Are Insurance Companies Breaking The Law?

Breaking Law

 

When you are injured in an accident or suffer significant property damage, you depend on your insurance company to be there for you. When they don’t do what you expect them to do, frustration is an understatement.

Insurance companies want to make as much profit as possible, so they may not always obey all the rules. What you may not know is that insurance companies are required to do certain things when you file a claim. When they do not, they may be in violation of the law.

Your Insurance Company Offering Low Settlement Amounts

Although insurance companies try to offer low settlements in order to increase their own profits, they are not allowed, under the law, to purposely offer far less than they know your claim is worth. If you have provided estimates for damage repairs and your policy has adequate coverage to pay those claims, the insurance company may not offer you less than the lowest estimate you received.

The insurance company can also not refuse to pay a valid claim that is a covered event on your policy. For example, if you have no-fault insurance coverage and are struck by an uninsured driver, your insurance company must cover the damages and any injuries.

Misrepresentation of the Law

There have been instances when insurance companies purposely misrepresent the law or the language of a policy in order to avoid paying a claim. Insurance agents have a duty to be truthful in their statements, and making false statements may be a violation of the law. In court, you must prove that the statements made were intentionally false in order to mislead you.

Threatening Statements

Any insurance company that makes threatening statements to a policy holder may be prosecuted under the law. If an insurance agent tells you that if you file a claim, they will file legal action against you this is a ploy to get you to settle your claim before you know all expense that you may occur

 

These Are Just A Few Of The Many Unethical Tactics To Charge You More For Coverage And Then Deny Your Claim!

Become a member of I Hate Insurance Companies and find out more information like this. Join To Day

Related Articles

Responses

Your email address will not be published. Required fields are marked *

WPGrow