There are a few reasons why an insurance company might drag its feet or lowball with a car accident settlement. One reason could be that the company is trying to minimize its financial exposure. If the company can settle the claim for a lower amount, it can reduce the amount of money it has to pay out. This can help the company improve its bottom line and increase profits.
Another reason could be that the company is trying to challenge the validity of the claim or the amount of damages being sought. The company may believe that the damages are not as severe as claimed, or that the policyholder is not entitled to the full amount being sought. In these cases, the company may try to negotiate a lower settlement amount.
Finally, the company may be understaffed or overwhelmed with a large number of claims, which can lead to delays in the settlement process. This can cause frustration for policyholders who are trying to resolve their claims quickly.
It's important to note that insurance companies are businesses, and their primary goal is to make a profit. As such, they may try to minimize the amount they pay out on claims in order to improve their financial performance. However, insurance policies are contracts, and policyholders are entitled to the benefits outlined in their policies. If you believe that your insurance company is unfairly lowballing your settlement or dragging its feet, you may want to consider seeking the advice of a lawyer.