Should I Give a Recorded Statement to the Insurance Company?

The insurance adjuster asked me to give a recorded statement. What should I do?

Although insurance companies participate in a complex industry involving complicated laws and regulations, insurance companies have a simple business model. Claims paid and overhead expenses are deducted from premiums paid and investment returns to give the insurance company its profit. The insurance industry is big business, with insurance companies making billions in profits.

An insurance company’s biggest expense is insurance claims paid. The less an insurance company has to pay in claims the higher the insurance company’s profit. Insurance companies train their employees to look for loopholes and defenses to valid and legitimate claims in an effort to pay as little as possible on each and every claim. The effort to minimize payment on a claim begins when you initially report your claim.

When you initially report a claim, either to your own insurance carrier or to the insurance carrier of the negligent party, know that the insurance adjuster you are speaking with is very familiar with the fine print of the applicable insurance policy. Insurance adjusters are trained to look for loopholes and exclusions found in the fine print of the applicable insurance policy so they may seek to deny payment of any kind under the policy. Do you really think you know the fine print of your insurance policy better than the insurance adjuster?

Additionally, insurance adjusters are trained to find ways to create a record that allocates blame to someone other than their insured and minimize the injuries of all involved. Insurance adjusters attempt to create this record as soon as they are aware a claim is being made.

You should never, under any circumstances, provide any insurance company with a recorded statement without first consulting with an attorney.

This rule even applies when it is your own insurance company asking for the recorded statement. The sole purpose of obtaining your recorded statement is for the insurance adjuster to create a formal record unfavorable to your claim before you have legal representation and before you may even know the full extent of your injuries. The insurance adjusters are trained to create a record that they can and will use against you.

Do not allow the insurance company to take advantage of your good will and misplaced trust. Contact our office for a free consultation to discuss your rights and responsibilities when communicating with insurance adjusters about your claim.

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