Insurance settlements are an odd dichotomy. On the one hand, you purchase insurance to protect against a major loss. That could be a loss of:
- Life
- Health
- Property
- Functionality or livelihood
This list contains a few general examples. Other calamities and injuries might also warrant collecting on a claim.
On the other hand, insurers can complicate the process of giving the monetary compensation you’ve paid for. While your goal is to maximize the payout, theirs is to minimize it. This goal-oriented tug-of-war is often drawn out for as long as possible in the hopes that the insurance company maintains ownership of the majority of the rope.
Do I Need To Hire A Lawyer For My Insurance Claim?
Given the likelihood of communication and negotiation breakdown as the battle rages on; you may be wondering if it’s a good idea to hire a lawyer. This is a very good question because not all insurance disputes require, or even benefit from, the presence of an attorney.
Whether your property was damaged or a loved one was injured or killed, you need to know your rights. A lawyer can help you interpret your rights under your insurance policy. A lawyer may also have a better chance of getting the insurance company to settle, since they most likely have experience in insurance claim cases.
How Long Will It Take To Settle With The Insurance Company?
It is not abnormal for insurance companies to require an extended settlement period before your payout is issued. They have to review all of the documentation and weigh the details of the claim prior to reaching a determination.
The process usually takes several months. Exercise persistence and polite, competent assertiveness. If this approach gets results, proceed with the settlement process on your own.
Worst-case scenario: a breakdown in communications occurs and negotiations hit a wall. In the pregnant pause that follows, do not become mired in your own emotional responses. Stay proactive and start interviewing lawyers and claims adjusters (if applicable by state).
Make sure to review all of your representative options before choosing one that is best suited to your situation. Adjusters can also be helpful in cases where the value of the claim is called in question.
What Will The Outcome Of My Case Likely Be?
Not all claims end in litigation; mediation, arbitration, and appraisal can also lead to resolutions. This is why securing representation that is familiar with the rights of policyholders and experienced in resolving insurance disputes is so important. Choosing the wrong goal-between can make the process drag on even longer.
Stockard, Johnston, Brown, Netardus & Doyle, P.C. in Amarillo, Texas put the rights and interests of policyholders first. These qualified personal injury attorneys offer knowledgeable counsel and support during a difficult and often stressful settlement.
Representation from this Amarillo law firm protects both your rights and the value attached to the property and policy you’ve paid for; corroboration every struggling insured individual needs. Contact the lawyers at Stockard, Johnston, Brown, Netardus & Doyle, P.C. today to discuss your case today.