Protecting Yourself from Insurance Bad Faith
Life is unpredictable. Sometimes, the surprises it offers can be advantageous. Other times, these surprises can be bad news. There’s no way to predict if you’re going to be in a car accident, fall ill, or if you’re going to find your home engulfed by fire. The only way to protect yourself from these accidents is to ensure that you have a reliable backup plan. For many, that safety net is having a reliable insurance policy. Unfortunately, in some occasions, these insurance policies don’t always pan out as planned.
As pointed out by Evans Moore, LLC, there are some insurance companies that, instead of providing the best options for their clients, do what they can to cut corners and limit their own losses. These insurance companies fail to follow through with the benefits they promised their policyholders, leaving them cheated out of the higher premiums they’ve paid for. Those expecting to receive payments that can help them out of troubling situations are often given benefits that are of less value than their owed. Such dodgy practices are known as insurance bad faith and are considered unethical and punishable by law.
Specific instances of insurance bad faith include delayed and denied claims, reduced claims, and insurance fraud. Those that fall victim to such practices might feel discouraged, but it’s important to know that insurance policyholders have rights protected by law. While resolving cases of insurance bad faith can seem complicated, they might be worth pursuing in order to deter companies from fraudulent behavior in the future.
If you believe that you have fallen victim to insurance bad faith, do not hesitate to seek proper legal counsel to for more information. With the assistance of an experience lawyer, you can learn what action to take in order to hold your insurance provider accountable for their illegal practices.