When you see commercials for insurance companies, it makes it seem like the goal, for the company, is to help you when you need it. They promote this idea that they are on your side and that all they want is to swoop in and assist you when you need it most.
But is this true? Insurance is a trillion-dollar industry. Like every other industry in the United States, the goal is to make money. The company isn’t there to help you. They’re there to earn money through premiums. Yes, that coverage may help you in some situations, but always keep the company’s end goal in mind. You know they are.
There are legal ways to do this
Naturally, there are plenty of legal ways for the company to make money, while still providing the services you need. The whole process of offering coverage requires them to consider the risks and determine how much you’ll need to pay on account of those risks. If your home or business is damaged, for instance, you may have been paying monthly premiums for years or even decades before filing a claim.
That being said, if the company seems like it is not operating in good faith, you may feel that they’re trying to rip you off. Maybe you’re not getting answers, you can’t contact them, they’re trying to intimidate you or they’re just denying a valid claim. Could it be that they don’t want to cover your claim to increase or protect their own profits?
What can you do?
Something like this can feel both frustrating and intimidating. It’s crucial for you to know about all of the options you have.