Insurance companies are required to act in good faith at all times. Unfortunately, they don’t always treat policyholders with the respect they deserve.
To mitigate issues like this, the Texas Insurance Code has been put into place with detailed guidelines on the processing of claims and settlements. These laws help protect policyholders from insurance companies who act in bad faith.
How much should my settlement be?
It depends entirely on the claim and your insurance company. Typically, insurance companies that are accused of acting in bad faith offer very low settlements. They will also fail to include information, like how they got their numbers.
They might also pressure the consumer to accept the low-ball settlement by offering inaccurate statistics and bad information. Many uninformed consumers end up accepting these claims because of intimidation and feeling like they have no other option.
When can I contact an attorney?
If you feel that your insurance company has:
- Treated you unfairly,
- Not given you the compensation you deserve,
- Or, denied your claim without a proper investigation
You have the right to seek legal advice.
Who should I contact?
You should contact an experience insurance lawyer to assist you in the legal process. An attorney who has a strong background in the world of insurance claims will know who to contact and what to discuss in order to get you the treatment and compensation you deserve.
What will my insurance lawyer do?
Your insurance lawyer will start by discussing with you. They will get the details on the claim you filed, how the communication went between you and the insurance company, and how the insurance company offered to settle the claim.
If your claim was denied, your lawyer will help you dispute the denial.
The attorney will also look into the investigation the insurance company did, and their timeliness in communicating with you. If they find that the insurance company did not act in accordance with the insurance laws, they may encourage you to file a bad faith insurance claim.
How long will it take?
The process varies in length, depending on the insurance company’s initial response (whether they offered a settlement or denied the claim) and how willing the insurance company is to work with you and your attorney.
Your lawyer will act as a representative for you and contact the insurance company on your behalf. Your lawyer will do their best to resolve the issue through speaking with your insurance company. If it results in a bad faith insurance claim, the process will take longer.