The insurance companies are always looking for their best interests only, and there is no doubt that they are prepared to make a fool of you in the name of their own prosperity!
You must confess, this statement sounds pretty much logical. The insurance companies always seem to be on your side, whatever you need, whenever you need. But actually, what stands behind their smiles is their own financial interest.
If we look into their business logic, the methodology is very simple: the insurance industry makes money by using other people’s money, known as float. The float costs nothing and, in fact, makes money for them. The insurance money gathered from the people are invested in several investment opportunities, such as bonds or stocks, from which the insurance company make a profit.
When it comes to payout in case of an accident, then the trickery and the manipulation skills of the insurance companies enters the stage: they are looking for every opportunity to make a fool of you! The personnel in these companies is highly educated and skilled, and they always strive to catch you unprepared.
They know how to take advantage on you if you are unsure and uncertain about your rights, if you are struggling financially, you seem like a person that would settle for a lower payout. They often suggest that you must take their current offer, or they will withdraw all offers the next day, or that their internal policies don’t allow them to pay for your kind of case.
Whatever the case is, it is strongly recommended to consult a lawyer, as you really can’t expect the insurance company to make the best possible deal for you. “Trust” can’t be combined in the same sentence with “insurance company”.
Remember, do not let a seemingly compassionate insurance company make a fool of you. They are always looking out for their own financial interests, not yours!