Buying insurance is a necessary expense, as most people need homeowner’s insurance, health insurance and car insurance. When you pay your premiums month after month, you buy protection from financial loss. If you are in a car accident, need medical services or experience damage to your home, your insurance company should pay for your covered losses.
Unfortunately, insurance companies sometimes deny or delay paying claims; the insurer may make a low settlement offer, cause unnecessary delays or deny legitimate claims without valid reason. When insurance companies engage in these behaviors, they are breaking their contract and the law. A Colorado Springs insurance attorney from Levine Law can help you negotiate with the insurance company and obtain payment for your covered losses.
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Insurance Companies and Bad Faith Claims
Any time you purchase an insurance policy, you enter into an insurance contract. This contract guarantees you certain rights, including the right to payment of covered claims. Your insurance company’s legal obligations are outlined in the insurance policy. However, the policy also carries an implied promise called an implied covenant of good faith and fair dealing. Under this covenant, your insurance company makes an implied promise to comply with the obligations in the policy and make a good faith effort to pay covered claims. If your insurance company fails to comply with its obligations under the insurance policy, then it is acting in bad faith.
Examples of bad faith conduct on the part of the insurance company include:
- Refusing to pay out an uninsured or underinsured motorist claim when you have a legitimate right to damages after a car accident;
- Denying a legitimate claim for damage to your home or for necessary medical procedures that are covered by your homeowner’s or health insurance;
- Making an unreasonably low offer that does not sufficiently cover your losses;
- Engaging in delaying tactics or other dishonest methods to avoid paying out the proceeds of an insurance claim.
When your insurance company engages in unfair practices, you can file a bad faith claim in court. If you can prove the insurer is acting unreasonably, you can secure payment for your claim and receive additional compensation for the insurer’s wrongdoing. In some cases, the compensation that you receive will even exceed the limits of your insurance policy.
These bad faith laws are designed to protect you from insurance company abuses. However, enforcing your rights is a technical and complex legal process and you’ll need a top-notch legal advocate to help.
Levine Law Has Experience Litigating Bad Faith Claims
The Colorado Springs personal injury attorneys at Levine Law know how frustrating it can be when your insurance company does not pay or fulfill their obligations under your insurance policy. We have extensive experience negotiating with insurance companies and pursuing bad faith claims. We will stand up to the insurance company on your behalf and fight for you to receive the maximum compensation possible under the law.
To learn more about how our insurance bad faith lawyers can help with your bad faith insurance claim, give us a call or contact us online today.
