Everyone who drives in the State of Colorado is expected to carry a minimum amount of car insurance to protect themselves and others on the road in case of an accident. Yet, when an accident occurs, is your car insurance company really looking out for you? Are they really upfront and honest with you? Or are there things your insurance company does NOT want you to know? Here are 8 insurance company secrets you should know about:

• Your Insurance Company’s Goal is to Make Money – the main goal of any insurance company is to make money and report profits to their shareholders. They do this by raising premiums whenever possible and by minimizing the amount of money they pay when you make a claim. As such, when you are involved in a car accident, your insurance company will try to pressure you into accepting the lowest possible settlement – which is usually only a fraction of what you may need to truly recover from your injuries.
• Your Insurance Company is NOT on Your Side – they may claim to be your “friend’ or be “on your side” but the reality is the exact opposite. Even though your insurance company represents you – they are looking for any way to decrease your claim. They often do this by twisting things you say to help decrease your own claim. As such, never tell an insurance adjuster about pre-existing medical conditions or about any road conditions during the accident. Avoid speaking to an insurance adjuster without first speaking to an experienced attorney.
• Insurance Companies Undervalue Your Vehicle – your insurance company will always undervalue your vehicle because they do not rely on standard automobile pricing services such as Edmunds, or Kelly Blue Book Value. Instead, they use their own formulas that are skewed in their favor. By offering you less for your vehicle, they save themselves money.
• Your Insurance Company May Raise Your Rate after an Accident – your insurance company may raise your auto insurance even if you are not at fault for an accident. Minor fender benders and even traffic violations will all be used against you to raise your rate to the highest allowed – even if the other driver was at fault.
• Your Insurance Company May Be Overpriced – most insurance companies will claim that they are offering you the best deal, but shopping around for a better rate is always in your best interest. Premium rates vary significantly from one insurance company to the next. Be sure you shop around and compare as many rates as you can.
• Your Insurance Company Can Deny Your Claim for Misrepresentation – any type of incorrect information you have given to your insurance company can be used to deny a claim or drop your coverage after an accident.
• Liability Coverage and Comprehensive Coverage are Not What they Seem – Liability insurance will not cover your loses after an accident – only damages to other vehicles and other drivers. If you purchase comprehensive insurance, you are better covered but not for everything. Comprehensive insurance only covers narrow portions of possible auto problems and will likely not cover all of your costs.
• You Can and SHOULD Talk to an Attorney First – After an accident, your insurance adjuster will likely tell you that you do not need to consult with an attorney. They will try to get you to settle quickly and may even use a “take it or leave it” approach to intimidate you into signing the settlement. Always speak to an attorney before making any statements to the insurance company. Your car accident attorney will be able to help you obtain the maximum compensation after your accident and ensure that you get the money you need to fully recover.

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Contact Our Northern Colorado Car Accident Attorneys

If you or someone you love has been injured in a car accident in Broomfield, Northglenn, Westminster, Thornton, or anywhere in Colorado, it is important to contact our experienced Broomfield car accident attorneys immediately. At Hull & Zimmerman, P.C., our committed personal injury lawyers are dedicated to the belief that everyone deserves justice. Contact us at (303) 423-1770 or (866) 385-3505.

Our personal injury lawyers have extensive experience representing injured accident victims in Broomfield, Arvada, Superior, Lafayette, Louisville, Erie, Brighton, Commerce City, Northglenn, Westminster, Thornton, Longmont, and throughout Colorado.