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Insurance Disputes

Insurance disputes are all too common. Insurance companies want to avoid paying out claims and employ a number of tactics to accomplish this. If an insurance company refuses to pay the claim, the individual will be responsible for handling the claim. Insurance companies may offer an unfair settlement offer. They have the option of refusing to pay a claim or offering to pay the bare minimum. Insurance disputes can cost the insured a lot.

Why do Insurance Disputes happen?

Insurance companies make their money off of utilization. Any individual that is never involved in any car accident makes money for the insurer when there are no claims filed. The healthiest people come with fewer risks because they aren’t as likely to require hospitalization and numerous procedures. When claims are paid out, the goal is to make sure that the minimum amount is paid out. These companies are generally hopeful that the settlement goes unchallenged. When there are no experienced attorneys involved, they save money in underpaying claims. When the person disagrees with the amount paid to them for a claim, and insurance dispute may happen.

What Should an Individual do if they have an Insurance Dispute?

The first thing one should do is have an in-depth talk with an attorney about the matter. The attorney will carefully review every single aspect of the claim to make sure that the person is being fairly compensated. They carefully review all of supporting documentation that has been submitted to verify that the compensation offered is not fact just. They walk through each individual step of the insurance dispute process with the attorney. The attorney’s goal is to make sure that the person gets fair compensation.

Should Companies Work with Insurance Dispute Lawyers?

Yes. Larger companies have more at stake. If a company is on the hook for a claim that went unpaid by the insurance company, it may be responsible for paying for the initial incident and subsequent other claims. The insurance dispute attorney can build a case for bad faith, which could prevent future claims from not being honored as prescribed in the contract. A successful case for bad faith can cover the amount of the claim and other losses incurred associated with the event. 

Purpose of a Northwest Arkansas Insurance Lawyer

Insurance companies aim to pay out as little as possible when it comes to insurance claims. Attorneys protect the claimant from being unfairly compensated for a claim. The insurance dispute attorney reinforces the terms of the contract and protects against loss for the claimant. If you need help with your defense or dispute with your insurance company, you should consider the Bassett Law Firm as an experienced resource that can help you. Contact us today by calling 479-521-9996 to set up an appointment.