Insurance Bad Faith Lawyers

 After you suffer an auto accident, your insurance adjuster might downplay the cost of your claim or try to say that you don’t have a claim that’s covered by the policy at all. Having to deal with an insurance company operating in bad faith can be exhausting, especially if you’re already having to deal with the aftermath of a car crash or similar accident. Oftentimes, these companies will refuse to pay out, even though you know your insurance claim is legitimate, they treat you like the bad guy, like you’re being greedy or that you don’t know about your policy and made a mistake.

If your insurance company is denying a rightful claim, a NJ insurance bad faith lawyer can help you find out your rights and work to get you the compensation you deserve. It’s important to understand that the adjusters at these insurance companies have mandates to operate in a certain way.

They will almost always try to minimize your claim or say that you don’t have a claim at all. This is a deliberate tactic to keep money in the hands of the company instead of the people they promised to protect, and it’s a widespread industry practice. Insurance companies are not looking out for your interests, but a lawyer on your side will.

When an insurance company acts in bad faith, meaning that they entered into a contract with you offering a service they knew they would try to deny you, they can be found liable, not only for the money you should have received, but also further punitive damages as a legal consequence for their bad faith.

Bad Faith Insurance Tactics

Insurance companies will employ a number of tactics to try to reduce or deny your compensation. They may:

Delay your claim: they may be slow to process or resolve your claim while they work to try to reduce or deny it, meaning you can’t access the money you need to get your life back on track

Perform an incomplete investigation: as it’s in the insurers interest to deny your claim, they may end an investigation early if it supports that cause, but they can be held responsible for refusing or underpaying a claim based on an incomplete investigation

Making threats: especially corrupt insurance companies may threaten you with legal action for refusing to accept their low-ball offers or for filing a claim at all

Refusing to make a reasonable offer: there are law in place to ensure that insurance companies offer you a fair settlement, this is to prevent them from taking advantage of people’s lack of expertise and making extra unearned profits by shortchanging their customers.

Insurance companies use these tactics to prevent their customers from getting the value that they already paid for with their premium payments. These companies make millions of dollars off of the premium payments their customers make. They then take the revenue from these premiums and invest it, meaning that they profit even further off of the assets.

They do everything in their power to limit the payouts they give, so that they can keep high profit margins. The effect this has on their customers is that they are paying for a product believing that they’ll be protected, only to find out that the insurance company that they trusted is preying on them.

New Jersey Insurance Bad Faith Lawyers

If you believe an insurance company is taking advantage of you, you should contact an experienced insurance lawyer as soon as possible. The insurance company is already doing all that they can to limit your claim, and you can be sure that they have attorneys on their side, you should too.

Richard Hollawell has insider knowledge of the insurance industry and will fight with tenacity to hold companies accountable and get you the settlement you deserve. Contact our team at 1-800-681-3550 or use the online form for a free consultation of your case today.