When the unthinkable occurs, many people have insurance that they can turn to for financial help. In reality, though, recovering compensation from your insurance company can be difficult.
If an accident causes harm or results in substantial damage to property in Yonkers, there are often multiple insurance policies that can be utilized to provide coverage. It requires a comprehensive understanding and experience of how insurance coverage works. Even if you are entitled to payment, your insurer might fight you. Thus, it is vital to keep all relevant information and take prompt action regarding your coverage. Unfortunately, many disputes occur when the victim’s insurer acts in bad faith.
Call The Martello Law Firm at (914) 685-6950 to speak with our civil attorneys and receive your free case review.
Insurance Claims Disputes in Yonkers, NY
It is typical for insurance companies to ask for more information before paying out the full compensation owed. Of course, this often leads to disputes between the insured and their insurer. That is why we suggest working with our experienced civil lawyers, who can effectively communicate with insurers and negotiate a fair settlement. While insurance companies are legally required to act in good faith when handling claims, they are not obligated to automatically pay out claims without question.
Given their extensive knowledge of insurance policies, experience with various types of losses, and access to expert witnesses who can challenge your account of events, it is natural for insurance companies to require additional evidence or time to investigate your claim before making a decision.
There are various reasons why an insurance company might dispute a claim. Some of these reasons might include a lack of sufficient documentation after a loss, suspicious behavior during the time of the incident, substance use at the time of the accident or damage, failure of the insured party to cooperate with the insurer, and others. However, more often than not, a claim dispute arises because the insurance company is acting in bad faith.
Bad Faith Insurance Disputes in Yonkers, NY
When you choose to purchase an insurance policy, whether it is for life, disability, health, property, or any other type of insurance, you are making a contractual agreement with the insurance provider. By paying your monthly premiums, you agree that the insurer will provide you with the benefits that you are entitled to upon the occurrence of a triggering event.
In return, the insurer agrees to act in good faith and with fairness. This means that the insurer is committed to objectively evaluating your claims based on scientific evidence, policy language, and the law and will not engage in any fraudulent activity to prevent you from receiving the benefits you deserve.
Bad Faith Practices by an Insurance Company
Insurance companies in Yonkers have a duty to defend the insured party, but they often try to find ways to avoid paying for coverage and engage in practices that are considered bad faith actions, which violate their obligation to their policyholders. Despite the strong bias in favor of finding a duty to defend, these bad-faith practices can harm policyholders.
It is important to know that bad faith actions can come in many forms, including but not limited to tactics like failing to acknowledge and reply to a covered claim, causing undue delays in handling claims, using biased experts, and conducting one-sided investigations. Additionally, conducting an inadequate investigation or refusing to defend a lawsuit can also be considered bad faith actions.
Further, it is considered bad faith for an insurer to make threats against the insured or demand excessive documentation that is not required by the policy. Using illegal or fraudulent investigative practices is also not allowed. Making wrongful threats of non-payment and refusing to offer a reasonable settlement are also considered bad faith practices. Additionally, making unreasonable interpretations of an insurance policy is also not acceptable.
Insurance companies are not allowed to advise claimants against hiring a lawyer, which undermines their ability to defend themselves and exercise their legal rights. It is also illegal for insurers to deny payment based on inaccurate, outdated, or false legal or factual information. Additionally, insurers cannot shift blame or responsibility from themselves to the insured. They are also prohibited from intentionally misrepresenting the law or their duties under it. Lastly, they cannot make changes to a policy without notifying the insured.
Recoverable Damages for Bad Faith
Compensation available for damages in a bad faith insurance claim is determined by the specific circumstances of each case. However, there are some general principles that apply to most cases.
Because of the intentional conduct involved in bad faith insurance claims, punitive damages are often awarded, which can be substantial. Predicting the compensation awarded in such cases can be challenging, as the concepts involved are often complex and depend on the jury’s beliefs about the insurer’s motives and state of mind.
How to Avoid an Insurance Dispute in Yonkers, NY
If you have ever had to deal with insurance claims, you know how complicated and overwhelming it can be, especially when conflicts arise between policyholders and insurance companies. It is essential to have a deep understanding of how to manage these disputes efficiently to achieve a just and prompt resolution.
Document Everything
When filing an insurance claim, thorough documentation is essential. Start by taking photographs or videos of the damage as soon as it occurs. Capture multiple angles and close-ups to provide a clear visual representation.
Be sure to keep all receipts, invoices, and estimates related to repairs, replacements, or medical expenses. Detailed documentation strengthens your case and provides evidence for the damages claimed.
Read Your Policy Carefully
Insurance policies are filled with complex terminology that can be challenging to grasp. However, understanding your policy language is vital in navigating disputes effectively. Take the time to read and comprehend the terms and conditions, coverage limits, deductibles, and exclusions in your policy.
If you come across any ambiguities, contact your insurer for clarification. Being aware of your rights and obligations as a policyholder empowers you during the claims process.
Contact Our Firm
Dealing with insurance claims can be a daunting and complicated process, especially when things do not go as planned. Having an experienced attorney who specializes in insurance claims disputes can make a huge difference in the outcome of your case. At our firm, we understand the difficulties you might face when communicating with your insurer, experiencing delays in claim processing, or having your claim denied unjustly.
Our team will work tirelessly to protect your rights by navigating the legal intricacies, negotiating with your insurer on your behalf, and escalating the matter if necessary. You can trust us to fight for your best interests and ensure that you receive the compensation you deserve.
Our Yonkers, NY Civil Attorneys Can Help
Contact The Martello Law Firm today at (914) 685-6950 for a free case evaluation with our civil lawyers.
