When you buy an insurance policy, mutual promises are being made between you and the insurer. In exchange for payment of your monthly, quarterly, or annual premiums, you are given protection in the form of insurance coverage—whether that is for health, life, home, business, or more. And while some insurance may be required, other types are just recommended, and rightly so as coverage could mean the difference between saving your home or business or finding yourself in catastrophe both property-wise and financially too.
Insurance is not only important to our finances, but often our livelihoods too. Because of this, as consumers in the US we take it very seriously and expect to be backed up by our insurers when something goes wrong. Unfortunately, in some cases there may be loopholes in policies, errors, or general misunderstandings regarding coverage. To have a claim denied can be devastating in some circumstances, and this is even more frustrating if you believe the insurance company is acting in bad faith. You may have done due diligence in shopping for policies, assessing your needs, finding a good agent, and updating policies quarterly or annually depending on changes.
Why would an insurance company act in bad faith? While it is atrocious behavior that often leaves policyholders feeling like they have nowhere to turn, the reasoning behind their actions is usually as simple as greed. Insurers churn out billions of profits each year, and they don’t do so by giving out large discounts or giving anything away; in fact, most premiums are on the increase—both continually and substantially so.
Bad faith practices, whether emanating from agents, adjusters, or other customer service representatives, must be reported and the insurer must be held accountable for such unethical actions. Typical red flags alerting you to something awry with your claim include ongoing delays; in fact, you may be shocked to find that investigative measures have not even been taken at all regarding your claim. If an effort is made to settle your claim, the amount offered may be unreasonably low, and you may find discrepancies between what your policy states and what the adjuster says. You may be wrongfully accused of fraud, asked to bring forth unreasonable amounts of unnecessary amounts of documentation, or just denied altogether.
If you need help reviewing your insurance policy, or if you suspect your insurance company may be denying your claim in bad faith, contact the attorneys at the Bolender Law Firm. If a dispute over a claim cannot be easily resolved through a call or written communication, our attorneys will advocate on behalf of policyholders through litigation, arbitration, or non-binding mediation. Our attorneys are experienced in representing clients in state and federal courts, at both the trial and appellate level. Call us at 310-320-0725 now or submit an easy consultation request online. We are here to help!