Injured in an accident? Avoid these common insurance coverage myths

February 23, 2013

About 150,000 car crashes occur each year in the state of Louisiana and residents of East Baton Rouge Parish have seen their fair share of accidents over the years. Although the numbers of accidents in the parish are on the decline, official statistics report that there were around 15,000 property damage accidents and nearly 5,000 injury crashes in 2011. Those crashes accounted for 50 fatalities and over 7,500 injuries.

Many people rely on their insurance companies to pay for losses incurred from car accidents and other insurable losses. Insurance carriers spend millions of dollars each year in an attempt to make you believe you can rely on them and trust them to take care of you in the event of an accident. Sadly, insurance companies are in the business of making money and will pay their policyholders only what they have to.

Chances are that you or a loved one will be in a motor vehicle accident at some point in your life, if you have not been already. Often it pays to be a bit wary of your insurance company when you need to collect on a claim.

Common insurance myths

Although you are paying a lot of money for auto insurance, you may not be paid what you expect or are entitled to if you are involved in an accident. Consider these insurance myths:
- You are covered: With all the deductions and exclusions written into the fine print of policies, you may not have the coverage you thought you paid for.

- Your insurance company is on your side: An insurance company is a business and is not concerned about making everything better for you. Although your representative may be understanding, a large corporation is just crunching numbers, trying to pay out as little as possible.

- Arbitration is better for you than a lawsuit:You may be denied basic legal rights by limiting yourself to the arbitration process which can be just as costly for you. Additionally, many arbitration awards cannot be appealed.

- Filing a lawsuit will increase your rates:Causing an accident may raise your rates but filing a lawsuit to obtain the full benefits you are due under your policy should not.

- Insurance companies always pay when they are supposed to: Some insurance companies use what are known as "delay, deny and defend" tactics when it comes to paying fully and on time. Bad faith claims against insurance companies are common, unfortunately.

After a car accident, avoid being a victim of your insurance company as well. A Louisiana lawyer can help you obtain compensation to which you are entitled.

If you are injured in an accident due to the negligence of another, or believe you are not receiving fair treatment from your insurance company, consult an experienced personal injury attorney.

Article provided by Murphy Law Firm LLC
Visit us at www.batonrougeinjuryaccidentattorney.com