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What is the Difference Between Bad Faith and Undervalued Insurance Claims?

Bad Faith and Undervalued Insurance Bad Faith and Undervalued Insurance

At The Morgan Law Group P.A., our Florida, Louisiana, Mississippi, and Puerto Rico insurance claims attorneys know that when our clients pursue their coverage for home or business property damages, any response outside of a speedy and full financial recovery seems unfair.

Unfortunately, insurance companies are notorious for delaying, undervaluing, or denying claims. Worse, some may even practice in bad faith, which is more than unfair — it is illegal.

Our skilled insurance claims attorneys can help you understand your legal rights and options to pursue your insurance company for the damages you are entitled to under your policy’s agreement.

Here is what you need to know about bad faith insurance practices, undervalued claims,s and your rights to push back.

What are Common Examples of Bad Faith Insurance Practices?

Insurance companies legally have a duty of “implied covenant of good faith and fair dealing” to their clients.

When they do not fulfill this duty and act in good faith, their policyholders may have grounds for a bad faith insurance lawsuit.

Common examples of bad faith include:

  • The insurance company denied the claim but did not provide a satisfactory reason.
  • The insurance company took an unreasonable length of time to pay the claim.
  • The insurance company intentionally misinterpreted or inaccurately represented their policy to minimize the cost of the claim.
  • The insurance company undervalued or denied the claim after failing to investigate the property damage.

If you believe your insurance company is acting in bad faith, but are unsure how to prove it, contact our skilled insurance claims attorneys today to discuss your concerns, so we can pursue the outcome you deserve for your losses.

How Do I Know If My Insurance Claim is Being Undervalued?

Not every insurance claim denial rises to the level of bad faith.

Insurance companies often undervalue or deny claims to protect their bottom line.

In some cases, the policyholder’s coverage may not include the type of damages suffered, which may result in a denial. Other times, the insurance adjuster may value the damage at a lesser amount than a public adjuster — one who does not work for the insurance company — might.

Our skilled Florida insurance claims lawyers will thoroughly review your insurance policy to highlight the available coverage options that apply to your damages. This allows our clients to pursue the actual recovery costs necessary to make them whole again.

Why Partner with the Skilled Insurance Claims Attorneys at the Morgan Law Group

First, partnering with an experienced insurance claims lawyer will help you understand your insurance policy, which will help you determine the financial compensation you are entitled to for your complete damages.

We can also help you understand whether your claim is being undervalued, or if the insurance company is operating in bad faith, as the latter may open doors to additional lawsuit damages.

Insurance companies are held to a high standard for multiple reasons, and the first is to ensure their policyholders are not financially devastated by the damages their properties have sustained.

Our dedicated insurance claims attorneys can help ensure your insurance dispute is a fair fight, so you are not intimidated by their deep pockets, legal teams, and extensive resources.

Contact The Morgan Law Group, P.A. Today To Schedule a Free Consultation

At The Morgan Law Group, P.A., our insurance claims attorneys believe that if you pay for insurance coverage, it should be there when you need it.

If the insurance company delays, undervalues, or denies your claim, contact our experienced insurance claims attorneys in Florida, Mississippi, Louisiana, and Puerto Rico at (844) 818-0774 to schedule a free consultation and learn how we can help you pursue the outcome you deserve from your insurance policy.

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