Insurance Bad Faith Attorney in Colorado Springs
You believe you have peace of mind because you have insurances in place to protect you, whether the policies are for your automobile, home, health, or to protect your business. That insurance policy is a contract that basically says your carrier will pay for covered damages if something happens that results in losses or damage.
So what can go wrong? It can be a personal or business disaster when your insurance company fails to live up to its legal obligations, under the terms of your policy.
Insurance companies have a duty to operate in good faith and with fair dealings with their policyholders and claimants. This is inherent in their contractual agreement with you. Occasionally, however, insurance companies fail to honor those contracts, and instead engage in bad faith practices. When this occurs, the harmed party has the right to sue the company.
Bad faith actions can set you back--physically, financially, and emotionally. Do not just give up if you are dealing with intimidating insurance company representatives that are acting unreasonable or refusing to pay when they should. At The Bussey Law Firm, P.C., our Colorado Springs accident lawyers know what it takes to hold these companies accountable, and can help you to pursue a bad faith claim.
Some signs of bad faith include, but are not limited to, the following:
- Denying coverage with no basis;
- Not keeping the claimant informed on a timely basis, especially with regard to information that is germane to the claim;
- Not carrying out an investigation in a reasonable amount of time;
- Taking an unreasonably long time to deny or pay the claim;
- Once liability is clear, not attempting to settle the claim with a fair and reasonable offer;
- Making an offer that is far below the real value of the claim, when liability is clear;
- Not disclosing policy limits.
Your case is not bad faith based upon a disagreement between you and the adjuster on some aspect of your claim. Claimants may think that a settlement is worth more than it really is, or there may be some contention about liability. On the other hand, it could be bad faith if the adjuster settled the claim for a very low amount and would not give you the necessary information that formed the basis of that decision. You do have rights, and a refusal to pay a settlement, or a low offer may be an act of bad faith.
A case of bad faith could mean a settlement not only for breach of contract by the insurance company, but also an additional tort claim as well. A tort claim opens the door to suing for punitive damages, and this can occur when the bad faith actions of the insurance company are especially harmful. This can result in a settlement that exceeds the policy limits of the carrier's policy.
You have rights. If you think the insurance company acted in bad faith regarding your claim, we can help. We will get the facts, and if we determine that the carrier acted in bad faith, we will take aggressive and effective action to pursue the maximum compensation possible.
Call The Bussey Law Firm, P.C. today at (719) 475-2555. We offer a free consultation to review and evaluate your case and your legal options.