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Understanding bad faith property insurance practices

On Behalf of | Aug 13, 2020 | First-Party Property Insurance Claims

Florida is often the first stop for devastating natural disasters like hurricanes. As such, most Florida homeowners acquire insurance to mitigate the damage natural disasters and other events can cause.

Most people trust their insurers to pay valid claims in the wake of property damage, but sometimes insurance companies fail to act in good faith by using a variety of techniques to avoid paying valid claims. This is called bad faith on the part of insurers.

Our insurance litigation attorneys want you to be aware of these bad faith strategies when purchasing insurance or filing a property damage claim. To help increase your understanding we have provided a few examples of common bad faith practices in the following section.

Poor investigation techniques

Insurance companies must conduct a complete investigation into the details of your claim. When they fail to do so, you may have grounds to pursue individual insurance litigation to get the payment you deserve.

Delay tactics

Insurance companies want to hold on to the premiums they collect from consumers. One way they try to do this is by delaying attempts to investigate your claim in the hope that you will just give up.

Low offers

This type of bad faith occurs when an insurer offers a payout that is much less than your repair estimates. Many homeowners find success in filing a bad faith insurance claim due to lowball offers by the insurer.

The main points we hope you take away from this post include:

  • Do not give up if your insurer employs delay tactics
  • Make sure you read and understand your policy
  • Understand that you do not have to accept a lowball settlement
  • Consider finding legal help for bad faith practices

We can help you if you are having a dispute with your insurer. You can learn more by browsing our firm’s insurance litigation resources or by contacting our legal team.

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