If an insurance company does not handle a valid claim in the proper timely manner, we are prepared to hold them responsible for any actions taken in bad faith.
Being able to Recognize Insurance Practices That May Be in Bad Faith
Under insurance policies you might have, your insurance carrier is required to act in good faith toward you. This means your insurer has a duty to treat you fairly when assessing the validity of any claims you file following an accident or injury. If your insurance company acts unreasonably or unfairly in handling a claim, it may be liable for bad faith. Some of the Insurance bad faith claims may involve:
- Failing to pay a valid claim
- Delaying payment on a claim with no legitimate reason
- Unreasonable underpayment on a claim
- Cancelling a policy to avoid paying a claim
- Failing to investigate a claim in a timely manner
- Failing to thoroughly investigate a claim
- Requiring an excessive number of statements or estimates to support a valid claim
- Failing to provide a written explanation as to why a claim has been denied
An insurance company may use many different tactics to deny, delay or underpay on a claim, such as using unreasonable interpretations of policy language to accomplish a certain result, or purposefully undervaluing property damage or the costs of medical treatment to pay less on a claim.
Here at the Rector Law Firm, we are fully aware of the means insurance companies use to avoid paying policyholders the maximum value of their claims, and can determine if underhanded methods were used in your case.
If a court finds that an insurance company acted in bad faith, a policyholder may be able to recover not only withheld policy benefits, but also damages arising from the insurance company’s bad faith acts. For example, you may be able to recover for emotional or physical distress if the insurance company’s unreasonable denial or delay of a valid claim led to life-altering misfortunes, such as loss of property or the inability to receive needed medical care.
If you feel your insurance company has not honored the terms of your insurance policy, or has otherwise handled an insurance claim in an unfair or unreasonable manner, please contact us here at the Rector Law Firm in Colorado Springs for a free initial consultation. We have specific experience handling insurance bad faith lawsuits, and have helped many clients receive maximum benefits under their policies, as well as additional compensation for mistreatment.