What Exactly is Bad Faith Insurance? – Guest Post

If you’ve been involved in an accident, you would naturally expect your insurance provider to have your back. Since you’ve been making your payments every month, it only makes sense that, when you do need to file a claim, they’ll honor your request and ensure you receive fair and prompt payment. But this isn’t always the case. If your insurance company fails to honor their end of the contract, you may be able to file a bad faith insurance claim.

But what constitutes bad faith insurance? And how can you be certain that your insurance company is acting in “bad faith” and not just denying your claim? To help you better understand this unique aspect of personal injury law, we’re answering these questions and more. If you truly do believe that your insurance company is breaching their contract with you, then you should call an experienced bad faith insurance lawyer.

These professionals can help you better understand your case, the dynamics of working with an insurance company, and ensure that you receive the fair compensation you deserve. No one wants to take on a huge insurance company on their own. With a bad faith insurance attorney, you won’t have to.

WHAT EXACTLY IS BAD FAITH INSURANCE?

Love it or hate it, but we all need insurance. Both health insurance and car insurance help to protect you and your property, and in the event of an accident, help you stay protected by providing payment to cover damages or injuries. On paper, it seems like a pretty straightforward agreement. You pay your monthly payments, and if an accident occurs, they provide payment on your claim. But that’s not always how it works out.

In some cases, your insurance provider may attempt to deny a valid claim or offer a lowball offer. Remember, these are still for-profit companies that make their profits by paying out on as few claims as possible. Not every claim should be honored, of course, but if it is a valid claim and they deny it, this means your insurance provider is acting in bad faith.

HOW CAN YOU TELL IF YOUR INSURANCE COMPANY IS ACTING IN BAD FAITH?

Even after a careful reading, the details and specifications of your insurance contract can be confusing. Unless you’ve worked in insurance before, a lot of the language may sound foreign and confusing. But even if it’s difficult, it’s crucial to understand the details of your contract if you suspect your insurance provider is acting in bad faith. This is just one more reason why you should consider calling a bad faith insurance attorney. They can help you by reviewing your contract and identifying whether or not you have a viable claim.

But before you call a bad faith insurance lawyer, there are telltale signs that can alert you to bad faith insurance practices. Here are some of the most common examples of when your insurance provider may be acting in bad faith.

1. Denying a just claim without cause: it’s important to remember that your insurance company isn’t acting in bad faith simply because they deny a claim. This happens all the time for valid reasons. However, if your insurance provider fails to pay out on a just claim without reason, this is one of the most blatant examples of bad faith insurance. If your insurance company can’t tell you specifically why a claim is denied, then they’re probably acting in bad faith.

2. Undervaluing a claim: how much is your claim truly worth? This can be a difficult question to answer, and in some cases, your insurance provider may try to “lowball” an offer and pay out far less than the true value of the claim. A bad faith insurance attorney can help you assess a fair value for your injuries or damages.

3. Delaying payment on a claim: when you need your life to get back to normal, the prompt payment from an insurance claim is important. Of course, you shouldn’t expect to see your claim processed overnight, but your provider should work with you promptly and avoid unnecessary delays when it comes to getting your funds. If your provider keeps making delay after delay, this is usually a warning sign that something isn’t right.

4. Failing to conduct a proper investigation: you should expect your insurance provider to conduct a thorough and proper investigation of your accident so they can understand all the facts. However, they may fail to conduct a thorough investigation that will then lead to a denial of the claim. If this occurs, your insurance company is acting in bad faith and you can take legal action.

CONCLUSION – WHAT EXACTLY IS BAD FAITH INSURANCE?

When you’ve suffered from an accident, your insurance company should be there with you to provide the protection that is promised in your contract. However, this isn’t always the case. In some events, your insurance company may fail to honor a valid claim. It’s important to remember that, at the end of the day, insurance companies are still trying to make a profit. How do they do this? By paying out on as few claims as possible.

If you believe your insurance company is unfairly denying a claim, delaying a claim, or making a sudden change to your policy, you may be the victim of bad faith insurance. To ensure that you receive fair and full payment for your accident, you may need to call on the services of an experienced bad faith insurance attorney. They can help assess your case, determine whether your insurance company actually acted in bad faith, and fight for your rights if needed. They’ll negotiate on your behalf and see that your insurance provider honors their end of the insurance agreement. No one should have to face their insurance company on their own.