The American Association for Justice has named its “Ten Worst Insurance Companies.” The ten are Allstate, Unum, AIG, State Farm, Conseco, WellPoint, Farmers, United Health, Torchmark and Liberty Mutual.
The names of the companies on the list aren’t nearly as important as what they did to make the list. You could be insured by a company that missed the cut, but has the same questionable business practices.
The insurance industry as a whole has secrets they don’t want you to know. Here are a few things the worst insurance companies have in common:
- Denying and delaying -- One of the most frustrating things an insurance company can do is deny or delay a perfectly legitimate claim. Big insurance companies do this to impose their will on people. That’s why you need a law firm like Hupy and Abraham to fight back!
- Increasing Premiums -- What’s the point of having insurance if you get punished for using it? If you’re considering filing an insurance claim, you not only have to consider the cost of the deductible, you need to budget for higher monthly premiums.
- Lying to Policyholders -- To ensure you have the coverage you were told you’d receive, you should actually read the papers you sign. Sometimes, there’s a profound difference between what your insurance agent tells you and what your contract actually says.
- Putting Profits Over People -- When people submit claims, insurance companies are singularly focused on paying as little as possible. According to the U.S. Department of Treasury, the life/health insurance sector accumulated profits of $40.9 billion (not to be confused with revenue), while the property/casualty insurance sector raked in profits of $37.3 billion in 2012.
When choosing an insurer, consider factors beyond which company has the most clever ad campaign. Insurance companies love to spend money on marketing, but not on paying claims to accident victims.
If you’re injured in an accident, don’t let the insurance company deny and delay your claim. Call the attorneys of Hupy and Abraham at 800-800-5678 to find out what your case is really worth.
