What Do Insurance Companies Do After Receiving a Personal Injury Claim?
Well over 200,000 car accidents are reported in New Jersey almost every year. Recently, the Department of Law and Public Safety Office of the Attorney General reported that 654 fatal crashes resulted in 691 deaths.
Fall accidents happen every day. While people in all age groups can be hurt in a fall accident, the elderly tend to be the most vulnerable group. In fact, just a couple of years ago, there were over 330,000 individuals aged 65 and over who had a fall accident in New Jersey.
Individuals who are hurt in car accidents, slip and fall events, or other injury accidents may be able to recover financial compensation for losses they sustain. The details of an injury accident matter and will determine who is able to recover compensation and how much they can obtain.
Usually, when a personal injury event happens, the injured person files a claim against the liable party whose actions caused the injury accident. While settlements can be agreed to between private parties, injury claims are often filed with insurance companies.
The Insurance Company’s Role When a Personal Injury Claim is Filed
There are various forms of insurance that can be purchased, and while some are discretionary based on one’s perceived risks in life, other insurance is mandatory. For instance, in New Jersey, as is true in almost every state, drivers are required to have auto insurance if they want to drive an automobile. Since hundreds of thousands of car accidents take place every year, car accident injury and wrongful death claims are filed with insurance companies often.
However, insurance companies are not only involved in car accident claims. A claim against an insurance company can result from any situation where negligence causes damages.
Since claims are usually handled by insurance companies, it can be helpful to understand the role of the insurance company after a claim is filed.
It is the insurance company’s job to review and investigate submitted claims and resolve or close them. While the terms of the policy should be followed, an insurance adjuster will also primarily work to find a way to close claims in the most cost-effective manner that minimizes the insurance company’s financial losses.
The insurance company will take the following steps after a claim is filed:
- Investigate the accident and gather information to determine fault.
- Evaluate all of the damages and calculate their costs.
- If the claim can’t be denied, find a settlement that is “fair.”
What is “fair” to an insurance adjuster is often not really so and often insufficient for the totality of a claimant’s costs. This is why it is recommended not to accept the insurance adjuster’s first offer and to have the assistance of an attorney so that fair and full compensation can be secured.
Speak to a New Jersey Personal Injury Attorney Today
Our South Jersey personal injury lawyer at Monaco Law PC can take on the insurance companies on your behalf and help you get what you are entitled to. To speak with an attorney, you are welcome to call (609) 277-3166 for our New Jersey office to discuss your case today.
We are a New Jersey personal injury law firm serving Atlantic County, Burlington County, Cape May County, Camden County, Cumberland County, Gloucester County, Mercer County, Middlesex County, Ocean County, Salem County, and all of South Jersey.
Source:
nj.gov/njsp/info/fatalacc/2024-stats.shtml
