When purchasing a property insurance policy, customers pay premiums in exchange for peace of mind in the event of a disaster. The insurance policy transfers the risk of loss to the insurer and the insurance company is supposed to pay out claims in the event of damage to the property.
One of the biggest disasters to hit New Jersey was Hurricane Sandy, one of the costliest hurricanes in U.S. history. Instead of paying claims for home repairs and assist businesses with resumed operations, insurance companies have used unfair delay tactics, denied legitimate claims and significantly undervalued losses. This has left many home and commercial property owners in New Jersey in a seemingly helpless position.
Fortunately, the laws do not allow insurance companies to behave in a dishonest way toward the insured. However, to make an insurer pay when acting in bad faith, it is necessary to take legal action. A New Jersey Hurricane Sandy insurance bad faith attorney at Doyle can help.
Promise of Good Faith and Fair Dealing
In New Jersey and elsewhere, an insurance company must act in a fair manner when evaluating claims. The promise is referred to as a guarantee of “good faith and fair dealing,” and when an insurance company does not live up to it and acts in a wrongful or unfair way, then the insurer is said to act in “bad faith.”
An insurer acts in bad faith when it is unreasonable in denying legitimate claims or when it otherwise refuses to provide reasonable coverage for a loss that an insurance policy should cover. A lawsuit can be filed against an insurance company that acts unreasonably or in bad faith, and a New Jersey Hurricane Sandy insurance denials attorney can help.
A bad faith lawsuit can result not only in an insurer being obligated to pay the claim, but also in being required to pay additional damages. Sometimes, the money that the insurance company has to pay out for acting in bad faith can be greater than the amount of money the insurance policy was supposed to cover.
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A New Jersey Hurricane Sandy insurance bad faith lawyer can force an insurer to honor their obligation to good faith and fair dealing through litigation. Unreasonable denials and unreasonably low payout offers can constitute bad faith. An extensive and unjustified delay can also be considered bad faith, and an insurance delays attorney can compel an insurer to act in accordance with the laws that govern the industry.
Doyle LLP is uniquely qualified to handle bad faith claims since we have represented clients throughout the United States whose insurers treated them wrongfully after violent weather events. Call us at (888) 571-1001 or contact us online to schedule a free consultation today.