Louisville insurance bad faith lawyer is quite an interesting topic, In an ideal situation, when you get into a contract, both parties honour their obligational responsibilities as stipulated in the contract. This is at least how we expect things to go when we enter contracts.
But unfortunately, we do not live in an ideal world and many times, people go against their contractual obligations.
This is purely human nature, we are fickle, pretenders and dissemblers, evaders of danger and eager for gain as Machiavelli rightly points out.
So, to prepare for this human tendency, we have a law for cases where people did not obey the law. Or in this case, a law for when people did not keep to their own parts of the contract.
Some Types of contracts that can be breached
Contracts are shared between parties: people with their fellow people, people with institutions, institutions with fellow institutions. Insurance companies typically have contracts with people, and in a nutshell this contract binds them to the following duties:
That the person involved pays the company as certain amount of money as stipulated in the contract for financial coverage form the company in the case of an uncertain unpleasant event (such as accident, death, loss of home etc.), and that the insurance company pays the person money in the case of that event happening.
When such an event happens, the insured files a claim to notify his insurance company and the company is expected to pay him or her. It is a form of protection against an uncertain future.
Parties of a contract are expected to deal with each other fairly and honestly.
This is called good faith. To treat others in good faith. But when a party has dealt unfairly or seeks to cheat the other, then that’s bad faith.
Many times, people accuse insurance companies of having dealt with them unfairly, and so, they sue for bad faith. Lawyers that help them through this process are called insurance bad faith lawyers.
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The duty of an insurance bad faith lawyer
The primary duty of an insurance bad faith lawyer is to help people get payment for their claims from the Insurance company and make certain that these claims are handled quickly, fairly, and for the right amount of money.
Oftentimes, insurance companies do not act in good faith.
They try to deny the claims of their insured customers, or to delay payments, or even to offer settlements below the stipulated amounts all for their gains.
Because of this tendency from insurance companies, people implore the services of Louisville insurance bad faith lawyer to sue for bad faith and get the payment they deserve.
You will also need to prove that your claim is legitimate, your coverage is sufficient and that your payment is up to date. These are the kind of works an insurance bad faith lawyer does for you.
In addition to the fact that you may also need to prove that your claim was filed in a timely and proper way.
Bad faith law in louisville
There are 50 states in the United States of America and each of them has its own system of laws and courts to handle different legal matters.
Louisville is a city in Kentucky, and is therefore governed by the laws of the state.
In kentucky, they have a law for the settlement of unfair claims known as the Unfair claims settlement practices act of kentucky.
In this act, it is clearly stated that insurance companies must handle all insurance claims in a manner that is fair and just.
In kentucky, as provided by this act, an insurance company is acting in bad faith if it engages in the following:
- 1. Failure to investigate a claim thoroughly and promptly for insurance benefits.
- 2. Refusal or delays in paying and settling a claim without explanation.
- 3. Refusal or delays in paying a claim when the liability is obvious.
- 4. Misrepresentation of pertinent facts to a claim.
- 5. Misrepresentation of pertinent language regarding an insurance policy.
- 6. Using force to persuade a claimant to file a lawsuit when the liability is obvious.
- 7.Refusal to pay the full benefits to an entitled claimant.
This is the position of the law in louisville, as it is in all of kentucky.
Something else worthy of note is that in kentucky, there are two types of bad faith: first person bad faith and third party bad faith.
First person bad faith is when you bring a claim against your insurance company for certain damages or losses you suffered.
While third party bad faith is when you bring these claims against the insurance company of someone else, if they are the ones who caused you the damage or loss.
Specifically, first party bad faith claims commonly involve:
- Health Insurance Policies
- Homeowner’s Policies
- Life Insurance Policies
- Automobile Insurance Policies
- Disability Insurance Policies
While third party bad faith claims may include injuries caused by a negligent driver on another or a worker injured while working on someone else’s property.
Why you should use a louisville insurance bad faith lawyer
People don’t like to accept it, but you need a lawyer. The process of filing an insurance claim is often more complicated than mere mortals assume, yet it is the playground of seasoned lawyers.
We have highlighted some of the things you must do in the process of making an insurance bad faith claim, but we are not experts and there are certainly more pitfalls than we know.
A good lawyer knows those things that we know plus the ones which we don’t. They can strengthen your position and see that you get a fair settlement for your claim.
We also admit that not all lawyers are good lawyers, but as for the choosing of a good lawyer, we leave that to your discretion
Insurance companies are not bad companies, in fact, they are good ones. They provide valuable service to their customers and help them cushion the negative impact of an accident, loss, or any other disaster.
Unfortunately, not all insurance companies have the best interest of their customers at heart.
For so many of them, we are only figures in their balance sheets and they will do whatever they can to reduce the amount of money they pay to a customer struggling to recover from the tragedy of loss or accident.
For them, it’s business and they are saving money. These are the kinds of insurance companies that must be held accountable. Under the Kentucky law as it is consistent throughout the United States, companies have a responsibility to act in good faith toward their clients.
What does insurance bad faith mean?
Insurance bad faith is the unethical practices used by insurance companies to avoid fulfilling their contractual obligations to their clients. These may include: Denying claims, delaying payments, or offering undue settlement.
How can a Louisville insurance bad faith lawyer help me?
A louisville insurance bad faith lawyer can help you gather evidence, present a strong case, negotiate with the insurance company, and if necessary, take your case to court.
What are signs of potential insurance bad faith?
Signs of potential insurance bad faith may include: unreasonable denial of claims, unnecessary delays, failure to conduct a proper investigation, or offering inadequate settlement.
What should I look for while searching for an insurance bad faith lawyer?
When searching for a lawyer, consider their experience, track record, available resources and cost of hiring them. It is still your responsibility to decide if they’re the best fit for your case.
Can I handle an insurance bad faith claim on my own without hiring a lawyer?
Yes. but, even at that, it is not an intelligent thing to do if you’re not experienced in the process. Insurance companies often have teams of highly skilled lawyers working to protect their interests, which can put you at a huge disadvantage.