When an insurance company acts unscrupulously and doesn’t handle your claim in an appropriate matter, you might be able to file a bad faith claim against them. Fighting insurance companies and obtaining your rightful compensation is difficult to handle on your own. If you’re dealing with bad faith insurance, a lawyer may be necessary.
Colorado bad faith insurance laws and the legal process are complex; you’ll want a professional who knows how to navigate the laws and how to deal with insurance companies effectively. There are lots of ways an attorney can assist victims, three of which are discussed below.
#1: An Attorney’s Involvement Makes an Impression
An attorney’s involvement in your bad faith case makes a statement to the insurance company that says you are not messing around. The insurance company won’t automatically settle or give you whatever you want just because you have a lawyer but having an attorney may help avoid further bad faith practices once the insurance company knows you have knowledgeable legal representation familiar with proper claims practices.
Insurance companies who mishandle claims may delay or wrongly deny claims hoping that the victim will eventually just give up in frustration or accept a much lower settlement out of financial desperation. However, when you have an attorney on your side, the insurance company should recognize that the attorney is familiar with the law and the victim’s rights to a fair claims process and compensation.
#2: An Attorney Explains and Upholds Victims’ Rights
A good bad faith lawyer will have had numerous years of education, plus field experience dealing with insurance companies. They will be able to explain what your rights are in a way that you understand, and then do everything they can to ensure your rights are upheld.
Essentially, you have the right to have your claim handled fairly and within a reasonable time limit. CRS 10-3-1115 (1)(a) states, “A person engaged in the business of insurance shall not unreasonably delay or deny payment of a claim of benefits owed to or on behalf of any first-party claimant.”
Your attorney can:
- clearly explain the details of your rights minus all the legal jargon;
- help you collect evidence that supports your case;
- safeguard your rights; and
- move forward with the next legal steps to pursue compensation if it’s determined that the insurance company is, in fact, attempting to sidestep the law.
#3: An Attorney Can Negotiate a Settlement
Bad faith insurance lawyers know how to negotiate settlements and obtain the best possible results for their clients. They can assess a case, calculate damages, and determine if the settlement offer is fair. They can oftentimes negotiate a settlement with the insurance company far quicker than victims can do on their own.
If attempts at negotiation fail, attorneys will be prepared to build a case and attempt to prove it to the courts. They can represent you and be your legal confidante through the trial process, if it comes that. They will make sure your case is demonstrated accurately and effectively.
Consider Bad Faith Injury Attorney D.J. Banovitz as Counsel
If you believe you are dealing with a bad faith insurance company, we invite you to call attorney D.J. Banovitz in Denver. He regularly handles cases of this nature and is available for consultations. Contact our Denver firm today to schedule a free consultation at 303-300-5060.