The moment a client signs up for an insurance policy, they are signing into a contract that will bind them with the insurer. This is to assure them the peace of mind that they need to have, knowing that when they fall ill, get injured or incur a loss in property damage, that insurer will settle the loss.
However, many times, insurance companies in Tampa FL deny genuine claims or end up paying an amount of money that is much less than what is capable of compensating the value of the loss. In fact, insurance disputes arise because the companies responsible for insuring their client’s health or property are not fulfilling their part of the contract. But to level the play field, smart clients often seek the services of an Insurance Claims Attorney Tampa FL to help them solve the matter and get the compensation that are due.
The Reason Why a Legitimate Insurance Claim Can Be Denied
There are certain reasons why insurance companies in Tampa FL are likely to deny a genuine claim. For one, the less they compensate policyholders, the more profit they will have in their bank accounts. That’s the reason they will always strive to pay less or even deny a claim altogether even when it’s a genuine one. It is in their best interest to settle the claim fast and for as little as possible or simply deny the claim altogether.
Continued Denial of Claim and Operation in Bad Faith
Insurance policies are full of loopholes that can be exploited to make getting compensated a difficult endeavor. Again, most insurers know that too many people are reluctant to pursue legal redress in the event that a dispute arises. Most people know that the legal system is as slow as a snail, and so if the damage isn’t significant, they opt to let go with whatever compensation they receive.
But the problem with this approach is that a client will continue paying premiums for which they don’t fully benefit. Premiums are supposed to be paid only when the client can receive full benefits in the event that an accident or loss occurs. This is not always the case. So the best way to approach the issue would be to take the insurance policy and other documentations to an Insurance Claims Attorney in Tampa FL for consultation. Once these records have been received, your attorney will review them to establish whether or not the policy covers the damage. They will also try to establish if the insurer has acted in bad faith.
Low-Balling Is Still an Act of Bad Faith
When settling a claim, the majority of the insured agree to go with a low compensation value for the damage they’ve suffered. But this is still considered an act of bad faith since all insurers have an obligation to deal fairly with their clients. Low-balling is therefore not a fair practice, and can form the basis of taking the case to court.
What a Victim Can Recover Once the Case Goes To Court
The court will establish whether the victim was wrongfully denied the insurance claim or if the claim was settled in bad faith. And if this is the case, the victim will be eligible to receiving the full benefits of the policy in accordance with the damages incurred. In addition to this, consequential losses may be compensated as a result of the emotional distress a victim suffers depending of the specifics of the case.
Hopefully, you will never be in a position in which you need the legal services of a Insurance Claims attorney in Tampa, but in the event that you do, please give Hoag Law Firm a call at (727) 231-5420 or complete your online Free Case Evaluation. A free consultation can help you understand your rights. With honest advice and an experienced Tampa personal injury attorney at your side, you can recover the largest possible settlement and get back to living your life.