Why is the insurance company withholding...?
My mom and I were in a sports car accident in May. We weren't at imperfection. We have a lawyer. Today we go in and he says that things are going apposite except for the fact that the insurance company is withholding how much coverage they have...or something. He said that if they do not narrate them by wednesday of next week, we will sue because we can't make demands until we know more or less the coverage. Why would they hold out? Will they hurry and settle with us when we file a suit? MY legal representative said that it won't be two years because we are in a small town unlike Houston or Dallas.
Answers:
From an adjusters prospective: Because the value of your injury claim have nothing to do with the amount of coverage. The efficacy of your injury is based on the injury itself. The only time the amount of coverage comes into play, is if your injury exceeds the coverage constraint. In which case, the adjuster will tell your attorney that once your medical box has been submitted. If that happen, your attorney will contact your insurance company. It's pretty common practice for an adjuster to not tell the coverage cut-off date.
In my experience, all filing a decree suit does is slow the process down. It's much faster to settle a claim with out a law suit. Insurance companies are not afraid of directive suits. They will hire an defense attorney and the discovery process will begin.
**not legal advice- individual an attorney can give legal warning. You should direct future questions to your attorney. He is aware with the specifics of your case. Source(s): Insurance Adjuster 12 years
The other guy's insurance company does NOT own to tell you what the limit is. Actually, how much coverage he have, should have no bearing on how much your DAMAGES or your CLAIM or your lawsuit is for. You want to sue, base on your LOSS, not based on the guy's property coverage.
Normally, they hold out because they don't want you guys to say, oh, he's get a three trillion dollar limit. We WERE going to ask for $25,000, but now we'll ask for $1,000,000 because we might go and get more.
They aren't going to settle unless they think that your DEMAND amount, is less than a court would award. Otherwise, they'll turn to court, and let the court decide the judgement amount.
That small town piece doesn't hold much water. Lawyers drag things out, they don't speed things up. The settlement will be speedy if they think they're getting other. And if they think you're being unreasonable, they'll keep on until either you offer a much lower settlement amount, or it in reality goes to court. The insurance company has NO incentive to speed up the process. And neither does your advocate.
Related Questions:
Answers:
From an adjusters prospective: Because the value of your injury claim have nothing to do with the amount of coverage. The efficacy of your injury is based on the injury itself. The only time the amount of coverage comes into play, is if your injury exceeds the coverage constraint. In which case, the adjuster will tell your attorney that once your medical box has been submitted. If that happen, your attorney will contact your insurance company. It's pretty common practice for an adjuster to not tell the coverage cut-off date.
In my experience, all filing a decree suit does is slow the process down. It's much faster to settle a claim with out a law suit. Insurance companies are not afraid of directive suits. They will hire an defense attorney and the discovery process will begin.
**not legal advice- individual an attorney can give legal warning. You should direct future questions to your attorney. He is aware with the specifics of your case. Source(s): Insurance Adjuster 12 years
The other guy's insurance company does NOT own to tell you what the limit is. Actually, how much coverage he have, should have no bearing on how much your DAMAGES or your CLAIM or your lawsuit is for. You want to sue, base on your LOSS, not based on the guy's property coverage.
Normally, they hold out because they don't want you guys to say, oh, he's get a three trillion dollar limit. We WERE going to ask for $25,000, but now we'll ask for $1,000,000 because we might go and get more.
They aren't going to settle unless they think that your DEMAND amount, is less than a court would award. Otherwise, they'll turn to court, and let the court decide the judgement amount.
That small town piece doesn't hold much water. Lawyers drag things out, they don't speed things up. The settlement will be speedy if they think they're getting other. And if they think you're being unreasonable, they'll keep on until either you offer a much lower settlement amount, or it in reality goes to court. The insurance company has NO incentive to speed up the process. And neither does your advocate.
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