What You Need to Know About Insurance Company Unfair Claims Settlement Practices

Insurance companies are supposed to have your back when you experience property damage, but some of them don't always play fair. Sometimes, they may use unfair claims settlement practices to avoid paying out what you deserve after experiencing a loss. These tactics can leave you feeling frustrated and helpless. However, knowing what to look out for can help you avoid being taken advantage of and potentially even take legal action against your insurance company. In this blog post, we'll explore some of the most common unfair claims settlement practices insurance companies use and how you can protect yourself.

Making a legitimate property damage claim can be a stressful process, especially if you have never filed an insurance claim before. Insurance companies know this, and some of them may take advantage of your lack of knowledge to delay or deny your claim. Common tactics they may use include:

1) Delaying payment

Some insurance companies may drag out the claims process by asking for unnecessary documentation or repeatedly delaying their response. They may do this to try to wear you down or frustrate you, making it more likely that you'll accept a settlement that is less than you deserve.

2) Denying your claim

If an insurance adjuster determines that the damage to your property is not covered under your policy, they might deny your claim outright without giving you a fair chance to appeal the decision.

3) Lowballing

Insurance companies may also try to lowball you by offering you a settlement that's much lower than the true value of your claim. This often happens when an insurance adjuster determines your property damage claim is valid, but the company doesn't want to pay what it's worth.

4) Misrepresenting policy language

Insurance adjusters may try to twist policy language to make it seem like your damage isn't covered, even though it is. Or, they might suggest that the type of damage you experienced is much less severe than it actually was.

5) Ignoring evidence

Insurance companies may ignore evidence that supports your claim or invent their own evidence to use against you. They may also refuse to conduct an investigation or take your evidence into account.

Knowing your rights and working with a public claims adjuster can help you combat these tactics. A public claims adjuster works on your behalf, not the insurance company, to ensure that you receive a fair settlement for your property damage claim. Their expertise in the claims process and policy language can be invaluable in helping you navigate the claims process.

Conclusion

Don't let insurance companies take advantage of you when you're already dealing with the stress of property damage. Knowing what to look out for and working with a public claims adjuster can help you get the settlement you deserve. If you've experienced property damage and believe your insurance company might be using unfair claims settlement practices, don't hesitate to take action. Contact Ultra Property Damage today for a free consultation to determine whether your insurance company is acting in bad faith and learn how we can help you get the settlement you deserve.