New York is one of the few states with no-fault insurance laws. This means that if you are involved in a motor accident, you are obliged to first claim from your own insurance company for any losses suffered from the car accident. Once you have exhausted your own insurance limits, you can claim from the other vehicle’s insurance company.
When you buy a car in New York, you must take out an insurance policy for a specific minimum amount. You then pay premiums monthly towards this policy. In turn, you are provided the legal cover required for a car owner/driver.
In the event of an accident, you will claim from your insurance policy. A word of caution here – just because you are claiming from your “own” insurance company, you should not be fooled into believing that they are working with your best interests at heart.
In fact, the opposite is true. Remember that an insurance company is a business seeking at all times to maximize profits. Insurance companies will do their utmost to minimize any payouts they make as these payouts affect their bottom line. Expect them to try to pay you the least amount possible, especially if you are not represented by an experienced New York lawyer.
Diamond Injury Law located in the Bronx is a reputable New York personal injury law firm specializing in car accidents. We recommend checking this firm out if you’re in need of a car accident lawyer at this time.
The Lawsuit Information Center states on its website that: “A recent Jury Verdict Research (JVR) study found that the average verdict in a New York motor vehicle accident case is $837,020.”
New York is riddled with car accidents due to the density of vehicles in this bustling city.
Let’s take a look at how you should handle the insurance companies.
Tips on handling your own insurance company
The first insurance company you will deal with is your own. Although you have been paying premiums to them and are a customer, do not believe they will act in your best interests.
Insurance companies employ a host of tactics to minimize payouts. If you expect to receive a fair settlement, brief a lawyer to act on your behalf. Try to avoid any discussions with insurance company representatives, no matter how innocent these may appear to be.
It is far better to palm all queries off to your lawyer, who is well versed in the intricacies and will be able to act in your best interests.
The faster you appoint your own lawyer, the better your chances of success and of maximizing your claim.
Appointing a competent lawyer sends a solid signal to the insurance company that you will not be an easy push-over, and they are far more likely to make a reasonable offer, knowing that they are being “eagle-eyed” by your lawyer.
Tips on handling the other party’s insurance company
It is essential to appoint a lawyer when dealing with your own insurance company. It is even more crucial to have your own attorney when dealing with the other party’s insurance company.
Once you have appointed your lawyer, they will deal with all insurance communications on your behalf, protecting your interests.
Do not communicate with the insurance company and simply defer all queries to your lawyer and stay out of it.
Your lawyer will do the necessary.
Remember that lawyers can work on a contingency basis in these cases. So your first consultation would be free. After that, the law firm will absorb the costs, which will be deducted from any claims paid out on your behalf.
Not only will your lawyers handle your insurance communications, but they will also take care of all other aspects of the claim.
Having a competent attorney in your corner is worth every penny. Going it on your own usually is disastrous.