Rather than ask yourself if getting an attorney is necessary when you are injured because of another party’s negligence, the question should really be, can I afford not to hire an attorney?
Whether you or someone you care for was injured in a motor vehicle collision, a slip and fall, or a work injury, it is important to remember that the party that is responsible for your injury is likely represented by an insurance company whose goal it is to diminish and undervalue the severity of your injury and its insured’s negligence in order to compensate you as little as possible. Insurance companies routinely take advantage of unrepresented injury claimants in this way to maximize profitability for the company, and many of them are doing a very good job. In fact, the insurance industry is one of the most profitable industries in the United States, with insurance companies continuing to benefit at a record-setting pace.
2014 Sales for Auto Insurance Companies
- State Farm Insurance $35.6 Billion in sales (18.7% of the market)
- GEICO Insurance $20.5 Billion in sales (10.8% of the market)
- Allstate Insurance $19 Billion in sales (10 % of the market)
- Progressive Insurance $16.6 Billion in sales (8.7% of the market)
- USAA Insurance $9.8 Billion in sales (5.2% of the market)
- Farmers Insurance $9.7 Billion in sales (5.1% of the market)
- Liberty Mutual Insurance $9.5 Billion in sales (5 % of the market)
- Nationwide Insurance $7.3 Billion in sales (3.9% of the market)
- American Family Insurance $3.5 Billion in sales (1.9 % of the market)
- Travelers Insurance $3.2 Billion in sales (1.7% of the market)
Information on policy sales and market share come from SNL Financial and the Insurance Information Institute.
As you can see, insurance companies make billions of dollars a year and will continue to do so by selling high dollar insurance premiums and then taking advantage of unsuspecting injury claimants by undervaluing their claims. Before you begin to communicate with an insurance company about your claim and your related injuries it is in your best interest to contact an attorney as soon as possible. Don’t fall into the trap- make sure your interests are represented by an attorney so your claim is respected. Call Herrman & Herrman, P.L.L.C., for a free consultation today.