You know you need insurance for all sorts of things - from your home to your car and more. But how do you know when your insurance company has acted in what's known as "bad faith insurance" tactics?
According to the consumer advocacy group FBIC, an insurer may be acting in bad faith if it delays, discounts or denies payment without reasonable cause. An insurance company could be acting in bad faith if it failed to pay a covered claim without a proper and thorough investigation, or if it attempted to settle a claim on the basis of an application that was altered without notice.
Bad faith may be declared if a person is denied treatment for a covered health benefit because it is too costly or if an insurer is simply not acting in the best interest of a patient.
And while there are many other instances that can be considered bad faith, it's often difficult for victims to know if filing a bad faith insurance claim is right for them. That's why it's important for anyone who feels he's been mistreated by an insurance company--or had a wrongly denied claim--to contact a qualified attorney who can help determine if a bad faith claim should be filed.
Because when an insurer acts in bad faith, it is basically a breach of contract. Insurance bad faith claims can help people get compensation for both emotional distress and economic injury.