In the state of Indiana, insurers are required to deal in good faith with their insured customers. Good faith means that the insurance company will not try to take advantage of you, and it is implied in every contract.
Good faith also means that an insurance company must not unreasonably withhold or delay a claim payment.
Unfortunately, not all insurance companies take their duty of good faith seriously.
How Does an Insurance Company Determine Settlements?
Insurance adjusters can arrive at settlement offers using any method they feel is appropriate. Many insurance companies use computer calculators to determine how much they should offer.
In reality, your insurance company – or the other party’s insurance company – can completely deny your claim and force you to file a lawsuit if you want to get paid.
Many insurance companies do not want to deal with lawsuits. Litigation is costly and time consuming, and in many cases, the insurance company will end up paying more if they drag you through the court system than they would if they settled out of court.
However, many people find that it’s helpful to work with a personal injury attorney who knows how to negotiate with insurance adjusters.
Should You Accept or Reject an Offer?
You have the final say in whether you accept or reject a settlement offer. Your attorney can help you make the right decision by providing you with case-specific legal guidance, but in the end, it’s up to you.
Do You Have to Go to Court if You Reject an Offer?
If you choose to reject a settlement offer, you don’t necessarily have to go to court. Your attorney may be able to negotiate with the insurance company on your behalf.
However, your lawyer may advise you to take the insurance company to court – especially if they’re not willing to give you the settlement you deserve.
Working With an Attorney
If you need help, call us at 317-920-6400. You can also contact us online if it’s easier. We’ll help shoulder this burden so you can focus on what’s really important: your recovery.