What Can I Do If My Insurer Commits "Bad Faith"
When we purchase insurance we are signing a contract.
This contract stipulates that you pay a premium to an insurance company, and should a specifically covered circumstance occur, your insurance company pays you a specified amount to cover your damages.
But what happens when you file a legitimate claim and your insurance company refuses to hold up their end of the bargain?
When faced with an insurance company that is withholding promised benefits, there are two options for action.
Option #1 – Try to work with the insurance company to negotiate a claim. This can be a long and tedious process and insurance companies are professional negotiators, so you might consider consulting with a bad faith insurance lawyer.
– Hiring an experienced insurance dispute attorney
and suing the insurance company
for your claim. The cost of a trial, especially when the insurance company is aware that they are in breach of contract, is sometimes enough leverage to make them settle quickly and out of court.
The most important thing to remember is that you should not give up. If your insurance company is not paying a claim that is covered by your policy, they are violating their contract with you.
If you give up on your rightful claim, the insurance company just gets more money in their pocket while you are out both the money you were entitled to and the money you invested in your premiums.
Consulting with an bad faith insurance lawyer can help you decide if you have a claim and how to proceed with filing a lawsuit, entering into negotiations, or other options to get you the money you deserve.
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