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What happens when an insurance company acts in bad faith?

| Sep 5, 2017 | Bad Faith Insurance, Uninsured/underinsured Motorist Accidents |

When you are going through a stressful time, for example, recovering from a serious car accident, the last thing you need is an insurance company that acts in bad faith. That is, a company that misleads you or does not follow its obligations under Colorado law.

The consequences to you can be severe when an insurance company acts in bad faith. For example, suppose it was an uninsured driver who hit you and you carry at least the minimum uninsured/underinsured motorist insurance coverage. However, insurance regulations can be complex, and if you get a jargon-laden letter from your insurance company stating what it will cover and what it will not, you might just be happy that at least some things are covered.

Struggling to recover and to make ends meet

The thing is that recovering from a car accident, on-the-job injury or another personal injury is not just about getting physically better. You may have missed work or gone through mental and emotional suffering. On top of that, your physical recovery may be slow. In fact, you might never be the person you used to be. Lost wages, counseling bills, medical bills and more all cost money. When some people struggle to stay afloat, they turn to drastic but necessary measures such as selling valuable assets and making hefty credit card charges. In the end, a car accident could leave you all but broke.

On the other hand, if the insurance company had acted in good faith and covered everything it was supposed to, you might have managed to stay afloat and make ends meet without having to resort to serious measures.

Not all insurers are created equal

Some insurance companies do act in good faith and do everything they are supposed to. Others, though, might cut corners or fail to take into account the particulars of your situation, be it a hit and run, dog bite or car crash. It can be a good idea to have a lawyer advocate for you from the start to ensure your insurer does its job.

 

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