Whenever something bad happens, many individuals assume their insurance company will be with them and ready to assist them to solve their issues and compensate them for their losses. However, this is rarely the case. Insurance firms earn money by paying out as little as possible and occasionally withholding further information for which policyholders are eligible. The insurance experts at Foltz Law PA in Miami can help you get the payment you deserve.
While insurance firms must operate in “good faith” and treat their customers fairly, many of their customers are under-compensated for their claims. If you have insurance, you are entitled to the full reimbursement for your losses as specified in your contract, whether it be auto accident insurance, homes insurance, flood insurance, or any other type of insurance. Foltz Law PA's Broward insurance litigation attorneys in Florida will contest the insurance company on your behalf to get you the money you deserve.
When you are getting an insurance policy, you are entering into an agreement that both parties must follow. You are responsible for paying the premiums when they are required. On the other hand, the insurance provider is required to pay all genuine claims you make under your policy.
If you claim with your insurance carrier, they are obligated by law to handle and pay genuine claims in a fair and timely manner. If the insurance carrier doesn’t follow its obligation fairly and lawfully, it is considered to be acting in “bad faith”.
When an insurance company acts in bad faith, it:
Most insurance firms make huge efforts to limit or avoid their obligation for homeowners' insurance claims. For instance, in flood damage cases, Insurers have been known to claim that they are not liable for damage caused by floods rather than wind. They may undervalue your losses to reduce their compensation. Health insurance, vehicle insurance, and other plans may be subject to bad faith insurance claims.
Insurance firms are taken more seriously since they are in a position of responsibility. You may be able to collect up to three times the value of your insurance claim if you can show that the insurance provider engaged in bad faith.
Since your insurance policy is an agreement, you are entitled to certain rights as a policyholder. If the criteria outlined in the policy's agreement are met, your insurer is obligated to pay the compensation as long as you keep your promise to pay your premiums. Insurance firms are required by law to cooperate with their policyholders in good faith.
If your insurance claim has been denied, you should call Foltz Law PA, an experienced insurance litigation law firm in Florida that specializes in bad faith insurance claims. Since insurance bad faith is such a specialized subject, you must select the right kind of experienced attorney. You will have a clearer understanding of the essential next actions after our lawyer has reviewed your unique situation. Contact us today to schedule a consultation session.