Bad Faith Insurance Lawyers
What is “Bad Faith” Insurance?
The insurance business is founded upon a very basic deal: the customer provides monthly payments or yearly premiums, the amount of which depends on the customer’s risk factor, to the insurance company in exchange for significant financial assistance in case something goes wrong, such as an accident. The insurance company initially wins out since they are receiving guaranteed payments from the customer to provide protection in an event that is not guaranteed. This is the fair tradeoff between the two parties.
However, some insurance companies do not always respect this tradeoff. They either refuse to hand over a full and fair settlement or deny payment altogether, although the claimant is entitled to it. This is considered “bad faith.” Such wrongful conduct is in relatively popular practice because many people do not fight claim denials, being unaware of their rights, all while the insurance companies profit.
What are Some Signs of Bad Faith Insurance in Florida?
An insurance company may be acting in bad faith if they are:
- Delaying a close investigation of a claim
- Presenting skewed interpretations of the policy
- Refusing to provide an adequate settlement
- Terminating a claim that should have been paid
- Delaying payments
- Under-settling or low-balling claim payment
Is My Insurance Company Allowed to Deny My Claim?
Yes, only if you have violated the terms of your contract, or if the claim you have filed is fraudulent or not in accordance with the terms of your policy. You must be able to prove that your insurance company’s conduct was egregious and dishonest in order to establish a valid bad faith lawsuit.
What Can I Recover in my Insurance Bad Faith Lawsuit?
In addition to the insurance policy’s benefits to which you are entitled, you may recover consequential damages, such as lost wages, attorney fees, and even emotional distress. If your insurer committed flagrant, intentional, and/or gross misconduct, you may recover punitive damages, as well.
Where Can I Find a Dependable Insurance Dispute Law Firm in Florida?
If you are currently facing problems with your insurance company, you should get in touch with the knowledgeable insurance claim attorney at Farah & Farah. We will help you fight back against their underhanded tactics and bring them to justice through the use of effective legal arguments and supporting evidence. For answers to any questions regarding your case, please call our office at 877-245-6707.