Everything to Know About Insurance Bad Faith
People depend on insurance companies to be there when they need the aid the most. It may be a car insurance for a car accident or a medical insurance for a serious injury. After all, people do not pay for insurance premiums every now and then because they feel like it. They do this because they know that they will be needing their help soon when events happen.
But sadly, many companies are not doing their responsibility when the unthinkable events happen. They are looking for loopholes for them not to be bound on the certain due responsibility, When these insurance companies are wriggling their way out of the contract, they are acting in bad faith.
Legally speaking, insurance bad faith is “describes a tort claim that an insured person may have against an insurance company for its bad acts.” In countries like United States, insurance companies are bound to deal fairly and do they responsibility in good faith to their customers. It is known duty of every insurance companies to do such performance to their customers. When an insurance company does not comply with this duty, they can be sued with tor claim and breach of contract claim. Insurance companies can be sued to civil wrong doings aside from the fact that they not uphold their end of the bargain, in other words.
The insurance will be complied to pay for damages because of bad faith aside from the original responsibility they opt to perform, in the end.
The kinds of insurance carriers that can be held liable when acted in bad faith are health insurance, auto insurance, life insurance and long term disability insurance. Every type of insurance carrier has the duty to its policy holders to honor their agreements and to act in good faith. Trying to reason out to be excuse of their duty is acting in bad faith and ca be sued because of this.
An insurance company that acts in bad faith is liable to pay for compensation for the emotional and financial distress it cause. There is a need for a high quality lawyer to calculate the damages for you. This lawyer will help you with everything about the responsibility of the insurance company and to bring the case to court if needed.
Take an immediate action if you look on the policy and realized that you are not given with a coverage you should receive. Do not leave this thing behind and look for a qualified lawyer for you.