Facing any kind of medical problem can be an incredibly difficult and taxing experience. Our medical system is expensive and so it can be a blessing to have health care insurance to fall back on when things start to get expensive.
But insurance companies want to save money whenever possible and so it is in their best interest to offer you the lowest possible settlement they could to your claims. It can be incredibly disappointing to get a lowball offer from your insurance company, though they can be sneaky and make it seem like they’re offering you a lot when they’re really offering nothing. Before you can respond to a lowball offer, it’s important to recognize that you’ve been made one.
How Can I Tell My Insurance Company is Lowballing Me?
Insurance companies lose money whenever they pay out a claim that you make so as a business it is in their best interest to keep their offer low. However, they are not required to tell you that the offer they’ve made is low. It’s up to you to figure that out and choose how to respond. If they’re lucky, you won’t realize it’s low and you’ll accept it gratefully but none-the-wiser.
Here are some major warning signs that your insurance company is lowballing you that you should be on the lookout for:
- The Settlement Comes Quickly: It takes time to calculate a settlement based on the facts of the situation. If a settlement comes too quickly then it may be a lowball offer they’ve given you in the hopes that you accept it and save them the work.
- You Feel Pressured Into Accepting: It’s normal to contact your attorney after receiving an offer. If they try to dissuade you from taking your time to consider the offer properly, then they may be trying to pressure you into a lowball offer.
- They Ignore Evidence: Ignoring evidence is a clear sign that they are trying to offer you less than you deserve. It’s also a sign that they know you deserve more, too.
- They Stop Communicating: If your insurance company suddenly becomes hard to reach after their offer then that’s a sign that they’re hoping you’ll feel trapped into accepting the offer.
- They Blame You: This is more common in accident settlements where if they show you were at blame then they do not have to pay as much.
- They Won’t Explain Their Numbers: If your company will not explain their math to you then you simply should not trust it. It’s only normal that you should want to see how the numbers were arrived at.
- They Question Your Medical Needs: In this case they argue that the medical work you need is not necessary and that you could get along fine by spending less. As you know, you often are not the one in charge of your medical needs and so you can’t really just change them to be less expensive for your insurance company.
How Should I Respond to a Lowball Offer?
Once you get your lowball offer, don’t respond immediately. It’s better to first speak to an attorney about the offer and what your options to counter it are. If you don’t yet have an attorney then don’t worry about it, though you might find it makes everything easier.
To reject your offer, you will need to draft a letter that rejects the settlement and that provides a counter offer. One thing that can be useful is to not just focus on the money involved in your settlement but to highlight the pain and suffering that you were put through because of your diagnosis. This helps to show that you are more than just numbers on a page, you are a human being who is suffering and looking for help from your insurance company.
You can use this letter to show why the previous offer was simply just not enough. Rather than ignoring the arguments your insurance company made for the low offer, it is better to instead debate those points directly. With your argument you should include the new number you are willing to settle for.
Should I Worry About Taking My Insurance Company on in a Trial?
You shouldn’t worry about taking your insurance company on in a trial. In fact, you should prepare yourself for that ahead of time. If you are not willing to take your settlement to court then you’ll basically be resigning yourself to accept the lowball offer.
Many insurance companies know that insurance disputes like these won’t end up in the courts, though there is the possibility that it does. They know that people often are not willing to spend the money to go to court because they might lose, even if their case is good. You can show that you’re willing to take this to court by hiring an attorney with a history of winning trials like these. Doing so will cause the insurance company to take you a little more seriously and they may even decide to pay your claim rather than front the cost of the litigation.
Where Can I Get Help Challenging My Lowball Insurance Offer?
Here at Barry Deacon Law, we make out business to help out people like you. It is not fair that you should have to face a medical crisis only to be met with a lowball offer from your insurance company. You should be healing and moving on with your life.
That’s why we’re always winning to fight for you. Give us a call at (512) 265-5291 to see how we can help you counter that lowball offer your insurance company gave you. It’s important to show your insurance company that you are not afraid of them and that you aren’t going to back down when offered a settlement that is far too low. Show them that you mean business by hiring the best and giving them something to be worried about.