Did the insurance company refuse to pay your claim without a valid justification in Lakewood, CO? Does it seem like the insurer is searching for ways to delay paying your settlement? You may be dealing with bad faith insurance practices. An experienced Lakewood bad faith insurance lawyer at Matos Personal Injury Lawyers can help you fight for justice.
Our lawyers have over 39 years of experience helping people like you–and we’ve already recovered millions of dollars in settlements and verdicts for our clients.
To learn more about how we can help with your claim, call our law offices in Lakewood, Colorado at (720) 912 7274 to schedule a free consultation today.
Why Should I Trust Matos Personal Injury Lawyers To Handle My Bad Faith Insurance Claim in Lakewood?
When you file an insurance claim, you expect to be paid. You’ve done everything right and maintained your insurance for when the worst happens. You shouldn’t have to fight to get what’s fair.
Unfortunately, not all insurance companies handle claims in good faith. It can also be tough to know whether they’re breaking the rules. You deserve to have an experienced Lakewood personal injury attorney on your team.
If you think the insurance company is taking advantage of you, our lawyers will:
- Investigate and gather evidence to prove your case
- Contact the insurance company on your behalf
- Calculate the value of your losses
- Identify the best avenue for taking legal action
- Hire expert witnesses as needed to support your claim
- Negotiate for a full settlement
- Advocate for your rights before a judge and jury if the insurance company refuses a fair settlement
The insurance company has the upper hand when it comes to insurance negotiations. Fortunately, our Lakewood personal injury lawyers also handle insurance claims on a daily basis, so we can even the score.
We’re prepared to stand up to the insurance companies on your behalf. To learn more about your options and how we can help, call for a free case review today.
What Are Bad Faith Insurance Practices?
An insurance policy is a contract like any other. However, insurance companies have an undeniable advantage when you file an insurance claim. They’ve actually created the insurance claims system. Because you’re in an unequal position, there’s always the possibility that the insurance company will take advantage.
That’s why insurance companies are subject to strict regulations. Under Colorado law, the insurer must deal with policyholders in good faith during the claims process.
Many different types of acts can amount to “bad faith” insurance practices. Broadly speaking, an insurance company acts in bad faith when they unreasonably deny, undervalue, or delay your valid insurance claim.
What Are Some Examples of Bad Faith Insurance Practices in Colorado?
You may have a valid bad faith insurance claim if the insurance company:
- Failed to investigate your claim in a reasonable timeframe
- Created unnecessary or artificial delays
- Authorized your claim but failed to pay your settlement in a reasonable amount of time
- Lied about or misrepresented the terms of your policy
- Failed to respond to your calls, emails, or other communications
- Denied your claim without stating a valid reason
- Changed the terms of your policy after you submitted your claim
- Tried to pressure you into accepting an unreasonably low settlement offer
- Engaged in discriminatory practices
- Failed to adopt reasonable standards for the prompt settlement of claims
These are just a few examples of bad faith practices. You may not know whether you have been a victim of bad faith insurance dealings–but you probably suspect that something isn’t right. Our lawyers in Lakewood offer free case reviews, so reach out to us today and tell us what happened.
Overview of the Bad Faith Insurance Laws in Colorado
In Colorado, you have three options to hold the insurance company accountable for bad faith insurance dealings:
- Statutory bad faith insurance lawsuits
- Common law claims
- Breach of contract claims
Depending on the facts, it’s possible that you may have multiple legal options.
Statutory Bad Faith Insurance Lawsuits
Colorado insurance laws give policyholders the right to hold insurers accountable for bad faith practices. When insurance companies violate the law, you can sue for damages.
To recover compensation, you must prove three basic elements:
- You had a legitimate insurance claim under the policy in question
- The insurance company denied or delayed that claim
- There was no reasonable or legitimate reason to deny or delay your claim
The statute itself gives detailed examples of when you may have a valid statutory bad faith insurance claim.
The best way to know whether you have a case is to consult an experienced Lakewood bad faith insurance attorney. Once we understand the facts, we can help you understand your legal rights under the law.
Common Law Bad Faith Insurance Claims
Common law claims are similar to personal injury cases. Instead of suffering damages in the form of physical injuries, your damages are typically financial in these cases.
In other words, common law cases are based on the insurer’s negligent or wrongful acts.
To win, you must show that the insurance company both:
- Was unreasonable in denying, delaying, or undervaluing your claim
- Knew their actions were unreasonable or recklessly disregarded the fact that their actions weren’t reasonable
If you can prove your case, you can recover damages to compensate for the full value of your losses.
Breach of Insurance Contract Claims
As with any contract, each party has the right to enforce the agreement. As long as your claim is valid and the insurance contract is in force, the insurance company should hold up their end of the deal.
To prove a breach of contract claim, you must prove:
- The insurance contract was valid and in force
- You satisfied all duties under the contract
- The insurance company acted in bad faith, so breached their duty under the contract
- You suffered some type of damages as a result
If you can prove these elements, the courts can force the insurance company to pay the full value of your insurance claim.
When Might the Insurance Company Have a Legitimate Reason To Deny My Insurance Claim?
Insurance companies are required to act in good faith, but they don’t have to blindly pay every claim.
Insurance companies can validly deny insurance claims if:
- You didn’t pay the premiums and allowed the policy to lapse
- The risk or individual wasn’t covered under the policy’s terms
- You didn’t respond to good faith and reasonable requests for additional information
- The insurance company reasonably needed more time to investigate
- A legitimate dispute as to liability existed
- You didn’t file your claim in a reasonable amount of time or missed a deadline
When an insurance company denies your claim, they must give you a reason. When they don’t, there’s reason to be suspicious.
What Types of Damages Are Available to Victims of Bad Faith Insurance Practices in Lakewood?
Under Colorado law, you have the right to take legal action against the insurance company. The remedy is financial compensation.
If your case is successful, you can recover damages for:
- The full value of your insurance claim
- Two times your covered insurance benefit
- Reasonable attorneys’ fees and court costs
Additional damages may be available in breach of contract and common law claims based on negligent or wrongful acts. It’s possible that you may be entitled to additional compensation for your non-economic damages, including emotional distress or pain and suffering.
Our Attorneys in Lakewood Handle All Types of Bad Faith Insurance Cases
People in Lakewood buy insurance for all different reasons. Similarly, Colorado bad faith insurance laws apply to insurers that sell all different types of insurance.
At Matos Personal Injury Lawyers, we handle all types of bad faith claims, including those based on:
- Property insurance
- Homeowners insurance
- Renters insurance
- Fire insurance
- Flood insurance
- Car insurance
- MedPay coverage
- Health insurance
- Life insurance
- Commercial liability coverage
- Business liability insurance
- Workers’ compensation insurance
- Disability insurance
- Professional liability insurance
If the insurance company is playing games, contact our law firm today. We’ll evaluate your case for free and discuss options for holding them accountable.
How Much Time Do I Have To File a Bad Faith Insurance Lawsuit in Colorado?
The statute of limitations on bad faith insurance claims is two years in Colorado. The two-year clock starts to run on the date you knew, or reasonably should have known, about the insurance company’s bad faith actions. For breach of contract claims, you have three years from the date of the breach.
Insurance cases can be confusing, and there are some exceptions to these time limits. It’s never too soon to seek legal advice to make sure you preserve your right to take legal action.
Call an Experienced Lakewood Bad Faith Insurance Lawyer for a Free Consultation
Our team at Matos Personal Injury Lawyers has the tools and experience to help you get a full settlement. If you were a victim of improper insurance dealings, call a Lakewood bad faith insurance lawyer today. We offer free initial consultations.