Although most insurance companies try to assure us that they are good neighbors and that when we are with them, we are in good hands, the truth is that most insurance companies play dirty. Many pay their insurance adjusters bonuses for making low-ball offers and for delaying settlement. Some are also less than truthful to their own customers. According to recent news, Loya Insurance Company is an example of this.
The Dallas News recently ran an article about Loya Insurance Company, a major Texas auto insurer. It seems that the Texas Department of Insurance fined Loya for unfair and deceptive trade practices. Specifically, Loya was advertising that it would offer insurance for no money down and no fees. But, despite this advertisement, Loya would still insist on the first month’s payment up front. There were also many complaints about Loya delaying settlements and making low-ball offers. In response to Loya’s malfeasance, the Texas Department of Insurance fined Loya $300,000.00.
Loya, of course, is not the only insurance company that tries to deny or low-ball claims. Recently, I had a client who was in an accident with multiple passengers. Everyone went to the emergency room. Everyone but my client tried to settle the case themselves. The insurance company paid their out-of-pocket medical expenses for the emergency room plus $500. In the end, most of them settled for around $700. They tried to settle with my client for $700 as well. My client, however, was still hurting and didn’t think that was fair. He came to us. After he was done with his doctors, we settled the case for about $50,000. The insurance company agreed to settle because they knew that is what the case was really worth. $50,000, not $700.
Please, don’t try to settle your personal injury claim by yourself with companies like Loya. You need the help of an attorney who can see the realistic value of your case. If you have been hurt, call us at 702-333-1111.
Ryan Anderson is a founding partner of the law firm Morris Anderson, one of the leading personal injury firms in Las Vegas, Nevada. He has resolved hundreds of cases and obtained millions of dollars for his clients. Circle Ryan on Google+!