As a property owners’ association, you rely on your insurance company to step in when you need to be protected against certain claims. Yet, in far too many cases insurance companies try to sidestep their obligations, which could leave you on the hook for unexpected and undeserved expenses.
If that’s happened to you, then you need to carefully analyze your circumstances to see if your insurance company is acting in bad faith. If they are, then legal action may be warranted to recoup your claim amount and damages.
How do you know if bad faith is in play?
In some instances, bad faith can be hard to spot. However, there are several signs that your insurance company is acting in bad faith and contrary to the law. This includes the following:
- Your claim is denied without justification.
- The decision on your claim is taking an extremely long time to render.
- The insurance company offers you a settlement that is worth far less than the value of your claim.
- Despite providing all requested information demonstrating that your claim is valid, the insurance company delays in paying you what you’re owed.
- The insurance company drags its feet on investigating your claim when they determine that an investigation is necessary.
- The insurance company misconstrues or flat out lies about the facts of your case.
Don’t face financial disadvantage due to insurance bad faith
You’ve upheld your end of the insurance bargain by paying your insurance premiums. When the insurance company fails to uphold their end of the deal, you might need to take legal action to force their hand.
We know this can be a tricky area of the law to navigate, but help is available out there. Just be sure to prepare yourself to advocate as aggressively as possible so that you protect your interests as fully as possible.