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Insurance Bad Faith FAQ

Insurance Bad Faith FAQ

Los Angeles Bad Faith Insurance Questions

You pay your insurance premiums each month with the understanding that when accidents occur, your claim will cover the damages. However, you may find that when you go to collect need funds, the insurance company has denied your claim. The reality is that insurance companies are businesses and may sometimes put profits ahead of their obligations to the insured.

The insurance claims process can be tremendously complicated and below, we answer some of the most common questions about bad faith insurance and what you should do if you think you are being treated unfairly by an insurance company.

  1. What is insurance bad faith?
  2. What can I do to support my Claim?
  3. How much is my claim worth?
  4. I have been offered a settlement. Should I accept it?
  5. When can an insurer deny a claim?
  6. What can I do if my claim is denied?
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How Much Is a Bad Faith Claim Worth?

With the insurance company attempting to devalue your claim, it can often be difficult to gauge what a settlement should look like. While this is among the most common questions that our firm is asked, the frustrating answer is, it depends. Accurately evaluating compensation for damages can be the most complicated part of the insurance claims process. Often, as a case unfolds and additional information becomes available, the potential value of a claim can fluctuate. However, in the case of bad faith claims, victims can typically seek restitution for the initial damages as well as any resulting losses from the insurer’s actions.

I Have Been Offered a Settlement. Should I Accept?

You are not required to accept an offer that you believe is below what you need to compensate for your damages. In many cases, the insurance company will make the first offer with the expectation that negotiations are likely. As it can be difficult for the average person to predict what a fair settlement will look like, it is best to consult with an attorney before entering into negotiations or accepting an offer. When the negotiation process fails altogether, litigation may become necessary.

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