Have you been in an accident in Virginia? When you have to deal with the insurance company, filing an insurance claim can feel like a lot of work. 

People may have used the phrase “good faith offer” to make you think that your insurance company has to settle your claim fairly. But is that really the case? In Virginia, insurance claims can be very different from what they seem to be. 

The Jackson Law Group, PLLC, can help you if you are having trouble with your insurance claim. Lawyers have a lot of experience and know-how. Virginia’s insurance rules work. They can fight for your rights. 

Understanding minimum coverage in Virginia. 

Let us set the stage before we get into the world of claims. Virginia law says that all cars must have at least liability insurance. This covers any harm you cause to other people’s bodies or goods in an accident. These are the minimum amounts of coverage:

• Liability for bodily harm is $25,000 per person and $50,000 per accident.
• $20,000 per accident for property damage.

These are the bare necessities; it is always better to have more coverage. 

The “good faith” offer is a myth. 

After an accident, a lot of drivers think that their insurance company has to make a “good faith” payment offer. It sounds like they should give you a fair amount to make up for what they took away. That is not quite how things work in Virginia, though.

When you deal with an insurance company in Virginia, they only have to act in “good faith.” This means they have to quickly handle your claim, investigate it fairly, and not do anything dishonest. That being said, they do not have to give you the full amount of your claim. 

How do insurance companies value your claim? 

That being said, how do insurance companies choose how much to pay for your claim? They look at a number of things, such as:

• How bad are your injuries? Your medical bills and future medical needs are very important.
• How bad is the damage to property? The amount of money needed to fix your car or its worth is taken into account.
• Shared fault. If you were partly to blame for the crash, you may get less money for your injuries.
• Limits on policy. They can not give you more than what your insurance covers.

This means that insurance companies have a strong reason to settle your claim quickly by giving you the least amount of money possible. They could play down your injuries, try to get less money for your car, or even refuse to pay your claim at all. 

What can you do? 

Now that you know what “good faith” really means, here is what you can do to stay safe:

• Write down everything. Do not throw away copies of your medical bills, police records, or emails you send to your insurance company.
• Know what your policy says. It is important to read and understand your insurance contract, especially the parts that say how much it will cover.
• Do not take the first offer. Insurance firms often begin with a cheap amount. Do not be afraid to talk things out and get a good deal.
• Talk to a lawyer. If you are not sure how much your claim is worth or are having trouble dealing with your insurance company, you might want to talk to a personal injury or insurance law expert. 

You can better handle the claims process and fight for the money you deserve if you know about Virginia’s insurance rules and the myth of the “good faith” deal. 

Do not forget that insurance companies are businesses that want to make money. When you need them the most, do not let them take advantage of you. Scheduling a meeting with a lawyer who has knowledge in this area of law can help you in a number of ways.