State Farm Car Accident Lawyer
State Farm Auto Insurance
State Farm is the nation’s largest auto insurer, and its revenues dwarf that of GEICO. The insurance company is actually a myriad of companies under one roof. The company is involved in both insurance and finance. It is a bank and a conglomerate that provides many different types of insurance. The company’s revenues reach nearly $82 billion annually.
Many motorists feel safe using State Farm because they are a large and stable company. However, while an insurance company is entitled to make an operating profit, many insurers increase their profits by failing to pay insured motorists the full value of their claims. Companies such as State Farm try to pay drivers pennies on the dollar when motorists have a viable claim that merits more compensation. While they may portray themselves as your ally, friend and neighbor, their biggest concern is their balance sheet.
How Does State Farm's Profit Motive Affect You?
There are several ramifications to this when filing a claim with State Farm. They will be detailed below.
- Do not fully trust the insurance company – While you should still be cooperative and honest, do not mistake the adjuster or the insurance company as your friend. Be careful what you tell State Farm because they are looking for any excuse to pay as little as possible or nothing at all. While you must give them the facts, avoid any kind of editorializing and let them make the determinations, knowing that what they decide is not the final word.
- Do your homework before accepting anything – State Farm is likely going to try to take advantage of the fact that they have an exact idea of what your claim is worth. This is their business and they have been insuring motorists for approximately 90 years. State Farm will have actuaries, lawyers, statisticians and other subject matter experts on their payroll. They can easily figure out how much your claim is really worth. You, on the other hand, have either had zero accidents or very few auto mishaps. State Farm has an information advantage over you and their business strategy depends on having superior knowledge to insured motorists. They know what works to keep motorists from their money because they have been doing it for many years.
- You should expect to be lowballed – State Farm is betting on the fact you may rush to accept their first settlement offer so they will offer you less than you deserve. State Farm expects anyone who files a claim to need the money sooner rather than later and may not have the time for negotiations or the financial ability to hold out for a larger settlement offer.
Here Is What You Can Do
State Farm has been the subject of numerous lawsuits and class action suits based on its business practices. State Farm has had to defend against charges of consumer fraud and racketeering in a number of legal actions brought by private plaintiffs and regulators. Knowing that you are dealing with a business that is first and foremost interested in its balance sheet, you should exercise caution and do what is necessary to fight for your legal rights. Below are some options you can take to fight for your own interests.
- Do not accept everything that the insurance says as a given – If State Farm claims you were negligent when you were not or if they dispute your injuries, make sure to correct them on their misstatements. Like any other company, they must follow laws and regulations. Just because State Farm says something is true does not mean that a jury will see it their way. Even though State Farm is one of the biggest companies in the country, there is no need to fear them.
- You can always negotiate and try to get more money – Generally, it is a good idea to reject the insurance company’s opening offer. When you do that, you can counter with an offer of your own and attempt to get a better settlement.
- Hire a State Farm car accident lawyer – When insurance companies know that an insured individual is represented by counsel, they may try to get away with less. State Farm will often try to be fairer with motorists when they know a car accident lawyer is involved. When you hire your own State Farm car accident lawyer, State Farm’s informational advantage decreases.
- File a State Farm car accident lawsuit – Settlement offers have a way of getting larger when there is the possibility of litigation. When that happens, the control of the case shifts to the jury and State Farm is the same as any other litigant. While litigation may not always persuade State Farm to make a fair settlement offer, a lawsuit puts some of the pressure on them.
Contact a State Farm Claims Lawyer Today
Our car accident lawyers have been dealing with insurance companies like State Farm for many years. We know the tricks that State Farm will use to keep you from getting your money and we know how to take the fight to them when the success and viability of your claim are at stake. Contact us today if you are dealing with State Farm and want to get every penny that you deserve.
Call 855-551-1019 or fill out an online form for a free case evaluation.