Bad Faith Insurance Explained
Your insurance company should act in your best interest and be there for you when you need them. After all, that’s why you pay those big monthly premiums.
The reality is anything but. That’s because insurance companies are motivated by one thing and one thing only: profits. They’re not interested in helping you – only in making you think they’re on your team.
When people get hurt in accidents, that’s when many insurance companies reveal their true colors. They may take any number of unethical and deceitful measures to avoid paying you the compensation you’re entitled to.
When an insurance company goes back on its promises to you, it may constitute bad faith insurance. Here’s what they don’t want you to know.
What Is Bad Faith Insurance?
You purchase insurance to guard against financial loss. In exchange for paying the insurance provider, you expect that they will uphold the terms of your policy and pay any claims covered by it. The insurance company owes a duty of good faith, meaning they will treat you fairly and honestly. But sometimes they don’t uphold their end of the deal.
In an effort to guard their profits, the insurance company may:
- Intentionally misrepresent the language in your policy
- Make arbitrary or unreasonable demands regarding proof of loss
- Delay your claim without justification
- Refuse to acknowledge your claim altogether
- Fail to act quickly after receiving your claim
- Neglect to implement reasonable standards for investigating and processing claims
- Ask you to contribute to a settlement when you shouldn’t have to
These actions are not only unprincipled, they’re potentially grounds for a lawsuit.
Fight Back With Morgan & Morgan
The insurance company may try to stop you from getting the compensation you deserve, but they can’t stop you from calling us.
At Morgan & Morgan, we’ve been at this for more than three decades. In that span, we’ve seen it all: insurance companies denying claims without valid reason, deceiving clients by misrepresenting policy language, and just about every other trick in the book. But our attorneys are well-equipped to handle these tactics. We can review your policy to ensure you receive the compensation you deserve.
Find out how America’s biggest personal injury law firm can help you by scheduling a free, no-obligation case evaluation. It costs nothing to hire us, and we get paid only if you win. Contact us today.