Claims Consultant Chicago IL
After suffering a serious loss to your business or property, the circumstances allow you to file a claim with your insurance company. However, even though you have the legal right to do so, and even though your claim may be valid, the responsible party’s insurance company might reject your claim. Alternatively, they might offer a settlement that is significantly less than fair, or drag out the payment process for years. In the meantime, your loss will pile up and you might not be able to afford the cost to repair your property on your own. In these situations, a Chicago, Illinois claims consultant from Childress Loucks & Plunkett may help protect your right to fair compensation and the recovery of your damages.
Claims Consultant – Chicago, IL
When an individual or business invests in an insurance policy, the terms of that policy become legally binding. Unless some element of contract law renders the terms of a policy invalid, both parties to the contract are legally obligated to honor their responsibilities as defined by the policy. At their most basic, insurance contracts generally stipulate that an insured individual or company will pay the provider a certain amount of money. In exchange for that investment, the provider will reimburse the policyholder (subject to certain limitations and limits) if certain specific occurrences result in harm, damage and/or financial loss.
The relationship between policyholder and insurance provider is therefore relatively straightforward. But sometimes, a provider will fail to uphold its responsibilities under the terms of a valid policy. When deliberately unfair behavior on the part of the provider results in harm to the policyholder, a bad faith insurance claim may be filed against that provider. A Chicago, Illinois claims consultant may be able to help guide you through the process of filing a bad faith claim, if you believe that your policy provider has treated your claim unfairly.
Bad Faith Insurance Claims: The Basics
A bad faith claim is grounded in the idea that insurance providers should not be able to deliberately behave in ways that compromise the integrity of their insurance contracts. By unnecessarily delaying payment, rejecting legitimate claims, failing to investigate claims and otherwise failing to behave in good faith, providers compromise the insurance system as a whole. Individual and business policyholders should be able to expect that if a claim is processed according to the terms of a contract that it will be paid in a timely, complete and proper manner. The law recognizes that insurance providers have access to more resources than policyholders and are generally in a position of greater strength. Bad faith claims help to “level the playing field” between providers and policyholders and help to hold policyholders to account when they do not honor the terms of their policies. Working with a Chicago, IL claims consultant can help to ensure that you are treated fairly by your insurance company after you have filed a valid claim.
Legal Counsel Is Available
If you are concerned that your insurance provider has behaved in bad faith, please do not hesitate to connect with a Chicago, IL claims consultant experienced in bad faith insurance claims. Scheduling a consultation with Childress Loucks & Plunkett does not obligate you to take legal action against your insurance provider. But if you take the time to explain your situation to a Chicago, IL claims consultant, you will be able to receive guidance that will allow you to make informed decisions about your situation. It is possible that your consultant may even be able to resolve your situation with your insurer without taking any formal legal action, if this option interests you and is appropriate for your circumstances.
Speaking with a member of our team will take little effort but may open a wide range of options and opportunities. Because your rights as an insured individual or your rights as a business owner may have been compromised in actionable ways by your provider, please consider obtaining legal claims guidance today.
What is a claims consultant?
A claims handler who protects the rights of insurance policyholders who attempt to recover their damages via an insurance claim is a public adjuster. In the area of losses, a consultant from Childress Loucks & Plunkett may advocate on your behalf when an insurance carrier is being unfair or unethical. Our Chicago IL public adjuster may also negotiate with the insurance carrier on your behalf to obtain the maximum possible settlement for your claim.
Insurance companies often have a team of high-priced lawyers who will make every effort to prevent their company from having to pay out high-dollar amounts for victims who have valid injury claims. In this way, the injured claimant can be victimized twice. Our consultant at Childress Loucks & Plunkett makes every effort to right that imbalance and provide justice for our clients. Your public adjuster may represent you in interactions and communications with the insurance company. On your behalf, we may do the following:
- Appraise a monetary value for your damages.
- Prepare a written estimate of your damages.
- Determine if and to what extent the insurance coverage will cover your damages.
- Submit the estimate and other relevant documentation of your damages to the insurance company.
- Negotiate with the insurance company’s representative, which is usually their claims handler.
Do I have to pay a consultant up front?
Usually, no. Under most circumstances, after a public adjuster successfully handles an insurance claim on behalf of their client, they will charge a modest but fair percentage of the settlement award paid by the insurance company. Or, you can hire them on an hourly basis.
When should a business hire a consultant?
If you sustained a loss and intend to file a consultant claim with the insurance company, you may benefit from immediately contacting a consultant. If you have already filed a claim but have not accepted a settlement offer, contact us at Childress Loucks & Plunkett to speak with a an adjuster Chicago IL businesses know and trust. At any point of the claims process, we may step in to represent you and protect your rights, but sooner is better than later. Call us today to discover how an adjuster from Childress Loucks & Plunkett may be able to assist you in getting the maximum compensation you deserve for your injury.
What Can a Business Owner Expect When Suing an Insurance Provider?
As a business owner, you take out insurance policies precisely to protect yourself from costly and unwanted surprises. You expect that your policy will have clear language and easy-to-understand provisions. You rely on the peace of mind that comes with knowing your losses will be covered in case something major goes wrong (a fire, property damage, an accident in a company vehicle, etc.).
Unfortunately, dealing with insurers can sometimes be worse than the problem for which you took out coverage. When insurers attempt to deny or underpay legitimate claims or cancel your coverage without proper reason or notification, they are said to be acting in bad faith. There are ways to fight back, but doing so usually requires the help of a skilled Chicago, Illinois claims consultant. Thankfully, the experienced team at Childress Loucks & Plunkett is here to help.
Can you afford to sue?
Litigation can be expensive, and business owners sometimes need to decide whether the amount of money at issue is worth the costs of a lawsuit. Sometimes, however, Chicago, IL claims consultant teams who practice insurance bad faith litigation will take cases on a contingency basis. This means that you don’t pay any costs upfront and you pay no fees unless you win the case. If you win, your team will be entitled to a percentage of the money recovered. But even if your case isn’t the kind that qualifies for a contingency arrangement, chances are that working with a Chicago, IL claims consultant will be well worth the investment in the experienced guidance and support you’ll receive from our firm.
Depending on the details of your case and where you live, you may be able to recover:
- – All economic losses
- – Money for your own attorney fees
- – Punitive damages as a means to deter the insurance company from acting this way in the future (with you or other policyholders)
Your role in the process
For the most part, your Chicago, IL claims consultant will likely be able to handle the bulk of the preparation, negotiations and trial without your direct participation. However, you will need to provide documents, records, communications with your insurer and any other evidence that may be deemed relevant to the case.
You will also likely need to sit for a deposition at some point, during which you’ll be asked to answer questions under oath. This won’t take place in a courtroom, but your Chicago, IL claims consultant should still be present to ensure that you are not being asked unfair questions by the other side.
Resolving the litigation
Statistically speaking, your case will likely not go to trial, since about 90 percent of cases settle out of court (before trial). While there are definite advantages to settling, you should only do so if the insurance company’s offer is fair and appropriate.
When the Insurance Company Won’t Pay
If you have filed an insurance claim and have done everything you were required to and the company won’t pay, what are your options?
When an insurance claim is denied, there are options. One of the first things you should do is to contact a Chicago, IL claims consultant for help. A claims consultant will work on your behalf, negotiating with the insurance company, and may even file a lawsuit on your behalf if necessary.
Why a Claim May Be Denied
There are several reasons why an insurance may be denied, including:
- – The insurance company disputes the claim and alleges that you are liable.
- – The insurance policy may have a policy exclusion for the situation that resulted in the losses you filed the claim for.
- – The insurance policy may have lapsed because of an issue with a payment not being properly credited, so the policy was not active at the time of the incident.
Insurance companies are required to act in good faith. When a customer purchases a policy, the policy is a contact that the company agrees to honor as long as the customer is paying the premiums. When the insurance company denies a claim without having a legitimate reason to do so, they are breaking the contract. This means you could have a legal claim against the company. A Chicago, IL claims consultant can determine if:
- – The company failed to acknowledge the claim once notified
- – Even though liability was clear, the company refused to settle the claim
- – The company denied the claim without an investigation and/or sufficient information
- – The company attempted to settle the claim for far less than what was reasonable based on the amount of damages and losses suffered
Contact a Chicago, IL Claims Consultant
At Childress Loucks & Plunkett, our legal team has represented many clients in lawsuits against insurance companies whose goal it is to pay the least amount possible in damages. Call our office today to schedule a free case evaluation with claims consultant Chicago, IL clients trust.