Many Americans spend thousands of dollars each year paying for insurance coverage. As a commodity that is highly valued in our society, insurance is purchased and used by consumers in various coverage forms, including: automobile, homeowners, life, health, disability, business, renters, umbrella, and more. Many people never encounter devastating losses that require the use of insurance policies for filing large claims. However, some of those who have faced significant losses have unfortunately encountered difficulties dealing with insurance companies and certain bad faith insurance methods that some providers employ to minimize their payouts.
For instance, some insurers may significantly underestimate your losses, rely on complex policy language to deny your claim, or unreasonably delay the process of approving your claim. As well, even good faith insurance providers won’t volunteer certain facts that may help you save money.
If you’ve been injured and an insurance provider has denied or delayed approval of your claim, then you may have a legitimate bad faith insurance claim and should contact our bad faith insurance lawyers at Belt, Bruner, & Barnett P.C. We don’t allow insurance companies to take advantage of our clients. Our team will work vigorously on your behalf to ensure your claim is evaluated fairly, and that you receive the compensation that is appropriate for your losses.
Call us today at (205) 933-1500, or contact us to request a free consultation.
Your Insurance Company May Not Tell You the Following
1. If you don’t smoke, you pay less.
Non-smokers generally pay less for insurance, including homeowners, car, and life insurance policies. Normal discounts on insurance premiums for non-smokers can range from five to 15 percent.
2. Your credit score may determine your payout amount.
Credit scores are a factor that insurance companies use to evaluate your ability to pay future premiums in a consistent manner. If an insurance agent asks you for your Social Security number, you should understand that it is for the purpose of pulling up your credit report.
3. You have the right to fight back if the insurance company denies your claim.
You and your insurance company entered into a contract after you signed your policy. The insurance company is required to act in good faith based on the terms of the contract. If your insurance provider acts in bad faith, they are in breach of contract.
4. Your lawyer may conduct an investigation to determine who caused an accident.
If you have been involved in a vehicular accident and it is unclear who was at fault, you may hire an attorney to investigate the incident to help determine fault. Attorneys hire experts for this purpose to investigate accidents through the use of technology and other means in order to build successful cases on behalf of their clients.
5. You will pay the most expensive auto insurance premiums when you are young and old.
Drivers who are 18 years of age pay the highest auto insurance premiums. Between the ages of 18 and 25, those premiums tend to decline steadily until they remain somewhat consistent between the ages of 25 to 55. Between the ages of 55 and 65 premiums tend to rise gradually until they increase even more significantly at about age 75.
6. Insurance carriers want to – at the very least – break even regarding your premium payments.
In some ways, insurance companies operate like financial institutions with capital. They invest the proceeds of your premium payments with the intent to make additional money. Their primary concern first is to obtain your business. The actuaries that work for insurance providers put all factors together to determine how much profit they are likely to make in interest after they have at least broken even with your premium payments.
7. You can change to a different insurance provider and save money.
Car insurance companies value your loyalty. When they initially obtain an insurance policy, many people may not perform a comparison of rates among competitors. However, even those who do perform rate comparisons tend to stay with their initial provider for many years without questioning the amount of their premium.
It is beneficial for you as a consumer to perform a rate comparison on a yearly basis to find out what other insurance companies are offering.
Contact an Experienced Bad Faith Insurance Lawyer from Belt, Bruner, & Barnett P.C. Today
If you have been denied, delayed, or inadequately paid on your insurance claim, you have the right to take legal action to secure what you are owed. At Belt, Bruner, & Barnett P.C., we don’t allow our clients to be taken advantage of by bad faith insurance activities. We can fight on your behalf for the compensation you deserve. With offices in Birmingham, Mobile, Huntsville, and Montgomery, our attorneys will quickly travel anywhere in the state of Alabama to investigate your case. Contact our highly skilled team today at (205) 933-1500 to set up a free case evaluation.
