In California, there are various statutes, case laws, and regulations which mandate how much power an insurance holder and an insurance company have over each other. California follows the Good Faith ruling which mandates that both the insurance holder and company are required to be completely honest with each other and to deal with each other through human concern and consideration.
There are also rules put forward for very specific matters such as deadlines for responding to each other whether through email or phone, requirements for what sort of information each party needs to provide to the other and deadlines for receiving payment or being denied payment.
Generally, insurance companies have 15 calendar days to respond to a claim being made to them in Rancho, Mirage California. An insurance attorney can educate a person on all of their deadlines and can help a person take legal action against the insurance company if they are not following the rules put forth for them by the law.
What do I do if the insurance company offers me a low-ball offer?
According to the California Code of Regulations 2695.9, an insurance company is not allowed to give low-ball offers. They have to provide a person with enough compensation to restore their damages so that they are as good as they were before the accident took place.
If a person feels like they have been cheated and they have been offered a very low amount of compensation which does not cover all their expenses they should definitely refrain from signing the engagement letter being presented to them. Once a person signs the engagement letter it can be very difficult to put in a counteroffer and get the proper amount that the company actually owes them.
Even if a person feels like the insurance company is offering them a fair amount they should always run the numbers with a legal professional first. In most cases, insurance companies will always offer a lower amount then what a person is actually entitled to because that is obviously in their best interest. A legal professional can hear out a person’s situation and make insurance claims based on all of the tangible and intangible losses a person suffered because of the accident.
The best way to ensure a person does not miss out on any damages is to seek the help of a professional and compile a complete list of all of their losses and how much it will cost to have their damages repaired. This is practical for physical losses such as a damaged vehicle or to pay for a medical bill but it can be a lot more difficult for intangible losses such as the pain of missing a significant event such as a graduation because of the accident. In most cases, if an insurance company refuses to compensate a person for their intangible losses, they may be eligible to take matters to court to have an amount decided for them.