Insurance Consultant Lawyer Panama City, FL Insurance Consultant Lawyer Panama City, FL

When you believe you have been the victim in a bad faith insurance situation, you need the help of an insurance consultant lawyer in Panama City, FL from Childress Loucks & Plunkett. Unfortunately, insurance policies are filled with a lot of legal jargon that doesn’t always make sense. Because of this, it is easy for a lot of insurance agencies to follow unlawful practices when it comes to filing claims.

You may be a victim of a bad faith insurance litigation and you may not even know. Here, our Panama City, Florida insurance consultant lawyer explains more about bad faith and the steps you need to follow to file a claim.

What is bad faith in the world of insurance?

Bad faith is simply defined as a dishonest practice done by an insurance policy. When you sign an insurance policy with a company, you are signing a legally binding contract. If either party strays from what its outlined in the contract, then they are acting in bad faith.

It is also important to note that bad faith is commonplace in any insurance industry, from auto to medical to life and business, to name a few examples.

What are some examples of bad faith in insurance?

Some examples of bad faith practices include:

  1. Denying a valid claim with no explanation
  2. Withholding information about a policy or a claim
  3. Increasing or decreasing the price of your policy
  4. Delaying policy acceptance denial
  5. Failure to conduct a proper investigation into the claim
  6. Making burdensome requests for claim documentation
  7. Misrepresenting the law 

Bad faith is a broad term, so if you are unsure if you are a victim of bad faith do not hesitate to contact an insurance consultant lawyer in Panama City, FL for a consultation.

Can my insurance company deny my claim?

It is possible for your insurance provider to deny your claim if you are not in good standing with the agency, if you have not paid your premium, and when the claim is not covered by the policy in the first place.

How Can an Insurance Consultant Help Me if My Insurance Provider Has Denied My Business-Related Claim?

Having insurance as a business owner is a must. Whether it’s insurance for property, professional liability, bodily injury or anything else, you’ll want to be sure that your business, your employees and your customers are covered in case of emergency.

Unfortunately, insurance coverage isn’t always as straightforward as it should be. Policy provisions may not be clear in certain areas, some claims may fall into policy gray areas or your insurer may disagree that a particular claim should be covered. In such cases, your claim will likely be denied. Thankfully, the insurance company doesn’t always have the last word when it comes to coverage. You can appeal the determination or even litigate the dispute. In both cases, it is critical to work with a Panama City, Florida insurance consultant lawyer experienced in insurance litigation. The experienced team at Childress Loucks & Plunkett is here to help you and your business.

Appealing a denied claim

You should have received a written letter notifying you of the denial and stating the justification for it.  With the help of your Panama City, FL insurance consultant lawyer, you can write a formal response appealing the denial. When doing so, you’ll need to reference the specific policy language, the reason that the denial was inappropriate and evidence to support your position.

Claims are frequently denied for: 

  • Administrative reasons (such as failure to file in a timely manner)
  • Policy reasons (such as meeting/exceeding coverage limits or being outside the scope of the policy)
  • Legitimacy reasons (such as the insurer’s suspicions that the claim may be fraudulent)

Your appeal will need to address these concerns directly. Because your insurer has a financial stake in denying your claim, your appeal may prove unsuccessful. At that point, litigation may be the only available remedy.

Filing a lawsuit against your insurer

Insurance coverage is an agreement in contract form. Like all contracts, both parties are required to abide by the terms and do so in good faith. In the case of your insurer, good faith means looking for reasons to cover a claim rather than simply looking for reasons to reject it. If you feel like your claim was unfairly denied or underpaid, you can work with a Panama City, FL insurance consultant lawyer to sue your insurer for breach of contract or bad faith.

Working with an insurance consultant

You’ll want to hire a Panama City, FL insurance consultant lawyer who can help you both write an appeal and pursue litigation, if necessary. Our Panama City, FL insurance consultant lawyer team has the experience, the savvy, the passion, and the focus to help you and your business respond to your claim rejection as effectively as possible. 

What do I need to prove in order to file a claim?

If you can, gather as much evidence as possible. This can include bank statements which show you consistently paid for your insurance premium, communication with the insurance company, and before and after photos if you were involved in an accident which is the reason you filed the claim. Remember, timeliness is key here as there are specific statute of limitations for bad faith litigation proceedings.

What kind of damages can I potentially win?

This is a hard question to predict, as damages vary on a case by case basis. However, in bad faith litigation, it is common to receive economic, personal injury, punitive, and statutory damages to cover the cost of the original claim. 

Do I have to settle for the first settlement offered?

No, you are not legally bound to settle for the first claim that is offered to you. If you think the settlement is unreasonable or unfair, you and your attorney can come up with a counteroffer.

Speak With an Insurance Consultant Lawyer Panama City, FL Residents Trust

You don’t have to deal with bad faith insurance litigation alone, our lawyers are there to help navigate the complex legal system for you. If you have any questions, do not hesitate to contact our office for a consultation. Speak with a Panama City insurance consultant lawyer from Childress Loucks & Plunkett now.