you deserve. After all, you pay your insurance company to help protect you in the case of a car accident; however, this is not always the best course of action.
Auto insurance companies typically do not have your best interest in mind, despite their slogans and commercials stating that they are here to help you. In fact, insurance companies give their employees strong incentives to minimize and deny car accident claims in order to maximize their profits. As Utah car accident lawyers we feel it is our duty to help car accident victims understand that an insurance company might not have their best interests in mind, and in this article we will be diving into exactly how they do this.
How Insurance Companies Make Their Money
An auto insurance company is able to make its money by charging insurance premiums to their policy holders. These insurance premiums typically end up being higher than the costs of claims and expenses that an individual will claim. The difference between these two amounts is the profit that an insurance company earns.
The majority of an insurance company’s profits does not come from its premiums. Insurance companies take these premiums they receive and invest them into stocks, bonds, and other investments to generate as much additional revenue as possible. Additionally an insurance company uses actuarial science and data analysis to set premiums and assess risks, which helps an insurance company to minimize claims and maximize profits. What this means is that an insurance company has an inherent conflict of interest when it comes to handling their clients’ injury claims. They want to minimize your payout as much as possible in order to maximize their profits.
Why Should I Hire a Lawyer?
Since insurance companies do not have your best interests in mind it is critical to retain a skilled Utah car accident lawyer to help maximize your claim. A personal injury attorney will be able to aid you with the experience and knowledge needed to expertly fight for the compensation that you deserve.
An insurance company will try their hardest to minimize and deny your claim with the hopes of keeping as much of their money as possible. Your Utah car accident lawyer understands an insurance company’s tactics and will be able to use their understanding of the law and the legal process to your advantage and build a strong case on your behalf.
Our Utah car accident lawyers work on a contingency fee basis. This means that our attorneys will only get paid once they win your case. This means you will be able to seek your compensation without fear of racking up large amounts of attorney fees, and you can rest easy knowing that your interests and the attorneys are the same. Our attorneys do not require any payment up front so that you will be able to focus on what is really important, your recovery.
If you or a loved one has been involved in an auto accident in Utah, do not let an insurance company take advantage of you. An auto insurance company will try to take advantage of you, they even have incentives to minimize and deny claims to maximize their profits!
Do not let this happen to you. Call the Utah car accident lawyers at LifeLaw Personal Injury for a free consultation and to retain a skilled attorney that will fight for you. Our attorneys will work tirelessly to ensure that your rights are protected and you get the compensation that you deserve. If you are in Utah and you have been injured, give us a call to schedule your free consultation today!