When you purchase insurance for you, your family, or your business, you are entitled to financial and legal protection from your insurance company. These basic protections are included in the bargain with your insurance company. While your insurer is legally contracted to prioritize your interests, the pressure of increasing corporate profits through cost-cutting on claims or lack of resources may constitute “bad faith” and unfair dealing by your insurance company.
If your insurance company is not acting in good faith, and is elevating its own interests over yours, you have the right to file a bad faith insurance claim against them. The attorneys at Ladendorf Law have helped others in similar situations as you. Confronting your own insurance company for mistreatment may seem difficult — and it often is. Insurance companies use many different tactics to confuse, and sometimes outright mislead, policyholders. Do not let your insurance company take advantage of you by offering you a settlement that is a mere fraction of the compensation you deserve, or withholding your policy limits when the value of your case clearly exceeds those limits of coverage. Contact Ladendorf Law to speak with a skilled insurance bad faith attorney.
What is a “Bad Faith” Insurance Claim?
When a consumer of insurance protection purchases a policy from an insurance company, a contract is formed that governs the relationship between the insurance company and the policyholder. Among the many responsibilities required of the insurer is a dutyto act in good faith. This means that both the insurance company and the policyholder must uphold the written obligations required in the insurance policy. When an insurance company does not conform to the dictates of its policy, the insurance company may be liable for acting in “bad faith” and/or committing an unfair claims practice under state law.
Bad faith insurance claims can occur when an insurer withholds benefits without justification. If your insurance company is not handling your claim (either paying it or denying it) within a reasonable period of time, that would be an example of the insurance company acting in bad faith.
Do I have a Bad Faith Insurance Claim in Indiana?
Under the bad faith law of Indiana, there are numerous responsibilities an insurance company is required to fulfill toward its insured. Below is a list of unfair claims and settlement practices that your insurance company may be engaging in. You may have a bad faith insurance claim against your insurance carrier if they have:
- Failed to disclose policy limits and/or applicable exclusions;
- Failed to complete a thorough investigation of your claim;
- Failed to pay the claim without a thorough investigation;
- Failed to deny or pay claim within a reasonable time period;
- Failed to deny or confirm coverage within a reasonable period of time;
- Have unreasonably or unjustifiably denied you coverage;
- Failed to communicate important information to you;
- Failed to offer you a substantial, fair settlement — true to the value of the claim;
- Failed to communicate a reasonable explanation for claim denials;
- Failed to respond in a timely fashion in regards to urgent, time-sensitive demands;
- Made an unfounded refusal to pay policy proceeds;
- Deceived the insured; and/or
- Exercised an unfair advantage to pressure an insured into settlement of a claim.
If your insurance company has failed you in any of the ways listed above it would be in your best interest to contact an attorney experienced in prosecuting bad faith claims against insurance companies. Insurance bad faith claims involve difficult issues of proof and documentation, even in the seemingly obvious cases. Therefore, it is critical that you act on a suspicion of unfair dealing by contacting an attorney for consultation.
If you have suffered damages or hardships on account of the actions of your insurance company, you may have a claim for insurance bad faith. Contact the Indiana insurance bad faith lawyers at Ladendorf Law to discuss the circumstances of your predicament, discover your options, and address the potential of legal representation against the insurer. The personal injury lawyers at Ladendorf Law pride themselves on their ability to help their clients get the full compensation they deserve. Contact us today for a free, confidential consultation.