The next steps for an unfair insurance settlement
After filing a claim for hail damage, it may be shocking to realize that your insurance company is not interested in protecting you to the fullest. This may be something you discover after the insurance company gives you wat you consider to be an unreasonable or unfair settlement.
A settlement simply refers to an arrangement between two or more individuals to resolve a dispute. Frequently, insurance companies that have been accused of bad faith insurance dealings will offer extremely low settlement amounts and not give appropriate information to the consumer about how this decision was determined. In these situations, they may even provide inaccurate information to the consumer in order to pressure that individual to accept a low settlement amount. This can be frustrating for a consumer who knows the full cost of his or her claim.
Both the reasonableness of the settlement process and insurance disputes are outlined by the Texas Insurance Code. Insurance companies are responsible for always acting in good faith throughout the insurance claims process and that includes settlement. The primary purpose of insurance laws in Texas and elsewhere is to protect policy holders by regulating treatment and trade practices in the insurance business.
In the event that you believe that your insurance company offered you an unreasonable settlement or otherwise acted in bad faith over the course of your claim filing, you need to consult with a lawyer immediately. This may be your only way to rectify the situation. Remember that the first offer received from the insurance company is not the one you have to accept. However, if the company tries to bully you into taking this offer or otherwise acts in bad faith, this may prompt a lawsuit on your part against the insurance carrier. It’s strongly recommended that you have a lawyer to help you with that process.
Although it can be disheartening to realize that the insurance company has minimized or denied your claim altogether, having legal representation shows that you are taking the case seriously and you intent to fight for all of your rights. If you have an insurance policy that was active on the day that you sustained the damage and have properly held up your end of the bargain by providing all necessary information to the insurance company, it can be extremely aggravating for the insurance company to deny this right away. Having an attorney who understands bad faith insurance claims and who can help move your case along more quickly can help you recover the compensation you need.
Even though an unfair and unreasonable settlement can be difficult to agree on for all parties within the case, it is the insurance company’s responsibility to treat you fairly throughout the duration of the process. In the event that you have not been treated appropriately, you may be entitled to recover a bad faith insurance claim and a lawyer can assist you with filing this and moving forward.