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Nguyen Lawyers, ALC
A Boutique Litigation Firm Focusing On Complex Litigation Involving Personal Injury

How insurance companies are designed to prosper at your expense

Insurance agencies are like any other company built on profits. The main objective is to increase revenue and reduce money leaks. How these profits are grown and retained is where you as a consumer should beware.

While you need auto insurance as part of your legal compliance when owning and driving a vehicle, you don’t need to be fooled and short-changed after an accident. Unfortunately, this happens more often than not. Most insurance companies are inclined to do what is in their best interest as a company, not what is fair to you-- the customer.

How does this happen?

The pay structure for most insurance agents creates incentives at your expense. Most companies get a commission for each sale. The higher your premium, the higher the sales commission usually is. Annual bonuses are usually rewarded to agents for opening new policies and to those with the fewest claim payouts.

Why car accident victims need legal defense

These types of sales incentives make it harder for you to get a fair outcome when dealing with an insurance company after an accident. Legal resources exists to defend you against agencies that try to pressure you into agreeing to a small amount or who deny your claim altogether.

When you find yourself grappling with the aftermath of a car accident, the last thing you want is to be the victim of an unfair settlement amount. Your life post-accident may include rehabilitation, body shop repairs, loss of time at work and more. That is why it is important to have a little peace of mind knowing your insurance claim is truly in good hands (legally speaking).

Insurance company: they are a for profit company, they max their profit at the expense of people. Any way to minimize someone’s harm, injury or suffering that’s what they have to do to be responsive to the sales, bottom line. If insurance co. did what they are supposed to we would have no need for lawyers.

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