Can you trust your insurance company to pay? Think again

Posted On April 30 2018 | Firm News,Motor Vehicle Accidents

The weeks following your auto accident were some of the most stressful and tedious weeks of your life. Finally, the investigations are over, you can focus on recovering from your injuries and you can look forward to receiving your settlement and getting on with your life. However, the insurance company has still not sent a check as more weeks pass, and you have medical bills and car repairs to worry about. Is this normal for Colorado residents who have been in accidents?

Unfortunately, this is a common scenario for people across the country. Insurance companies are in the business to make money, and some employ tactics to release as little money as possible to accident victims. If an insurance company is purposefully not upholding its end of the agreement, this is known as bad faith. According to FindLaw, some common bad faith practices you might encounter with your insurer or the other party’s insurance company include the following:

  • Conducting only a cursory investigation before denying your claim
  • Offering you a minimal settlement when the policy entitles you to a much larger amount
  • Taking a long time to complete the accident investigation before offering a settlement or sending the check, in hopes that you will stop trying
  • Not notifying you of deadlines to file your claim, failing to provide the proper forms or not informing you of additional options that may entitle you to a larger settlement
  • Outright refusing to pay a claim that you are legally entitled to
  • Threatening you with legal action if you pursue a settlement

These dishonest and abusive tactics by insurance companies can be disheartening, and in fact, they have discouraged many people from pursuing money that they are entitled to. However, you have the right to fight insurance bad faith tactics and receive compensation for your injuries, suffering and property damage.