After an accident, no one wants to spend time fighting an insurance company. If you are injured, you want to focus on getting better. If your property is damaged, you just want it fixed so you can move on with your life. If you have lost a loved one, you need time to mourn and to adjust to the abrupt change in your life.
These are the times when you count on your insurance company not only to understand your situation but to work with you to settle your claim efficiently. These kinds of events are why you buy insurance. You have paid premiums for months or years without filing a claim; when you finally need the coverage, you want everything handled without a hitch and in good time.
And, for that matter, in good faith.
We often talk about how insurance companies work. They gamble: They collect premiums and wager that the policyholder will never have a claim. Depending on the company, that can translating into making money for shareholders by not paying claims. But by not paying claims, these companies are kicking their policyholders — the real source of the insurance company’s income — while they are down.
There are times when insurance companies delay payment or even delay an investigation into an accident because they need more information. If the delay drags out, though, the policyholder can be left holding the bag. The policyholder can be inundated with bills, then past due notices and then dunning letters. The insurance company has managed to make the situation much worse.
There are times, too, when insurance companies delay payment or processing of a claim out of their own self-interest. There is no reason for the delay beyond the insurer’s intention to hold onto money that by all rights belongs to the policyholder. This is more than just making the situation worse: This is bad faith.
The attorneys at & Lumpkin, P.A. have helped policyholders resolve disputes about timing and payouts for many years. From our offices in Miami and Orlando, we have worked with clients in Florida and around the country on issues with all types of insurance. We understand the difference between stalling and bad faith, because we focus on our clients’ best interests.
We work just as hard for individual homeowners with flood insurance problems as we do with large groups of policyholders dealing with defective drywall. If you have a question about our experience or services, please contact us.Share