Insurance companies don’t stay in business by handing out money for
every accident claim that comes their way. In fact, these companies will
go through great lengths to maximize their profits, even if their actions
are at the expense of the accident victim. In this blog, we explain what
insurance companies don’t want to tell you after you’ve been in a
We Want to Pay as Little as Possible on Your Claim
Insurance adjusters get paid to save their company as much money as they
can. If a truck driver is responsible for your accident, their insurance
company will want to limit the payout on your claim. Usually, the adjuster
will try to get you to accept a settlement for a low sum early on.
We Save Money When Your Vehicle is Declared a Total Loss
Some people assume that having your car declared a total loss is good because
you can get a new one. However, claims for totaled vehicles often recover
less than the vehicle is worth and less than what it would cost to purchase
a new one. Totaled vehicles are favorable for insurance companies because
it might cost less to total your car than to complete all of the necessary repairs.
Your Car Might Be Worth Less After Repairs
Even when a vehicle is fully repaired, it losses value because it was involved
in an accident. Furthermore, insurance companies don’t use top of
the line parts for the repairs. Instead, insurers often opt for generic
or salvaged parts. This reduces the value of your vehicle even more. You
should pay close attention to what kind of parts the insurance company
will pay for.
Have you been in a truck accident? Are you having difficulty with your
accident claim? Contact our Kingston team of truck accident attorneys
to schedule your free case evaluation today.