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Is your Insurance Company Acting in Good Faith

Posted by Joe Brennan | Posted in Homeowners Insurance, Insurance Advice, Insurance Claims Help, Insurance Dispute | Posted on 03-19-2014


bad-faithIs your Insurance Company Acting in ‘Good Faith’?

When your insured home has been damaged in a burglary or by natural causes, you may draw solace from the fact that your insurer will cover at least the monetary loss that you have sustained. However, many homeowners get a rude shock when the insurance company seems to be very unwilling to accept their claim, no matter how reasonable it is. This unfortunate state of affairs could confront you as well if you have signed up for coverage with an insurance company that does not really act in good faith.

You have a right to good faith conduct from your insurer

Your insurance company has to protect your interests when you file a claim for compensation as per the terms of your homeowner’s insurance policy. Good faith conduct means that the insurer adjusts your claim in a timely manner. In case there is a reasonable cause to reject it, it is up to your insurer to make this known to you as soon as possible.

In many cases, what really happens is that the insurance company keeps the claim hanging in limbo indefinitely without giving the claimant any clear indication of whether or not the claim will eventually be processed. Worse still, the claimant may not be able to find out why the process is being delayed and how he can hasten it.

When your home has been substantially damaged in a fire, flood or during burglary, such a delay can prove to be much more than just a major inconvenience. Your inability to pay for repair or restoration affects your quality of life severely. Your life cannot go back to normalcy until the claim is paid and you can complete the repairs to make your home suitable for living once more.

What you should do to speed up the claims process

If you are facing inordinate delays in claims processing, you should send a formal query in written form to your insurer. In this written query you should mention the date on which you have made the claim and any subsequent follow- ups you have made over phone or in person. At any point, if you do interact with your insurance company over phone, make a note of the person you have spoken with and the gist of the conversation.

When making a written complaint about delay in claims processing, correspond with your claims adjuster as well as his supervisor and mention the relevant details of your case in the letter. In case you have to take further action, this written record will show exactly how your insurer has acted in bad faith with respect to your claim.

Related Stories:
Insurance Bad Faith
Signs Of Bad Faith Insurance
The Adjuster And Carrier’s Intent SHOULD Be To Seek And Find All Available Coverage

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(C) Joe Brennan is President and owner/operator of Insurance Claims Group, Inc., a national independent adjusting, appraisal, and umpiring firm. We will answer your claim questions FREE as part of our FREE Insurance Advice and Insurance Claim Consulting Services.

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Joe Brennan
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