Bad Faith Insurance
Philadelphia Bad Faith Insurance Lawyer
Insurance companies have a habit of denying claims and raising premiums. They delay payments and abuse their policyholders with questionable tactics. Insurance companies have high-powered lawyers on their side — and so should you. If you believe that your insurance company is acting in bad faith, contact a Philadelphia bad faith insurance lawyer at Kane & Silverman. Our experienced attorneys will evaluate your claim, free of charge. We will fight for your rights when your insurance company has wronged you.
Examples of Insurance Bad Faith
You might assume that when you purchase an insurance policy from a seemingly reputable insurance company, they will promptly pay claims when submitted. But this is not always the case. An insurance company may be acting in bad faith if the company:
- Fails to pay a covered claim
- Fails to settle a case within policy limits, exposing the insured to personal liability
- Unreasonably delays the payment of a covered claim
Why Do Insurance Companies Act in Bad Faith?
Insurance is big business. Insurance companies take in hundreds of billions of dollars in premiums every year. They make money by investing those proceeds. The longer they retain the money, the more they make on their investments. Thus, from a purely financial standpoint, the insurer has an incentive to delay the payment of claims.
Consequences of Insurance Bad Faith
When an insurance company fails to meet its contractual obligations, the financial consequences can be devastating. Business’ and individuals rely upon having the use of their assets. So, they purchase insurance to protect against risks to their assets. When an insurance company fails to pay a covered claim, or delays the payment of such a claim, consequences can be serious. Businesses’ can fail, people can lose their jobs, individuals can be subjected to personal liability, and the well-being of families is jeopardized.
Insurance Bad Faith Attorneys in Philadelphia, PA and Marlton, NJ
If you think that you’re a victim of insurance bad faith, contact Kane & Silverman today. We have offices in Philadelphia, PA and Marlton, NJ where you can meet with our legal team. For a free consultation with a Philadelphia bad faith insurance lawyer, call 215-232-1000 or fill out an online contact form.Bad Faith Insurance FAQs