FAQs on bad Faith Insurance
While making your mind for getting an insurance and researching on the same, you may get to the know the term ‘bad faith insurance’. This is something worst an insured person can face from any fraudulent company in the name of insurance. There is a law against the bad faith insurance and you can file for it if anything unpleasant happens to you. You may need to contact an efficient bad faith insurance lawyer to fight the case against the fraud company to get you the claim as soon as possible.
Hopefully, the frequently asked questions will help you understand the whole concept better:
What is bad faith insurance?
To define legally, it can be said that the insurance policies are simple contracts between the insurer and the insured. They need to abide by the contract terms under the state and federal law. Any breach of the contract may make them alleged under the law and the consequences can be compensation for the conned party. If an insurance company does anything beyond the contract and disapproves the claim on no valid ground, they can be tagged as bad faith insurance.
Who can claim it?
The insured person wouldn’t get the claimed amount after an accident or similar incident if the company is fraudulent. There can be two types of circumstances. Often companies try to make money by denying a valid claim of an insured person. It is also noticed that they trick them with vague language of the policy where the coverage areas are unclear. On the other hand, the insurance may fail to clear your claim. In that case, you can be asked for the proper documents and all just to delay it. They can be negligent to investigate and respond to the filed claim. You are eligible here to prove that the benefits of the policy are due, and the delaying is unreasonable. Your bad faith insurance lawyer can make a successful bad faith for you in this case.
What are the compensations?
Recovering from the claim of bad faith, you can get contract damages or the money under the policy terms, tortious damages including economic and non-economic damage and maybe, punitive damage to deter further similar conduct.
You may have more queries regarding the bad faith insurance, you can take your time to ask for those to the professional Bad faith insurance lawyer of The West Law Firm. A proper guidance and handling of the case in the best way is what you can expect from them.