Will Your NJ Insurance Company Have Your Back Following an Accident?

As if dealing with the aftermath of a car accident wasn’t enough, having to deal with an insurance company acting in bad faith can be exhausting.

Insurance companies always spend money on advertising that touts their trustworthiness and commitment to their customers.

Sadly, when the time comes to cover the costs of a car accident, consumers discover that the insurance company they trusted has acted in bad faith and doesn’t follow through on their promises, leaving the consumer holding the bag.

Following a New Jersey car accident, it is not uncommon for an insurance adjuster to downplay the cost of an insurance claim or deny the claim completely, even when they know that your claim is valid and covered by your insurance policy.

A New Jersey Bad Faith Insurance Lawyer Can Keep Your Insurance Company Honest

If your New Jersey insurance company denies your rightful accident claim, a bad faith insurance lawyer can help protect your rights as a consumer and help you obtain the compensation owed to you.

Insurance companies and their adjusters are obligated, by law, to act in good faith. Still, that does not stop them from trying to minimize an accident claim or deny a claim altogether.

At the end of the day, New Jersey car insurance companies are most concerned with their profit and bottom line, so they use deliberate tactics to line their pockets by taking money away from those they are entrusted to protect. Unfortunately, this problem is widespread throughout the insurance industry.

When insurance companies enter into a contract with a customer, offering services that they later deny, that constitutes acting in “bad faith.” When New Jersey car accident insurance companies act in bad faith, they may be held liable for money you are owed, plus punitive damages.

Common Bad Faith Insurance Tactics

There are several tactics that an insurance company may employ to reduce or outright deny the compensation you deserve following an accident.

• Insurance Claim Delays: A New Jersey car accident insurance company may slow processing or resolving your claim while working to reduce it or flat out deny it, preventing you from getting the funds needed to get your life in order following an accident.

• Incomplete Investigations: It is not uncommon for an insurance company to end its investigation early if it is to its benefit. Thankfully, a claim can be filed if there is evidence of an incomplete investigation.

• Threats: Insurance companies have been known to threaten their customers with legal action if they do not accept the company’s lowball offer or even for filing an insurance claim in the first place.

• Lowballing: Thankfully, there are laws in place that require insurance companies to offer fair settlements. However, that doesn’t always stop insurance companies from trying to take advantage of a customer’s lack of experience to maximize profits through lowball settlement offers.

These are just some tactics that insurance companies will use to prevent New Jersey drivers from obtaining the compensation they deserve.

It’s a sad reality that many drivers across the country pay for a product they believe will protect them in the case of an accident, only to find that they have been preyed upon with lies and deceit.

At Richard J. Hollawell and Associates, our expert team has insider knowledge of the insurance industry and the bad faith tactics these companies use. Based on our experience, we’ve compiled a list of the ten worst New Jersey car insurance companies.

Responding to an Insurance Company’s Lowball Settlement Offer

If you receive a settlement offer from an insurance company, whether by phone or email, do not accept it right away. You must take the time to review the offer, compare it to your records, and determine if it is sufficient to cover all costs. Only then should you respond to the offer.

New Jersey drivers have a legal right to reject any insurance company’s settlement offer and respond with a counter offer.

Should you choose not to settle, it is best to respond, in writing, using a formal business letter, which should include the following:

• A statement of why the offer is unacceptable.
• A statement that refutes any false or incorrect statements made by the insurance company, along with proof of those errors through your personal records, receipts, or other evidence.
• A counteroffer along with a statement of why the counteroffer is appropriate.

That said, negotiating with a car insurance company on your own is never a good idea.

A New Jersey car accident injury lawyer can help you respond to a lowball offer from an insurance company. In some cases, just having a response letter sent from an attorney can alter the way your insurance company handles your claim. If necessary, particularly if negotiations stall, that attorney can help you proceed with a lawsuit.

A New Jersey Insurance Bad Faith Lawyer Can Help

If you suspect that you or someone you love is being taken advantage of by an insurance company, contact an experienced New Jersey car insurance lawyer immediately.

It is no secret that insurance companies will do everything in their power to limit your claim. They have a team of attorneys on their side to protect their own interests. Shouldn’t you?

At Richard J. Hollawell and Associates, we know how to hold car insurance companies accountable while getting you the compensation that you deserve.

Please fill out our contact form or call a member of our team at 1-800-681-3550 for a free consultation.