Tag: Bad faith insurance

bad faith

Bad Faith Practices May Bankrupt Policyholders with Valid Claims

Posted by rainmakereditor on with 0 Comment

If you have filed a claim with your insurance company, chances are you are waiting to hear back as soon as possible, as this is not a situation you have—or are able to—put on the back burner–even though it may seem like that is exactly what the insurance company is trying to do to you while you go bankrupt. The differences between an insurer acting in good faith and one doing the opposite are usually glaringly different, and quickly apparent too.

In most cases, an insurance adjuster (whether from your company or that of another party who may have caused property damage or physical injury to you by way of an accident) will be calling right away to gather facts about a case and open an investigation to oversee expedient resolution for you as a policyholder. In some cases, however, an insurance company may be disorganized on the job or practicing bad faith altogether. There are varying degrees of this behavior, but should you pursue a lawsuit against them, any of this bad behavior can land them in hot water in court.

In a normal situation, a typical homeowner’s claim or a car accident claim, for example, should be an open and closed case, assuming there are no problems on your end. If this is not happening, you may be confused and even on the verge of panic regarding your finances. This may be especially true if you have been forced to front out large sums of money to pay for medical bills due to physical injury or property damage.

Medical issues are the number one reason consumers in the US file for bankruptcy each year, with car accident injuries playing a large role. Such an unexpected event is in many cases one of the most traumatic events that can happen in a lifetime, and to have physical pain exacerbated by financial worries may seem unbearable. If the insurance company is acting in bad faith, you may feel like you have nowhere to turn as you are experiencing unreasonable delays, denials that make no sense, and varying forms of harassment—even to include demands like ongoing requests for excessive documentation so they can prove your claim in not valid but rather, motivated by a need for money.

If you do receive a settlement, a large portion of that will probably go to those you are indebted to, depending on your claim. If you have been injured, you may even need to reserve some of those funds for more procedures or surgeries in the future. 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!

 

Homeowners Insurance

Homeowners Insurance & Typical Exclusions

Posted by Jeffrey Bolender on with 0 Comment

Insurance is a vast industry, taking in trillions in premiums every year and churning out massive profits. Much of it is controversial in nature too in realms such as health, as millions struggle under plans that are still costly and inferior. Car insurance accidents may leave policyholders tied up in court and settlement discussions for long periods of time, and commercial liability cases may be extremely complex to resolve. And although it may be the most important insurance you ever purchase for yourself and your family, your homeowner’s policy could be surprisingly complex. Be aware of what you are buying!

Most of us assume our homeowner’s insurance will cover disasters that could potentially render us homeless; however, this is not the case in many instances. If you live in California, it is vital to understand what your policy will cover in terms of an earthquake or landslide, for instance. This usually requires coverage beyond the basic policy. For those living in coastal areas, you may have to purchase flood insurance through another entity, while wind and hail could possibly be covered in an initial policy. Your insurance agent will be able to guide you through what is and what is not available as you navigate the process of getting quotes and applying for a policy but be certain that you know all the right questions to ask.

Something as simple as owning a breed of dog (especially those ‘considered’ to be aggressive like Rottweilers or pit bulls) or purchasing one during the interim while your policy is going into effect could cause problems with the insurer, along with the potential for being turned away for insurance or facing a cancellation later when they find out. This type of exclusion pertains to liabilities that are not covered, and there may be others as well, including issues like injuries due to slipping and falling.

Understand what could be excluded due to lack of coverage regarding maintenance issues or damage caused by environmental hazards. Construction defects are often not covered, and this is extremely important to be aware of if you are purchasing a newer or older home. That leaking roof could destroy much more than just the attic flooring, but has the potential to wreck HVAC units, walls, ceilings, and more. Structural or foundation defects could lead to safety concerns for you and your family, along with enormous expense. Think about the long term when purchasing any type of insurance, but especially that of your home.

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!

endorsements

Endorsements and Riders: Know When You Need Them

Posted by rainmakereditor on with 0 Comment

Saying you are going to buy insurance sounds easy enough. Maybe you want to insure your car or your home or your business—or yourself, with a health or life policy. Finding a good insurance agent is your first task, and then explaining exactly what you need. You may be happy enough to let your agent figure out most of the details, hit the highlights with you, and then complete the transaction with some signatures and an initial payment for premiums. This may not be a problem if you never have a claim but having a comprehensive understanding of your policy really is necessary so that you understand your coverage.

Peace of mind is good, but not if it is based on error! Take the time to listen to your insurance agent when you are buying a policy and ask for clarification on anything that seems vague—or difficult to understand. This is especially important regarding any changes or additions to your policy too, in the form of exclusions or riders.

With an exclusion, there may be certain coverage that is not available to you. This is extremely important to know about and understand so you are not left unprotected later. A good example of an exclusion would be typical in a homeowner’s policy: flooding is usually excluded and must be purchased separately. In an automobile accident, there may be a liability exclusion if your business vehicle were to be damaged—meaning that your personal policy clearly states that it would not be covered.

A rider is the opposite of an exclusion as it adds something to your policy, usually at additional cost. You may add a rider to your life insurance like an accelerated death benefit option so that the policy pays out early, while you are still alive, should you be stricken with an unfortunate, terminal illness. As another example, you may add a rider to your homeowner’s insurance for valuables such as jewelry that could have been excluded otherwise. Speak to your insurance agent about all your assets and valuables that need to be protected and understand what isn’t covered so that you can then examine whether it is worth it (or necessary) to buy additional riders for your insurance policy.

Are you concerned about a recent claim, or are you trying to understand your insurance policy? If a dispute over a claim cannot be easily resolved through a call or written communication, the Bolender Law Firm 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!

examining bad faith

Examining Bad Faith & Common Tactics

Posted by rainmakereditor on with 0 Comment

While it’s obvious that the insurance industry revolves around money (and big, big money at that), it also revolves around contracts, promises, that can lead to enormous conflict when broken. And there are many different types of insurance that are vital to our financial survival. While insurance companies may think little of delaying investigations, offering payment on a claim or denying one altogether, their actions can have devastating consequences to you as the policyholder—as well as your family, business, and professional life.

You may be in the dark at first regarding bad faith practices; after all, you probably have little reason to expect any problems, and you may not have ever filed an insurance claim before, much less had to worry about suing an insurer for dubious denial or delay of claims. After a lifetime of no problems with insurance, it may be extremely difficult to swallow the fact that they want to hold out on paying for a homeowner’s claim, or one for car insurance, life insurance, or more.

Your first inkling that there is something strange going on is that well, nothing may be going on. Most insurers are quick to get an adjuster on the job, with them calling to ask about injuries, damages, and more. There may also be delays, occurring without any good reason. Beyond that, an insurer acting in bad faith may begin putting the responsibility on you to provide voluminous amounts of information—much of which may seem difficult to connect to the claim you have filed. In many cases, this is a form of intimidation meant to wear you down in hopes that you will give up and they will not have to pay out a large sum of money.

Other intimidation tactics may include verbal abuse or humiliation on the phone or during interviews, suggestions that you should take the settlement offered or you will get nothing, as well as accusations regarding fraud or other allegations. You may also find yourself being offered a settlement, but it may be unreasonably low. Because insurance companies are in many cases quite wealthy—and powerful within their own realm—they are used to being able to push around consumers who may be in dire straits financially after an accident or a catastrophe. When filing a serious claim, do not try to go it alone against the insurance company!

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!