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In 2017, the United States insurance industry recorded a total of $1.2 trillion in net premiums. Millions of Americans rely on insurance companies to pay out compensation when they need it most. Claimants deal with injuries, high medical bills, and other costs incurred by no fault of their own.
Unfortunately, the insurance industry also has countless tactics they use to pay out as little as possible whenever someone makes a claim. One of those tactics is delaying payment. While insurance companies take advantage of timelines often, it’s not something that they can legally do.
Bad Faith Insurance
Because so many people rely on insurance companies, there is a standard by which providers must abide. For instance, when someone files a claim, the insurance company should evaluate the needs of the claimant promptly and efficiently.
When insurance companies try to delay payment, they’re acting in bad faith. They’re using tactics that put the injured party in a difficult position for their gain. Insurance companies should pay out claims as quickly as possible once the insurance adjuster assesses the damage and puts a number amount owed to the claimant.
Taking Legal Action
If an insurance company acts in bad faith, the claimant can pursue compensation through a lawsuit. The claimant must show that the insurance company is attempting to minimize the claim by delaying their compensation.
The lawsuit may seek damages for medical bills and lost income that the insurance claim would provide, but there may be additional action for the negligent actions of the provider. If the insurance company is delaying compensation, it’s best to speak with a lawyer about your options.
Our Houston car accident lawyers at the Daspit Law Firm work hard to hold insurance companies to their word. We want to help injured individuals understand and protect their rights through the tumultuous process that follows a claim against a negligent driver.
Call our firm today at (888) 273-1045 to learn more about your rights and options.