Bad Faith Insurance

STUCK WITH A BAD FAITH INSURANCE?

Mar 1, 2022 | Personal Injury

The article was Last Updated on

WHY DO WE GET INSURANCE?

Most of us buy insurance to protect ourselves and our loved ones from the various types of losses like economic losses, personal injuries, damages to our property, vehicular accidents, or the off chance that we are the intended targets of a lawsuit.

WHAT THE INSURANCE COMPANY OWES US.

Once we start our insurance and start paying the installments, the insurance company will owe us a certain number of things. These obligations include responsibility for all the types of coverages for which we have paid premiums the duty to act on any situation according to the terms of the policy. If there is an actual and valid claim, the company owes us to pay that claim according to the policy. Apart from these obligations, the insurance company also owes us to act in good faith on our behalf and to deal fairly.

WHAT IS BAD FAITH INSURANCE?

Sadly, claims that we have with the insurance company are not always fulfilled. There have been cases where an insurer has refused to act according to the terms of the policy or failed to uphold its duties, which it promised in the policy in a fair and honest manner.

HOW DO INSURANCE COMPANIES SHOW BAD FAITH?

Some insurance companies act in illegal and immoral ways to protect their profit. They start deceiving the public and come up with confusing and miscalculated language for their policy. Also, they create confusing official records to get out of paying the claim. Additionally, they may use diversionary tactics and unreasonable delays so that the claim will not be resolved. Another way that they deceive the insured is by offering a far lesser amount of settlement than the actual claim. These are some ways that insurance companies try to protect their money.  However, the insured can protect themself by bringing a bad-faith lawsuit against the insurance company and recovering damages.

HOW ARE THE DAMAGES CALCULATED?

In bad faith insurance cases, the damages are determined not only according to the losses of the insured but also according to the wealth of the insurer.

REASONS FOR A BAD FAITH LAWSUIT.

There are several reasons why an insurer can be sued with a bad-faith lawsuit. These can range from not giving the proper and promised coverage to trying to escape negotiating a good faith settlement. Below are some of the reasons that result in the insurance company getting sued:

  • Denying promised insurance coverage.
  • Not keeping the claimant in the loop on purpose.
  • Not conducting a proper investigation into the claim.
  • Denial to pay the claim.
  • Not paying or refusing the claim within the allotted time period.
  • Not confirming the payment during the allotted time period.
  • Knowing that liability is clear but still refusing to settle for a fair and reasonable price.
  • Offering a comparatively smaller settlement than the actual claim’s value.
  • Not initiating the settlement negotiations for the claim.
  • Not setting up a time limit.
  • Using threats.
  • Withholding sensitive information like policy limits.

WHAT TO DO IF YOU HAVE A BAD FAITH CLAIM

If you think you have a bad faith claim against an insurance company, then you need immediate consultation. You need to choose a lawyer with expertise in bad faith insurance claims. This will ensure that you have a person on your side who knows how to tackle these situations. We, at Walker Texas Lawyer, have been dealing with these cases for a long time. We can help you with your claim and protect you from these deceptive techniques and tactics.

CONTACT HOUSTON’S PERSONAL INJURY LAWYER, WALKER TEXAS LAWYER FOR HELP

For more information, contact Houston’s accident law firm of Walker Texas Lawyer by calling (713) 552-1117.

Walker Texas Lawyer
3100 Timmons Ln Suite #401
Houston, TX 77027

Walker Texas Lawyer – Pasadena
4008 Vista Rd Suite #202B
Pasadena, TX 77504

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Walker Texas Lawyer is located in Houston, just off the southwest freeway near the corner of Edloe St and West Alabama St. We serve clients throughout Texas. Injured in a car, motorcycle, offshore, or industrial accident? We can help you get the compensation you deserve. The following are some areas we serve:

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About Walker Texas Lawyer

James Walker - Walker Texas Lawyer James Walker is a Personal Injury Attorney in Houston, Texas. He has over 40 years of legal experience and has helped over 25,000 clients. This means he has demonstrated his extensive knowledge of legal procedures. He knows how to handle insurance companies. If insurance companies refuse to give you a fair shake, they will take the insurance companies to court. He knows the law inside and out. He knows what he’s doing.

Walker will try to settle your case without going to court. But if that doesn’t work, he is ready and prepared to take your case before a judge. He is Houston’s Personal Injury Lawyer for a reason; he will fight for you, seek the maximum compensation on your behalf, and make sure you get what you deserve after an accident.