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How Private Investigators Save Businesses and Lawyers Money

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The work of a private investigator can seem mysterious to many people. Whether you picture film-noir detectives or Sherlock Holmes, the details behind their work are usually unclear. However, for lawyers, insurance companies, or employers with investigative needs, understanding the value of a reputable private investigation agency can translate into significant cost savings.

Financial Savings: Time is Money

Conducting an investigation on your own might seem like a cost-saving measure, but it often results in higher expenses due to lost productivity. As a professional, your time is valuable. Spending hours learning investigative techniques and conducting basic tasks can quickly eat into your client’s retainer or your organization’s productivity. Private investigators perform these tasks daily and at a lower hourly rate than lawyers, allowing you to allocate resources more efficiently.

Moreover, the productivity lost while attempting to handle investigations independently usually exceeds the cost of hiring a professional. An investigator’s expertise ensures a thorough investigation, saving you both time and money.

Risk and Opportunity Cost: Avoiding Costly Mistakes

The risk of missing crucial information or making errors can be significant. In litigation, missing evidence can cost you the case. For employers, hiring the wrong person can lead to lawsuits or worse. Insurance companies face the risk of paying out on fraudulent claims if their investigations are not thorough. Additionally, lawyers cannot serve as witnesses in their own cases, but investigators can testify to their findings.

Hiring an expert minimizes these risks, exposing you to fewer potential losses and allowing you to focus on your area of expertise. This results in a better return on investment.

Three Reasons Hiring a Private Investigator Pays Off

1.) Efficiency

A simple background investigation can involve analyzing records from numerous entities, a process that is time-consuming for those unfamiliar with it. The complexity of investigations often requires an experienced investigator to meet deadlines related to litigation, hiring, and insurance claims. Private investigators have the training and tools to conduct investigations efficiently and within budget constraints, ensuring relevant facts are uncovered in a manner that withstands scrutiny.

2.) Access

Private investigators have access to specialized tools and data brokers unavailable to the average person. They are well-versed in navigating public records and have established relationships with various agencies, facilitating quicker access to necessary information. For more on investigators’ tools and methods, see part three of our series on locating individuals.

3.) Expertise

In many areas of investigation, there are no second chances. Professional investigators have the expertise to avoid mistakes that could jeopardize the investigation, such as mishandling service of process or botching interviews with crucial witnesses. Ensure your investigator has a good local reputation and is licensed, insured and bonded.

A Professional Investigator is an Investment, Not a Cost

Even if you can handle some aspects of an investigation, it is usually more cost-effective to hire a professional. Consider these questions to evaluate the return on investment (ROI):

  • What is your own time (or your assistant’s/paralegal’s time) worth? How much time will you spend learning and performing basic investigative tasks instead of focusing on your expertise?
  • How much is your civil case worth? What is the financial impact of missing a detail or being unable to find a witness?
  • In a criminal defense case, what is the cost to your client if you overlook exculpatory evidence?
  • What is the cost of a fraudulent insurance claim if effective surveillance or background research is not conducted?
  • If hiring a new employee, what are the potential repercussions of missing a criminal record or sex offender status? How would this impact your company’s reputation or safety?

The relatively minor expense of hiring a professional private investigator pales in comparison to these potential costs. Ultimately, investigative expenses should be viewed as an investment. A reputable private investigator conducts thorough investigations efficiently and effectively, providing a significant return on your investment.

At Haywood Hunt, we have the experience and expertise to conduct any investigation. Whether it’s Workplace Fraud, Asset Tracing and Recovery, Insurance, WSIB Investigations, Background Checks, Surveillance and more, we have you covered. If you require professional investigations for your workplace, contact us today for a free consultation.

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How Private Investigators Save Businesses and Lawyers Money

The work of a private investigator can seem mysterious to many people. Whether you picture film-noir detectives or Sherlock Holmes, the details behind their work are usually unclear. However, for lawyers, insurance companies, or employers with investigative needs, understanding the value of a reputable private investigation agency can translate into significant cost savings.