ALDGPC New Year’s Resolution: Beating Bad Faith Insurance

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Though we normally feature guest posts on our site, we wanted to take the first post of 2020 to give a few tips to our readers who regularly struggle with insurance issues. 

Insurance companies acting in bad faith is nothing new, but it may be something you’ve never heard about or experienced, and hopefully, you never have to. But just because you’ve never experienced an insurance agent acting in bad faith, doesn’t mean you shouldn’t be prepared to handle one.

We spoke with The Kindley Law Firm to get a better understanding of what it means for an insurance company to act in bad faith, how you can avoid this happening to you, and the steps you should take if your insurance company does handle your claim in bad faith.

So first, let’s take a look at what some examples of bad faith are, given that you may not have any idea what we’re talking about.

When you file an insurance claim, whether it be a car insurance claim, a life-insurance claim, a short-term disability claim or any type of insurance claim, the insurance company has a responsibility to handle your claim fairly. However, there’s a big difference in simply not being entitled to a payout and being entitled to one but having the insurance company screw you over. 

Here are some ways insurance companies have been known to act in bad faith:

  • Delaying your settlement
  • Improperly investigating your claim
  • Making threats against you
  • Failing to explain the terms of your policy accurately
  • Refusing to make a fair settlement offer

Unfortunately, there isn’t much you can do to avoid an unscrupulous insurance adjuster, but you can avoid being the victim of one if you have legal representation. This is because your attorney should have a unique insight into these bad faith insurance practices and should never let you settle for less than you deserve.

If you suspect that you have been a victim of an insurance adjuster acting in bad faith, you can do something about it. First, consult an attorney. Your lawyer can take a look at the case to determine if bad faith practices occurred. 

Next, if it is determined that the insurer inappropriately handled your case, your lawyer can use this information to negotiate a reasonable settlement from them. If the insurance company still fails to provide you with the settlement you’re entitled to, you can bring them to court for the compensation you deserve. 

Insurance companies act in bad faith to protect their own profits, but in 2020, don’t let a large corporation take advantage of you at a time when you need the money the most. 

 

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