Insurance companies often want you to believe that they are on your side. They market themselves as a service or even a caretaker. For instance, many use common idioms like saying that you are “in good hands.” In a lot of ways, sayings like this have parental connotations. They imply that the insurance company is looking after you or looking out for you when things go badly. You can trust them to help you and make things right.

But the reality is that insurance companies are not on your side. Studies have even found that they are actively accusing their own customers of fraud. An insurance company exists to make a profit, and that is always its goal at the end of the day.

Denying claims and reducing payouts

Two ways that insurance companies can make a larger profit involve limiting how much money they have to pay out by rejecting or minimizing payouts for claims. After all, you are paying the same amount in premiums either way. But if you file a claim and they have to pay out, the company loses money. If they can deny that claim entirely, or at least pay you far less than you should actually receive, it’s better for the company’s bottom line.

What does this mean for you?

If you’re dealing with an insurance company, one of the most important things to remember is that you don’t have to make any statements or answer any questions. In fact, it’s usually advisable not to do so without consulting with your legal team first.

If you make statements on your own, the insurance company may try to look for ways to reduce the value of your claim. A claims adjuster could twist the words that you say or ask you leading questions to get you to make statements that don’t really reflect the reality of your situation. The company may have policies set up that allow it to reduce the money that it pays out based on what you’ve said. It’s important to be very careful and cautious when talking to an insurance company so that you truly get what you deserve.

As you navigate this process, take time to look into all of your legal options. This isn’t something you want to rush, so it’s best to plan in advance and be careful with every statement that you make by contacting a Denver area personal injury attorney.