Insurance coverage is considered a contract between the insurance company and the individual or entity covered under the policy. In Florida, insurance companies have an obligation to act in good faith toward their policyholders. When an insurance company fails to act in good faith, it runs the risk of being held liable for coverage in excess of the policy limits.
At the Law Offices of Cytryn & Velazquez, P.A., we will work with you to protect against the wrongful tactics of insurance companies. It is important to understand your rights when dealing with insurance companies because they most often do not have your best interest in mind, even though they act as though they do. Our experienced Coral Springs insurance bad faith attorneys and staff understand that dealing with insurance companies is not a pleasant experience and can cause many headaches.
Call our office now at (954) 833-1440 for your free consultation and let us handle the insurance companies for you.
What is Insurance Bad Faith?
When someone purchases an insurance policy, they do so to guard against potential mishaps that can lead to various financial and other losses. In exchange for paying premiums, the insurer owes various commitments to their policyholder. This includes a duty to provide coverage, uphold the terms of the insurance policy, and pay any valid claims that are covered by the policy. Insurance companies also owe an implied duty of good faith, meaning they are responsible for treating their customers fairly and efficiently.
Unfortunately, this is not always the case. Many insurance companies care more about their bottom line than their customers, so they may attempt to get out of paying settlements by using various tactics to trick or wear down their clients. If your insurance company tries to deny, ignore, or minimize your claim even though it is valid according to the details of your policy, you may be able to file a claim for insurance bad faith.
Examples of Insurance Bad Faith
An insurance company can be found to have been acting in bad faith for numerous reasons that amount to unreasonable or unfair conduct.
- Unreasonable delays in payments of benefits,
- Failure to provide coverage when coverage is warranted,
- Failure to settle a case within the limits of the insurance policy,
- Failure to defend,
- Failure to investigate,
- Unreasonably interpreting policy language,
- Resorting to abusive tactics such as name calling and hanging up on you,
- Making arbitrary demands regarding proof of loss,
- And other actions that manifest unreasonable or unfair conduct.
Please note that just because your insurance claim has been denied does not mean you have been treated in bad faith; only if your insurer goes against the terms of your contract can you claim such.
How an Attorney Can Help
An insurance bad faith lawyer such as those at Law Offices Cytryn & Velazquez, P.A. can help you stand up to dishonest insurance companies, no matter how large or resourceful they appear to be. Our experienced attorneys understand insurance companies’ tricks and how to negotiate with them to ensure you are properly compensated.
If an insurer is found to have acted in bad faith, they can be liable for damages beyond the policy limits, including:
- Statutory penalties,
- Emotional distress,
- Related economic losses,
- Attorneys’ fees, and
- Punitive damages.
To learn more about how we can help you if you have been the victim of insurance bad faith, reach out to us to set up a free, confidential legal consultation. Call (954) 833-1440 or contact us online.
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