If you’ve ever bought an insurance policy, you’ve probably come across the Worst Tricks Insurance Companies. While there are plenty of companies that are less than trustworthy, some companies use illegal tactics to swindle consumers. For example, Allstate is notorious for cheating policyholders. It has created a system that enables agents and adjusters to fudge data to lower their costs and increase profits. The company hired the consulting firm McKinsey & Co. to help it create these practices. The company then trained agents and adjusters to lie to consumers. They receive extra compensation for dishonest claims reductions.
Why Need to Know About The Worst Tricks Insurance Companies Use
Insurers employ many tricks to get you to pay more than you deserve, including using questionable tactics. Knowing the worst of these tactics can protect you from being ripped off and getting cheated by insurance companies. It is essential to know how to avoid these tactics. Insurance adjusters use these strategies to minimize your claim value and create complications in your case. Here are some common tricks insurance companies use to deceive their customers.
One of the worst tricks used by insurance companies is to get you to sign a release before consulting with an attorney. In addition, insurance companies often use a tactic called a “complete release” to prevent victims from filing claims or receiving coverage. They may even lock checks in a safe until they get complaints. Claims handled by AIG can take years to process and sometimes lead to millions of dollars in wasted costs.