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Ways COVID-19 Is Affecting Auto Accident Insurance Settlements
Every person in the country feels the impact of COVID-19. Whether it's shortages of essential products at the grocery store or the challenges faced when taking care of personal business, we're all anxious to get back to our normal way of doing life. If you've had a recent auto accident, you're likely wondering how COVID-19 might affect your insurance settlement. Read today's post for answers to your questions about the current global pandemic and your claim.
Will COVID 19 Prevent Me from Filing a Claim?
COVID-19 has forced thousands of businesses to change the way they operate, with many closing down entirely. Insurance companies are considered essential businesses. Claims adjusters and other supporting staff are still available to work on claims. In most cases, it's business as usual. That said, some insurance companies may have adjusted their working hours or reduced their staff. It doesn't mean they're not working on claims, but they may take longer to respond to inquiries.
Are Insurance Companies Settling Claims during the Pandemic?
Filing a claim is one thing, but what about receiving your settlement? It's natural to wonder whether a global pandemic puts a halt to the payment of insurance claims. In short, the answer is, yes, insurance companies are still settling claims. That doesn't mean they're not putting even more of a focus on their bottom line. Even when not dealing with the challenges of an international health crisis, an insurance company wants to settle for the least amount they can. Be aware of attempted lowball offers to settle your claim.
Why Would an Insurance Company Make Things Harder Now?
One thing many people filing auto accident claims notice more of right now is more resistance from insurers. They're fighting claim amounts more diligently, especially if the claim goes into litigation. Like many businesses impacted by COVID-19, insurance companies anticipate a decline in profits. They will work harder to mitigate loss, which could mean they offer a lower amount than usual on your claim.
Does the Pandemic Change My Chances of Winning a Settlement?
The health crisis we're all facing poses unprecedented challenges. For the insurance industry, the problem hits where it hurts. A potential loss in profits means the industry gears up to prepare for minimal damage. While the pandemic doesn't mean claimants won't win settlements, it does mean things may get tougher. If you don't fight for your rights, you're at risk for lower offers and quick settlement of your auto accident claim. Without legal representation, you're taking a risk.
What if My Case Goes to Court?
Due to social distancing guidelines, some state courthouses have been closed during the global pandemic. The courts have put limits on what processes can take place. They've also limited which days during the week courts will process cases. The slowdown and schedule limitations experienced by some courts may slow the process for automobile accident claims.