Insurance Bad Faith Practices in Colorado
An insurance policy is a contract between the insurance company and the policyholder. In exchange for paying premiums and abiding by the rules of the policy, the policyholder can reasonably expect the insurance company to pay out valid claims, reimburse covered losses, and otherwise uphold its obligations and responsibilities.
When insurance companies fail to uphold their end of the contract, this is known as “acting in bad faith,” and affected individuals, including those represented by personal injury lawyers, can fight back.
Reach out to our law firm for a no-cost, no-obligation consultation today. Call our personal injury lawyers in the state of Colorado at (303) 999-9999 or contact us online.
If you believe that your insurance company or another insurance provider has acted in bad faith, reach out to Boesen Law today. Our Denver insurance bad faith attorneys can review your case and determine whether you have grounds for legal action. If necessary, we can even help you sue your insurance company and seek the fair monetary payments you are rightfully owed.
Schedule a free, in-person consultation with our team today; call (303) 999-9999 or contact us online.
What Is Insurance Bad Faith?
“Insurance bad faith” is a term used to refer to any attempts by an insurance provider to renege on its obligations to a claimant or policyholder, or any actual violations of such responsibilities by the insurance company.
Some examples of insurance bad faith include:
- Wrongfully denying a valid claim
- Refusing to pay for covered losses
- Denying a claim without providing a reason
- Failing to adequately investigate a claim
- Delaying the investigation or payment of a claim
- Delaying requests for approval of medical treatment
- Making unreasonable demands for documents, evidence, etc.
- Undervaluing a claim, i.e., paying less than the claim is worth
- Attempting to change a policy after a claim is filed
- Failing to properly communicate with the claimant
- Making threatening statements to a claimant
Insurance policies serve as an implied covenant of good faith, meaning insurance companies implicitly agree to honor the terms of the policy when policyholders also abide by these terms. Any violation of this implied contract could constitute bad faith practices.
What Damages Can Be Recovered in an Insurance Bad Faith Case?
When you file an insurance claim, you expect to be reimbursed for your covered losses, including medical bills, damaged property repairs, and lost wages, among others. If the insurance company wrongfully denies or delays your claim, you can be left facing significant financial hardships. This is especially true for victims of catastrophic injury or those with significant economic and/or non-economic damages.
Under Colorado law, insurers who are found to have acted in bad faith may be required to pay three times the amount in damages, as well as attorney fees and related costs. The law states that first-party claimants may be entitled to “two times the covered benefit” in addition to reimbursement for “reasonable attorney fees and court costs.” First-party claimants may also be entitled to damages related to breach of insurance contract, therefore equating to up to three times the amount in damages.
What to Do If an Insurance Company Is Acting in Bad Faith
If you believe that an insurance company is acting in bad faith, whether by delaying the investigation of your claim or refusing to pay your claim without providing a clear reason, you should contact an attorney with experience in insurance bad faith claims. You have the right to take legal action against an insurance company that is acting in bad faith, but it can be incredibly difficult to prove your case without the help of an experienced and aggressive attorney.
At Boesen Law, our Denver insurance bad-faith lawyers have decades of experience going up against major insurance companies. We are dedicated to protecting the rights of policyholders and claimants against the interests of insurance giants, and our long track record of success speaks for itself. We have earned a reputation for aggressive client advocacy, as well as compassionate, personalized legal counsel and guidance throughout the process.
We encourage you to refrain from speaking to anyone, including adjusters, from the insurance company without first discussing your case with an attorney. Reach out to our firm today to learn more, including how we can help you protect your rights and seek the fair compensation you are owed. We offer free initial consultations, in person or over the phone, and can assist you in English, Spanish, or Russian.
A Local Law Firm You Can Trust
Boesen Law is proud to be a local Denver law firm with a well-earned reputation for honest, trustworthy legal services. We have helped clients in all types of insurance bad faith cases, including claims involving wrongfully denied or delayed personal injury claims, property damage claims, homeowners’ insurance, commercial property and business insurance, wind damage, fire damage, flood damage, and more. No matter how complex or challenging your case may be, our team is ready to fight for you.
Our Law Office
5675 DTC Blvd., Suite 250, Greenwood Village, CO 80111
Phone: 303-999-9999
Reach out to our law firm for a no-cost, no-obligation consultation today. Call our personal injury lawyers in the state of Colorado at (303) 999-9999 or contact us online.
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