Motorists in Texas have to carry insurance to comply with the law. When a crash occurs, a claim often follows, typically seeking to obtain compensation for property damage losses and medical expenses.
Both federal and state rules mandate that insurance companies operate in good faith, which means that they uphold the policies they issue to customers and abide by the terms of their contracts, as well as state and federal laws regulating the insurance industry.
Unfortunately, those working for insurance companies may employ tricky tactics to diminish how much they offer someone after a wreck. People need to be on high alert for the two common mistakes below when pursuing a crash-related claim.
Making a recorded statement
Insurance company employees will ask someone to make a recorded statement about what happened during the crash as part of the claims process. They will then try to get people to admit fault or trick them into making contradictory statements so that the company can reduce what they pay. Although sometimes a recorded statement is necessary, the claimant should have the right to bring a lawyer with them when they make it.
Accepting a first settlement
One of the ways insurance companies minimize their costs is by settling large claims as fast as possible. The person who accepts a settlement can’t make a claim for additional compensation, so they need to know how much they lost in order to secure a reasonable amount of compensation.
If people aren’t aware of these common mistakes, they may end up in a situation where they don’t receive full compensation for their crash-related losses. Avoiding common insurance mistakes after a motor vehicle collision can help people assert their rights and maximize their compensation.