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How to Avoid Bad Faith Action By Your Insurance Company

 

In an industry where bad faith action is rampant for some unscrupulous companies, how can ordinary consumers protect themselves from insurance disputes? If your insurance company has wrongfully denied your claim or has not honored your policy in some other way, you do have recourse. We always recommended seeking out the services of bad faith insurance attorneys.
 
With no federal oversight board, state agencies must investigate tens of thousands of unfair insurance practice complaints every year. Inadequate state resources mean that most confirmed incidents are never taken to court. Civil lawsuits can be very complex and costly, although they may compensate you for damages in the long run.
 
Doing all you can to avoid associating with insurance companies who act in bad faith is the best preventive medicine.
 
You depend on your auto or health insurance to protect your very life and lifestyle. Bad faith acts by an insurer not only rob you of the premiums you have paid, they destroy your long-term security—which is what the insurer was promising all along. Don’t wait until a denied claim threatens your health or financial well-being.
 
Take these precautions regarding your insurance company:
 
  • Research your insurance company’s track record.
  • Examine your policy annually.
  • Consult an attorney about ambiguous policy terms.
  • Review state laws when you review your policy.
  • File any claims according to policy protocol.
 
Keep an Eye on Your Insurance Company
 
How your insurance company does business with others is a good indicator of integrity. Ideally before selecting an insurer, do some research. Ask friends or family members how they were treated in making claims with their providers. Look up information about prospects on the Internet. Check with the National Association of Insurance Commissioners’ Consumer Information Source to search for a company’s complaint ratio.
 
You can and should do those things on a periodic basis even after you’ve taken out a policy. Company management and practices change, and bad faith lawsuits make the news. Perform an Internet search under your insurer’s name every now and then to see if any legal battles have arisen or been resolved.
 
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