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Lawsuit for ‘bad faith’
All insurance policies contain an implied obligation applicable to the insurance company of "good faith and fair dealing" towards its insured. When a claim is presented, this implied obligation means ...
Why does it matter that I give an adjuster my social security number?
Your Social Security Number is absolutely private, and protected. No one, other than a taxing authority, has a right to that number. That number is the "key" to your entire ...
Are there any options for resolving a dispute with my insurance company other than suing the company in court?Arbitration
Some insurance policies contain a provision allowing or requiring arbitration of certain disputes between the insurance company and the insured, and this may include disputes regarding certain types of claims. ...
Complaint to department of insurance
The insurance regulatory agencies of most states (usually called the "Department of Insurance" or similar name) have established procedures whereby consumers who believe they have been subjected to unfair claims ...
What are ‘exclusions’ and ‘limitations’ and how do they affect my coverage?
An "exclusion" is a statement in an insurance policy which describes a condition or type of loss that is not covered by the policy. An exclusion is an exception to ...
Are there any government agencies that regulate how insurance companies operate?
Insurance companies in the United States are regulated primarily by the individual states. There is no federal regulatory agency that oversees insurance companies. The name of the insurance regulatory agency ...
Why would someone need or be required to have insurance?
The purchase of insurance is usually done voluntarily based on an individual determination of need. In some instances, however, there may be a legal or contractual obligation to have a ...
Is a business required to provide health, life and other insurance coverage for its employees?
While many employers provide health insurance and other employee benefits for workers, the law generally does not require a business to do so. Most businesses provide these and other benefits ...
Are there legal limitations on insurance company business practices?
State insurance laws impose many requirements and limitations on the way insurance companies conduct their marketing, underwriting (determining which policyholders or risks to accept or reject for coverage) and rate ...
What is an insurance policy?
An insurance policy is a legally binding contract between an insurance company and the person who buys the policy, commonly called the "policyholder, who also is often the person insured. ...
Are there any limitations on what an insurance company can charge for insurance?
For each type of policy, insurance companies have a range of premium levels that may be charged based on various factors that are considered at the time an application is ...
What is an ‘insurable interest’?
A person has an "insurable interest" in something when loss or damage to it would cause that person to suffer a financial loss or certain other kinds of losses. For ...
Can an insurance company cancel my policy for any reason it chooses?
Once a policy is issued, the insurance company except for reasons specifically stated in the policy can not cancel it, and state laws usually limit what a company can include ...
What am I required to do when I have a claim?
Every insurance policy specifies certain duties that an insured must perform after a loss has occurred. The exact duties vary among different policies and will be different for property damage ...
Can I cancel my policy at any time and will there be a penalty?
As a general rule, a policyholder may elect to cancel an insurance policy at any time by giving notice to the insurance company. In some cases you may be required ...
Can an insurance company refuse to sell me insurance for any reason it chooses?
It is illegal to refuse to sell insurance to someone because of the person's race, color, sex, religion, national origin or ancestry. In many states this list of "prohibited classifications" ...
What happens when there is a claim?
Payment of claims is the reason that insurance exists, yet policyholders often perceive that insurance companies resist paying legitimate claims make the claims process unduly difficult. Both insurance companies and ...
If I miss a premium payment and get a cancellation notice, is there anything I can do to be able to keep the policy?
For property and liability insurance, a cancellation notice usually must be sent to the policyholder several days prior to the effective date of cancellation. The notice period will be stated ...
If I am sued, does my insurance company defend me in court?
When you buy liability insurance, part of the insurance company's obligation is to provide a defense for you if you are sued. The insurance company will do this by hiring ...
If I think certain words in my policy mean something different from what my insurance company says they mean, how do we resolve it?
The law recognizes that insurance policies are complex and that the insurance companies, which obviously have an unequal bargaining position with respect to their insured, write policies. For this reason, ...
If I am sued, can my insurance company settle the case without my consent?
Under most types of liability insurance, the insurance company has the contractual right to settle or defend the case as it sees fit. You normally will have an opportunity to ...
How does an insurance policy ‘protect’ me?
Insurance policies offer protection against economic loss, that is, loss or damage which can be measured in purely financial terms and compensated by money. For example, an insurance policy can ...
What is a ‘reservation of rights’ letter?
If you are sued, the legal complaint filed against you may state several different claims, some of which may be covered by your liability insurance policy and some of which ...
I have a friend who is an avid motorcycle rider and who particularly enjoys driving while drunk. Can I take a out a large insurance policy on him? My odds of collecting are higher than the lottery!
To get insurance on someone you need an insurable interest. Typically a spouse or a dependent of the applicant would have lost something if he died has an insurable interest. ...
What can I do when an insurance company refuses to pay a claim?
In some instances an insurance company will refuse to pay a claim submitted by its policyholder. This is often referred to as "denying" the claim. The claim may be denied, ...
We have a policy limit of $100,000. Does this mean that any medical bills, damages, legal fees, etc. That exceed that limit are my responsibility?
Your insurance company is only obligated to pay up to the policy limits in settlement or after a court judgment. However, if you actually go to trial and obtain a ...
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