COVID-19 seems to have possibly the biggest impact on the U.S. economy since the Great Depression. We’ve seen stock crashes before, massive layoffs, recessions, and more, but nothing quite like this. So how much is COVID-19 affecting your claim? If you were hurt in a crash recently, it’s very likely that you haven’t even had the chance to have necessary but non-urgent surgery.
Your claim may be put into a “hold” of sorts, or not have even passed over someone’s desk yet. It’s critical that you take some control and make your demands of the company that you pay monthly. If you have been injured in an accident contact a Cleveland accident lawyer.
Impact on the Insurance Industry
One major global insurer, Chubb, has made a promise to the industry that they would not layoff anyone. They also promised $10 million for a charitable donation for emergency workers. Now, that doesn’t mean that other companies followed suit. Nearly all other insurance companies have issued layoffs or furloughs. However, that’s not necessarily new for the insurance industry.
Although it seems largely like the insurance industry has taken a hard hit, these layoffs were only a matter of time. With electronic claim submissions and technology making it easy for customers to manage their own claims, representatives are not so necessary.
The large fear across many people with open claims right now is that they should settle, because who knows what could happen. The feeling is that some money, even if it’s too little, is better than nothing at all. Settling, by definition, means that you’re probably not getting full compensation or at least full value.
Settling is a normal part of a car accident claim process. Most people settle, and that’s fine because often it’s enough to pay off medical bills and take care of the car. Now, when a company is forcing someone to settle, it probably won’t cover the basic damages. Basic damages, including your medical bills and property damage, should always get covered through insurance settlements.
Are You Experiencing Serious Delays?
One of the big claims at the moment is that insurance companies can’t process your claim because they’re hit. The feeling that they are too understaffed or underprepared to handle claims during COVID-19 is a poor excuse for ignoring your claim. Your claim deserves attention, and they have plenty of people working from home to manage the claims in their system.
People aren’t driving as much. Most are stuck at home, and since early March, car accidents have hit record lows. There is no reason for anything more than a slight delay. Yes, give your insurance company some time. They are all adjusting to working from home and handling the new system. However, if you’re going weeks without hearing something on your claim, then something is seriously wrong.
So what happens if your claim is delayed more than a little? Call an attorney for your car accident claim to ensure that it’s actually in progress. Your attorney could begin managing your case even if you filed the initial claim without them. Attorneys, just like insurance representatives, are working remotely, and communicating by phone or email is the new normal.
Always Put Your Family and Needs First
While it’s tempting to excuse the delay or low settlement in the name of the greater public health, it’s not reasonable. If you are out of work now or missing work because of your injuries or COVID-19, then you can’t miss out on a settlement. Accepting too little monetary compensation for your medical bills and property damage can put your family in financial jeopardy.
The financial ramifications of one bad accident on top of the chaos happening across the globe can cripple a household. Don’t fall into the trap of thinking that the settlement offers they’re pushing you into is the only option available.
Get Yourself an Ohio Car Accident Attorney
All too often, people feel as though they can only file their claim and hope for the best. That’s not true. You have real options for getting full compensation even when the world seems to be on its head. COVID-19 is not affecting the insurance industry as much as it might seem. You and many others are experiencing undue delays and greater pressure to accepted settlements.
Don’t accept a too-low settlement, and don’t waste your time fighting a case on your own. Get a Cleveland car accident lawyer on your case by going to 1Ohio. Our attorneys aim to build solid cases that support your needs as a victim of financial compensation.