After an accident, medical expenses, rehabilitation expenses and automobile damages can quickly begin to pile up. If you own insurance, you trust that your claims will be handled quickly and efficiently, so you can continue to focus on your recovery. Unfortunately, during this time of crisis, many insurance companies fail to uphold their end of the agreement. When this happens, your insurance company is said to be acting in “bad faith” and may be acting illegally.
An insurance policy is essentially an agreement or contract between you and the insurance company. If you pay your premiums and keep your policy in good standing, they are obligated to uphold their end of the contract. If they unreasonably deny your claim or prevent you from obtaining reasonable compensation, they may be found guilty of bad faith practices and YOU may be entitled to compensation.
An insurance company may be guilty of bad faith insurance practices if they fail to investigate your claim, refuse to settle a claim, fail to adequately reimburse you, delay your payments unnecessarily, or unreasonably deny your claim. Each of these situations is a breech of contract and Colorado law is on your side.
Your insurance company has a responsibility to you—their client— to negotiate with third parties on your behalf and with your best interest in mind. Unfortunately, insurance companies also have responsibilities to their shareholders to keep their costs low and their profits high. As a result, they may attempt to negotiate claims that best suit their company’s interests—-not yours.
When this happens, it is important to know that the law is on your side. Contact a Colorado Littleton Bad Faith Attorney immediately to review your case. Your attorney will be able to determine if you are able to sue for breech of contract, breech of fiduciary duty, bad faith or even a violation of the Colorado Consumer Protection Act. If your insurance company is found guilty, you may be entitled to up to THREE times the amount of benefits currently owed to you.
If you believe that your insurance company has denied your claim unreasonably and that they may be guilty of bad faith practices, it is important to contact a Littleton Colorado Insurance Bad Faith Attorney immediately. Insurance companies waste no time in protecting their interests and often have large teams of attorneys on their side. As a result you need an experienced Colorado Bad Faith Lawyer with an extensive knowledge of Colorado’s insurance laws on yours!