When you have a car accident, one of the first things you’ll want to know is whether you’ll be covered for losses and damages. However, insurance companies are not in the business of making it easy for people who want to make claims that result in a significant payout. The following are just some examples of what insurance companies won’t tell you after a car accident.
Car Declared a Total Loss
You may have heard of insurance companies declaring a car a total loss after an accident. Claimants often see this as a positive step, which allows them to get a new car. However, if the insurance company is totaling your car to save money on repairs, resulting in you receiving less than what the vehicle is worth, you may find you are unable to afford a new car.
It is also important to consider how the insurance company puts a value on your car. Using their own formula, an insurance company can arrive at a figure that falls far short of what the vehicle is actually worth. After your car accident, you may discover the payout from the insurance company doesn’t come close to covering the cost of an equivalent vehicle.
The value of your vehicle will decrease as an inherent consequence of being involved in an accident. Certain insurance companies provide policies which allow claimants to make a diminished value claim to account for the loss. You should check your policy, as the insurance company may not proffer this information. Additionally, an insurance company is not likely to pay for high-quality replacement parts, which can further devalue the vehicle.
You may know your policy inside and out, but that doesn’t guarantee that the insurance company will play fair. Insurance disputes can arise when the claimant and insurance company do not agree on one or more aspects of a car accident claim. Something as simple as providing documentation requested by an insurance company can significantly stall a claim or result in an outright denial.
Another type of insurance dispute occurs in what is known as a “bad faith” claim, where it is alleged the insurance company is denying a claim unfairly. This can happen even when the claimant has provided all necessary evidence and documentation to support the claim. In these cases, a personal injury lawyer can help you resolve the dispute with the insurance company when your best efforts to negotiate have failed.
The offices of H. Lehman Franklin, P.C., are staffed by a team with extensive experience in the area of car accident claims, including handling certain types of insurance disputes. We understand the frustration claimants experience when dealing with insurance after a car accident. With H. Lehman Franklin, P.C. on your side, you will have the support you need while you focus on recovery. Call the offices of H. Lehman Franklin, P.C., today, at 912-764-9616, or email firstname.lastname@example.org. We are your trusted car accident experts in Georgia.