Insurance Facts that Every Policy Holder Should Know (if they don’t want to be taken advantage of)
Did you know that:
- every one of the 50 states regulates unfair claim settlement practices?
- your insurance company has a duty to explain all of your potentially applicable coverages to you at the beginning of an insurance claim?
- your insurance company through your insurance claims adjuster has to respond quickly and professionally to your questions and requests for information?
- your insurance company has a duty to fully investigate the facts of your loss at its own expense including estimates, environmental issues and assisting you with your contents?
- your insurance company must attempt to settle your insurance claim for a reasonable amount based on the facts?
- your insurance company cannot legally force you to litigation on an otherwise legitimate claim?
- your insurance company cannot require you to submit duplicate requests on things such as contents?
- even if your claim can be denied under one exclusion but covered under another portion of the policy that the insurance company must choose the covered option?
- if your insurance company fails to do any of the above, they are acting in bad faith and in violation of the insurance state regulations?
Did you know that everything on this page was taken from the Uniform Unfair Claims Practices Act which applies to every insurance company in virtually every state?