Most Americans have several insurance policies. The law requires us all to carry auto insurance as a condition of owning a car, and additional coverage is required to protect the lender if there is a loan on the car. Homeowners also must carry insurance if they are paying a loan on their property, and most prefer to keep the policy active even when the note is paid in full. In both cases, paying insurance premiums is supposed to protect our assets and to provide for anyone who is injured because of some error or oversight on the part of the insured. Also, many workers, and especially highly paid professionals, are covered by short and long term disability policies, to protect them in the event of a serious illness preventing them from working.
What Insurance Companies Want
The insurance companies tell us that they’re “on your side,” or that with their company, “you’re in good hands.” And we expect that to be true. When an accident occurs, and you’ve been paying those premiums faithfully, you naturally assume that you, or someone to whom you’re liable for injuries, will be taken care of promptly.
Unfortunately, that is not always the case. You may be in the habit of thinking that your insurance company is your friend and ally and will have your back when the need arises, and of course their extensive marketing efforts are designed to promote that belief. But you need to understand that you and your insurance company are not the equivalent of the proverbial goose and gander, where what’s good for one is good for the other. When it comes to your insurance company, what’s good for you and what’s good for them are not the same—quite the opposite, in fact.
When you make a claim, you and your insurer, in effect, become adversaries. Their reason for existence is not helping their policyholders to weather an accident or other adverse event; it is making profits for their shareholders. They make enormous profits by taking in billions of dollars in premiums and paying out as little as they possibly can. And that means that it is in the company’s best interest to deny as many claims as possible. Sometimes they play by the rules and look for a valid reason before denying the claim. But some insurers deny, delay, and undervalue claims routinely on the slightest excuse, often a trumped-up one.
What Is “Bad Faith” and How Does it Affect Us?
In these cases, the company is said to be acting “in bad faith.” When this happens, a policyholder may suffer losses that lead to financial disaster, or a person who suffered severe injuries, for which the policyholder is liable, will be left without funds to cover medical expenses, lost earnings, and non-economic damages. If this happens, the injured person may go after the policyholder’s assets, to the detriment of the individual who paid so much in premiums, and the family he or she cares for.
How do insurers often get away with these tactics, when they have a legal responsibility to investigate and pay valid claims promptly? The answer is that many people think they simply have to accept the insurance company’s decision without a fight. Not true! If you are a victim of insurance company bad faith, you may have legal recourse against them. With the help of a Rhode Island insurance bad faith attorney, you may be able to force your insurer to pay your claim, and you may even get more than the original value of your claim by adding on punitive damages, punishment for their illegal behavior in avoiding to pay your legitimate claim.
Fight Back with a Rhode Island Insurance Bad Faith Lawyer
If you have filed a legitimate claim with your auto, property insurance, or disability insurance company and:
- It has been ignored
- It has been denied
- It is taking forever
- The company keeps asking for more documentation, and demanding documentation you’ve already provided
- You’ve been offered an insultingly small settlement
then you should consider consulting an experienced insurance bad faith attorney.
The Right Choice of Insurance Bad Faith Lawyers in Providence
In Providence, you’ll find the help you need for your personal injury case at the Resmini Law Firm, where we have been successfully fighting insurance companies for more than forty years. Our attorneys have all been designated as “Super Lawyers” or “Rising Stars” by Super Lawyers Magazine. Ronald J. Resmini has earned the highest possible rating from Martindale-Hubbell and is a member of the Million Dollar Advocates Forum. We have secured millions of dollars in compensation for our clients from insurance companies, both in and out of court.
We know the law, and we know how to use it to motivate these companies to do the right thing by their policyholders, and when they don’t we take it to court. We are top-notch trial attorneys who know how to present a well-prepared case to a jury and bring in fair verdicts for both compensatory and punitive damages, by showing that the company failed to handle your claim in good faith.
Call today for a free consultation. Time is limited by state law, so don’t wait. Pick up the phone and call us now at (401) 751-8855.