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Insurance Bad Faith and the Strategies Employed by Insurance Providers to Make it Look Legal

A house, which may be nothing more than just a profitable commodity to real estate firms or the basis of business for property insurance providers, assumes a totally different value in the eyes of the family that owns it. For a family, the house that it was able to purchase through hard work is a treasured property Thus, a family would embrace every means to improve it as well as protect it from threats of destructive calamities by putting it under insurance coverage.

There is no telling, however, what extent of damage a disaster may cause. It will all depend on what type of disaster happens and how hard it will hit a particular property. It could be a storm, a tornado, a hurricane or fire – the effects of these can be a destroyed house part, which will only require simple replacements and repairs, or total destruction, which will require the building of a totally new structure.

A day or two after a calamity, such as a hurricane, independent adjusters are usually seen, eagerly assessing the extent of damages to properties. These adjusters are usually new to job, untrained and content in evaluating the damages from where they stand on the ground. Thus, it is not surprising that the estimations they come up with are more often incorrect than correct, resulting to a very low amount of financial benefit from the affected family’s property insurance provider.

The adjusters and the small amount of benefit (others even consider it good luck if claims for insurance has been approved, despite the small amount of cash) are actually strategies employed by many insurance firms to keep them from releasing big cash. Other insurance providers would even deny claims outrightly, using technical error as the reason of denial of the claims. The fact is, this so-called technical error is nothing more than a skipped box or a missed signature.

To policy holders, whose claims have been denied or whose benefits are either delayed or way below the amount stipulated in their policies, any of these situations can be both infuriating and very irritating. To insurance claims attorneys and other financial experts, however, this is one classic case of insurance bad faith, a situation wherein an insurance provider violates the very contract it has made and signed with the policy holder – to enable it to keep as much profit as it can.

Having a highly-knowledgeable and experienced insurance claims lawyer to help you from the very start of your application will be an intelligent decision. Well-versed in the laws governing insurance providers and policies, this lawyer can help you keep your claims application from being rejected plus enable you to receive the amount closest to that specified in your policy.

One Response to “Insurance Bad Faith and the Strategies Employed by Insurance Providers to Make it Look Legal”

  1. Do you have a facebook where I can see more posts like this?

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