It is in the very nature of accidents to be unpredictable. There is no way to account for when an accident will exactly occur nor is it possible to precisely name how it will turn out. As a result, the public is constantly urged to practice vigilance and awareness to ensure that any risk is properly reduced. One of the ways the public is encouraged to do this is by setting up insurance policies that can cover for damages and injuries arising from accidents. Any catastrophic accident is sure to leave individuals vulnerable in many different aspects. Preparing for the possible financial issues caused by such incidents can go a long way in ensuring that damages and injuries are properly addressed.
Holding an insurance policy is considered to be among the most important steps to take to prepare for accidents. Unfortunately, there are some policy holders that fail to receive appropriate compensation for their valid claims. While it is often sought as the best back-up plan to any untoward event, having an insurance policy doesn’t necessarily guarantee financial assistance. With select insurance providers failing to provide proper payments to their clients, insurance bad faith remains an existing issue. Even those who have opted to pay higher premiums fall victim to the industry’s cracks. According to the Jeff Sampson Law Firm, of the most notable instances of insurance bad faith include delayed claims, denied claims, reduced claims, and insurance fraud.
All in all, any act of insurance bad faith is considered a gross violation of both the implied and legal agreement between insurance providers and policy holders. It is an unfortunate reality that there a number of dubious insurance providers that are far more interested in safeguarding their own interests rather than those who are paying for their services. Those thinking of purchasing insurance policies should look out for dodgy practices such as false advertising and exaggerating or misrepresenting the insurance policy plan that may suggest more troubles down the road.