Josh Gets Results for injured workers
Photo of Attorney Josh Borken

3 Ways Your Insurance Company Will Try to Lower Your Accident Settlement

On Behalf of | Aug 19, 2018 | Workers' Compensation

Worker’s compensation is kind of a wonderful thing, isn’t it? If you get hurt at work and find that you can no longer perform your job for a short time, or even forever, workers’ compensation is there so you aren’t left with nothing. Well, it is a wonderful idea in theory, but those insurance companies aren’t always so caring. After all, workers’ compensation insurance companies are businesses. They are there to make money and not always help you out. They make money by having companies pay them for their insurance, something that is required in Minnesota. So in order to make more money, they want to keep costs low. This means that when you are hurt at work, that same insurance company you may trust may also be trying to reduce the amount of your settlement in order to benefit themselves at your expense.

There are a wide array of different ways an insurance company can undermine your settlement, but there are three major red flags that you need to watch out for if you want to get the settlement you deserve.

Settling a Claim Quickly

You likely want your insurance claim to be settled in a timely manner, but not taking your time with it can be a major detriment. Insurance companies want to settle claims quickly so they can move onto the next incident and close their files. Once you sign the settlement papers, everything is final. You can’t come back later asking for more after you experience buyer’s remorse. You can’t negotiate for more money once the settlement is filed.

Adding to that, if your insurance company is eager settle your claim with lightning speed, it is also because you probably have a very strong case for your injury. You may have a well-documented injury and you may be more entitled to funds than you realize. They may save a lot of money by forgoing the cost of going to a Hearing by settling with you for a lump sum early in your case. Remember, they have to pay their attorneys too. Insurance companies only go to hearings if they think they can win and will have to pay you nothing.

Saying They Are On Your Side

This is a popular move by claims adjusters in all insurance areas. They will sympathize with your situation, telling you how sorry they are for your injury and saying that they are only there to help you. Most people are world-weary enough to know that insurers are not there to help them and that is true. Claims adjusters work on your case because it is there job, but their goal is to try and save as much money as possible for their employer, the insurance company. This means taking advantage of loopholes and acting so kind that it makes it difficult for you to tell them no.

Don’t fall for it.

Claiming You Don’t Need A Lawyer

Let’s be real, no one particularly likes lawyers. Lawyers are like air bags, you never want to use one, but you’re glad they are there in case of an emergency. Insurance companies know all of the little loopholes to get around paying what they owe you. It is their job, just like it is a personal injury lawyer’s job to make sure they don’t give you the run around. Our job is to assure that you get every penny that you are owed from a worker’s compensation claim. Unless you are well-versed in worker’s compensation law, don’t ever let a claims adjuster convince you that you don’t need a lawyer. They consult with attorneys to get advice on how to handle your claim, don’t let them tell you that can’t get the same advice.

If you are in Minnesota and have been hurt at work, contact us today. The Law Office of Joshua Borken has worked tirelessly to get countless injured workers the settlements they need to recover from their accidents.