Underpaid, Delayed or Denied Insurance Claim? You Don’t Have To Take “No” For An Answer.
NO FEE IF NO RECOVERY ON ALL CASES
The insurance industry is a business like any other. Their profits are based on collecting, holding and investing money. It is bad for any business when money is outgoing instead of inflowing, and insurance companies are no different. However, the difference between the insurance industry and other industries is the fact that when a premium is collected, only a promise of potential performance is given by the insurer in return. As a result, insurers are theoretically held to a higher standard regarding the fiduciary relationship they maintain with their client, the insured. In theory, the insurance company is required to maintain the interests of the insured at a higher level to their own interests. In days gone by, this had seemed to be the case in most situations; however, in the current economy where making money is everything, it seems that many insurance companies have lost touch with this concept. As a result, now more than often claim payments are delayed, denied and disputed by the insurance companies.
Bad Faith Insurance Claims
Insurance companies that unreasonably deny the coverage you have already purchased are acting in bad faith. Not every denied insurance claim is bad faith, but if you have been denied insurance coverage or have been offered a reduced settlement of your damage claim without proper justification or adequate warning, you may have a bad faith insurance case against your insurance carrier.
12 Signs That Your Insurance Company May Be Acting in Bad Faith
- Unwarranted Denial of Coverage
- Failure to Communicate Pertinent Information
- Refusal to Pay the Claim Without an Investigation
- Failure to Conduct a Reasonable Investigation of the Claim
- Failure to Deny or Pay the Claim Within a Reasonable Period of Time
- Failure to Confirm or Deny Coverage Within a Reasonable Period of Time
- Failure to Attempt to Come to a Fair and Reasonable Settlement When Damage is Clear
- Offering Substantially Less Money to Settle than the True Value of the Claim
- Failure to Promptly Provide a Reasonable Explanation for Denial of a Claim
- Failure to Enter into any Negotiations for Settlement of the Claim
- Failure to Respond to a Time-Limit Demand
- Failure to Disclose Policy Limits
To learn more about bad faith insurance claims, request our free book: Disputes with Your Insurance Company - What All Consumers Need to Know.
The Voss Law Firm, P.C. handles insurance litigation lawsuits and bad faith claims on a contingency fee basis. This means that if you win, our fees come out of your settlement. If you lose, you pay nothing. To schedule a free confidential consultation, contact our bad faith insurance attorneys at 1-866-276-6179.