What is Insurance Bad Faith?
Denial or Delay of Payments
Your insurance policy is a contractual agreement between you and your insurance company. You regularly pay your premiums and in return, you expect help when your home or business runs into trouble from fire, floods, storms, break-ins and other sources. Many times, however, insurance companies deny valid claims, attempt to delay payments or try to get you to settle for an amount less than you are owed.
When an insurance company acts in this manner it is called "bad faith" and there are legal remedies which a committed attorney from Price Law Group can explore to help you in obtaining the benefits you should receive.
Insurance companies make profit from your payments, not by paying out benefits. Their adjusters are trained, therefore, to do all possible to deny or reduce the amount of your claim. You claim can be denied on a technicality or because of small loopholes in a policy. Sometimes, adjusters can wear you down by requesting unnecessary data with the intent of getting you to just settle for what they offer. Offers to repair the damages you sustain can be substantially lower than you factually need to make necessary repair and the end result can be the home or business owner in financial trouble. The firm has worked for over 20 years in assisting more than 100,000 people through tough financial situations and is prepared to fight for your rights to insurance benefits.
Has your insurance claim been denied?
There have been instances where an insurance adjuster will threaten to lower the amount of a settlement if an attorney is retained to represent a policy holder. They do this for a good reason. If you have a lawyer working on your behalf, the chances of your obtaining a much larger settlement are significantly increased.
Frequently, people do not follow up on a denied insurance claim as they do not understand the process and what their rights are. This is where the firm's attorneys come in, to successfully guide you through each step of the process with the goal of obtaining the settlement you deserve.
Contest the Denial!
You have every right to contest a denial of your insurance claim. When you suffer damages of some nature, you will need to report this to your insurance company by way of filing a claim. Your claim will then be evaluated by a professional claims adjuster against your insurance policy. Even if your claim is not fully denied, you may be offered compensation that is less than what you believe that you deserve according to the terms of your policy. Once your company informs you of what your claim is worth, they may close your case. Even under these circumstances, you can have your case reopened for further evaluation and negotiation. An attorney can help investigate and find the evidence that you need to possibly prove that you are entitled to much more than what you were originally offered.