Allstate is one of the oldest and wealthiest insurance companies in the United States. Founded in 1931, its net worth as on March 2021 stands at $3.505 Billion. Recent data suggests that Allstate Corporation provides insurance cover to nearly 113 million people. Allstate’s major business is private passenger auto and homeowners’ insurance, primarily offered through agencies.
The scale of Allstate’s business and profits can be gauged form the numbers we have shared above. However, like other insurance companies, Allstate works on a “for-profit” agenda. Their objective is to make as much money as possible by charging hefty premiums and giving miniscule settlements. Hence, if you’ve been in a motor vehicle accident, for instance, a car accident you’ve to file the claim with Allstate, it is best you leave it in the hands of a car accident lawyer to take a lead on the settlement.
But it is always good to be prepared. Here is some important information about the process involved while filing a claim with Allstate and some caveats involved.
- History of low offers: First things first, Allstate does not enjoy the best reputation when it comes to settlement. They’re known to undervalue the loss / injuries caused and offer lower than expected compensation. It is best to let a qualified and experienced injury attorney handle it.
- Use of Colossus: Allstate uses an in-house, complex software which calculates the settlement amount based on various factors. The biggest downside of this software is lack of human involvement in the whole process. This truly undermines and often ignores various important aspects of the accident in question. Moreover, they try to convince the victim to settle for their offer even before they have tome to get an injury attorney, don’t fall in this trap.
- They have lawyers in-house: One of their biggest cost-saving strategies is using in-house lawyers for as many cases as possible. Moreover, these lawyers are completely aligned to Allstate’s goals of low offers and quick settlement. These lawyers, while are on Allstate’s payroll, are often set up in a dummy corporation and represented as independent and objective lawyers.
Never let your guard down if you’re up against Allstate. It is critical that you immediately hire a car accident lawyer, compile all your documentation in consultation with the lawyer, and do not lead any independent conversation / discussion with the Allstate representative. Let the car accident attorney take it forward for you.
Don’t worry, we are here for you!
It may seem that if Allstate is involved, nothing can be done! No, it is important that you hire a qualified and experience car accident lawyer to represent your interests. They’ll do their best to make sure you get a fair compensation.
If you or someone you know has been in a car accident, you need a car accident attorney, contact Siler & Ingber today. Call us on 1-877-529-4343 or complete our online form on this page to schedule a case evaluation with one of our experienced car accident lawyers. Our consultation is free and we do not charge a fee unless we win your case.