People and companies rely on insurance policies to provide financial stability in the event of a tragedy or unforeseen event. This applies to situations that can occur at almost any time and in all aspects of our lives. Events such as car crashes, damage to the family home, and even incidents that motivate a person to seek out disability benefits may all lead to insurance claims. Sadly, insurance companies make their profits by collecting premiums on policies but denying claims. In some cases, these denials may be in violation of state law.
A Moundsville insurance bad faith lawyer may be able to help you determine if an insurance company has denied your claim in bad faith. If so, our team of skilled personal injury attorneys could recommend the best path forward for protecting your rights and demanding the payment of benefits under your plan.
Buying an insurance policy enters you and an insurance company into a contract. In short, the insurance company promises to pay out benefits in the event of a covered loss. This promise is in exchange for your continued payment of policy premiums. It is clear to see why an insurance company might want to find any excuse possible to deny the payment of a claim.
Many of these excuses are violations of state law. According to West Virginia Code § 33-11-4 (9), it is an unfair claim settlement practice for an insurance provider to:
The law in Moundsville also recognizes the ability of policyholders to initiate lawsuits against insurance companies when they suspect that a bad faith denial of a claim has occurred. These lawsuits can demand the enforcement of an insurance policy. A Moundsville insurance bad faith attorney could provide more information about state law on this subject and determine if your experiences fit within this definition.
Almost every person and company in the Moundsville area is an insurance policyholder. State law requires all motorists to have insurance policies on their vehicles. Others have homeowners’ insurance plans that should provide payments in the event of a natural disaster or another catastrophic event. Many will have life insurance policies on loved ones or disability protection policies in place should an illness or injury leave them unable to work.
All policyholders should be aware of the terms of their policies when signing onto coverage and before making a claim. The policies can be deceptive in describing the coverage that they provide and when a claim is applicable following a loss. A diligent Moundsville lawyer could evaluate your insurance policies to determine if a denial was the product of a genuine dispute over the terms of the contract or if it was in bad faith.
Our team has experience going up against insurance companies acting in bath faith. Most recently, in Cox v. Personal Service Insurance Company, our team won a record-setting $11.5 million verdict for The Cox and Bigler families when their insurance carrier refused to pay out their claim following a loved one’s death.
Holding an insurance policy should give individuals, families, and businesses peace of mind that should the unthinkable happen, they will still have financial stability. Sadly, this is not always the case. Insurance companies will find any excuse they can to deny a claim, and many times, these denials are in violation of state law. We call these denials acts of bad faith.
You have the right to demand enforcement of an insurance policy, especially when an insurance company acts in bad faith. A Moundsville insurance bad faith lawyer at our firm could help you understand the terms of your policy, your rights under the law, and your ability to pursue lawsuits that seek out potential remedies. Call the dedicated team of attorneys at Bordas & Bordas today to schedule your free consultation.
