Peabody Personal Injury Lawyer

During this process, you will be sworn under oath and the insurance company’s attorney may ask you any question at all that they feel is relevant to the case. The purpose of these questions may not be clear to you, but they are often designed to find holes in your claim. During an EUO, you may not plead the fifth, declining to respond, and your own attorney is not allowed to object to any of the questions. If you are asked by the insurance company to participate in an EUO, contact your attorney immediately.

While insurance frequently covers medical expenses, including prescription drugs, insurance companies are notorious for being stingy when it comes to covering specialty drugs. If you are prescribed a drug that has just hit the market, a biological drug (one made from living organisms like cells or tissue), or a drug that has no generic alternative, your insurance company may refuse to provide full coverage. The catch with most specialty prescription drugs is that they are prohibitively expensive–these drugs can costs thousands of dollars per month. Due to the high cost, insurance companies often try to limit coverage to protect their bottom line from being eaten away by the costs of these prescriptions. Because of this, it’s important to factor the costs of these drugs into your settlement offer.

PIP insurance is a mandatory form of insurance coverage that generally comes into play when you have been injured in a no-fault state. This coverage is supposed to pay for medical bills and lost income following your car crash. If your insurance company offers you less than the full amount that you incurred in medical bills and lost wages, don’t sign anything before first consulting with your attorney. Once you sign a settlement agreement with your insurance company, there is no going back for more money to cover the difference.

If your car’s insurance policy covers lost wages, you are entitled to compensation for the income from time off work while you were recovering from your injuries. Insurance companies love to prey on victims who aren’t aware that they are entitled to these wages when extending an initial settlement offer. If you contribute substantially to your household income, or are the sole provider for your family, being compensated for your time out of work can be critical to your well-being.

MedPay is an optional coverage that is offered by most auto-insurance carriers and acts to cover the medical expenses that you or your passengers incurred after your crash. This form of insurance does have a cap, which varies by insurance company. Oftentimes, people aren’t even aware that they have MedPay coverage in their auto insurance policy, and insurance companies rarely mention it as a way to keep from having to pay out for medical expenses. In the eyes of the insurance company, the less they have to pay, the better the deal.

If you have a personal injury claim, you can all but guarantee that the insurance company will call you just days or even hours after the incident, offering to settle. Don’t be fooled into thinking that the insurance company has your best interests in mind and want to get you your money as quickly as possible. Part of the reason for pressuring you to settle early is to keep you from having the time to realize the full extent of your injuries. When it comes to car crashes, some of the most debilitating injuries can have a delayed onset. If you struck your head during the collision, you may develop a headache that won’t go away days or even weeks after the crash. Chronic back pain, stiffness, and numbness are also notorious for creeping up on you a good period of time after your crash. If you settle with your insurance company too early, you may be missing out on compensation to cover these persistent injuries.

When you sign a settlement agreement with an insurance company, you don’t simply sign a one-page document and go on your way. You will sign a mountain of complicated paperwork with a boatload of fine print. Oftentimes, a person signs these documents without reading carefully into what the paperwork subjects him to. You can almost guarantee that if a clause appears in paperwork prepared by an insurance company, it is not in your favor. One such clause can even require you to use the insurance company’s expert witness instead of your own to prove your injuries. In the eyes of the insurance company’s expert witness, you’re almost never going to be as badly injured as you truly are.

In a normal insurance settlement, the compensation that you receive is not considered income, and thus is not taxed by the federal or state government. If your insurance company demands a confidentiality clause in your settlement agreement, however, this should raise a red flag. The IRS has declared that money obtained in a confidential settlement is to be considered taxable income to the recipient. This tax can strip you of a hefty portion of your settlement.

As soon as the insurance company catches wind of the incident, you will be sent a stack of forms to sign. Nine times out of ten, this paperwork will include a medical authorization release. This document does nothing but hurt your claim; it gives the insurance company permission to dig through all of your medical records, including past medical history, doctors’ notes, and even how often you visit a physician. It’s always important to speak with your personal injury attorney before signing any document that an insurance company sends you.

When it comes to phone calls with your insurance adjuster, you can almost guarantee that every second of your conversation is being recorded. Insurance companies love to bait you into saying things that hurt your case in order to validate a low settlement offer. Even something as innocent as telling your adjuster that you’re “not doing too bad” after your injury can have a negative impact on your settlement offer. An insurance company is sure to use your words against you if it is in its financial interest.