There are few things you should be aware of when it comes to insurance companies.
Unfortunately, in our society, there is a need for insurance. From car insurance to home insurance, the need for us to make sure we are protected financially exists and insurance companies thrive on this need.
If your home burns down, you want it rebuilt so you can continue to have lodging. If your car gets smashed up, you want it repaired so you can get to work and keep making an income. Its pretty simple, if you didn’t have insurance, those costly expenses would have to pay paid out of your own pocket. Insurance companies are there to pay for those insurance problems that arise, in every city in North America.
Unfortunately, an insurance company can become too powerful for its own good and start to treat its membership like a dictatorship. They make the rules and those rules can be so hard to follow that insurance claims are nearly impossible to execute within the strict confines of the respective insurance policy. It is almost a certainty that you, yourself know someone who had been denied an insurance claim.
Insurance brokers can usually be a big help when it comes to dealing with these large insurance companies. You see, they are an intricate part of the insurance process and without the brokers; the insurance companies would loose a significant part of their business.
One of the problems in fighting insurance companies comes when a claim needs to be disputed and the need for a lawyer arises. What insurance companies typically do is put several law firms on retainer and secures the market so individuals filing lawsuits against them are left to use duds as legal representatives, no offence to anyone working for a firm not employed by insurance companies.
This practice ensures that when claims are filed in a particular city against insurance companies, they will be easily dealt with, at minimal cost.
Another tactic insurance company lawyers use is to drag out lawsuits until the people who initiated them give up. Think about it, these companies have much deeper pockets then you and will outlast you, financially when it comes to the court process. The odds of winning are next to none.
What can you do to protect yourself from the might of insurance companies?
Well, the best move you can do is educate yourself and make sure you know what your getting into. Search online and find out if the insurance companies you plan to deal with have a history of not paying insurance claims.
Lastly, buy you insurance through a good broker who cares about your needs and who has a reputation as being a go to guy. He should only deal with insurance companies that will be reasonable. Take care, ask questions and don’t forget to check out our article on tips to cheap car insurance!