You were injured in an accident and want to claim damages from the insurance company. The case is straightforward and you are sure that they will have to compensate you in full, even without going through an injury lawyer in Los Angeles, California. It comes as quite a shock when the claims adjuster denies the claim point blank and you are left wondering what to do.
Well, insurance companies make it a habit to refuse claims even when they are well aware that it is legitimate and will prove to be admissible in court too. This is because denying and delaying the claim for an indefinite time will only prolong the proceedings much to your frustration. The claims adjuster hopes that you will get fed up and give up the claim altogether or accept a lowly settlement at the least.
There is another more alarming reason for the delay in settling the claim. Insurance companies invest their money in the financial markets and would rather earn profits from the investment than pay it to you as compensation. Therefore, the longer they can hold out on the payment, the more earnings they will accrue. In fact, it is stated that insurance companies earn 8% or more of the claim amounts per year in investment profits by merely engaging in delay!
No wonder the insurance companies often try various tricks to holdup the court proceedings even after the case goes to trial. This is exactly why you should hire an experienced Los Angeles personal injury attorney, like Kahn Roven, LLP . They are well-versed with such tactics and will advise you to stick to your guns even as they try to expedite the settlement as much as possible.
