Trusted Legal Avice for Insurance Litigation
People purchase insurance for many different reasons. Owners of residential and commercial properties may purchase insurance in the event that their premises become damaged. Motorists purchase auto insurance in the event that they are involved in an accident. Business owners purchase insurance to protect themselves from liability if someone becomes hurt on their premises.
Insurance is really just a contract. The policyholder pays regular premiums to maintain the insurance. In exchange, the insurance company promises to provide the necessary coverage if it is ever needed. While insurance companies are heavily regulated by the Florida Office of Insurance Regulation, they do not always treat policyholders fairly. In these instances, policyholders must sometimes enter litigation to ensure their rights are upheld.
What is Bad Faith?
Bad faith in insurance practices refers to insurance companies that refuse to treat policyholders fairly. They may unjustly deny a claim, delay a claim, or fail to respond to a claim in the time dictated by law. Insurance companies engage in bad faith practices for many reasons. Mainly, they want to protect their own profits by avoiding payouts on claims. They also often hope that policyholders will grow weary of the process and give up. When insurers prioritize their own bottom line over the rights of policyholders, they can be held liable.
First Party Lawsuits
First party bad faith lawsuits occur when policyholders file suit against their own insurance carrier for failing to cover a loss provided for in the insurance policy. For example, a homeowner may file a claim with their homeowners insurance policy after suffering water damage. If the insurance company does not treat the policyholder fairly and refuses to pay out on the claim, even though the contract includes coverage for it, the policyholder can file a first party lawsuit against the insurer.
Third Party Lawsuits
First party bad faith lawsuits occur when policyholders file suit against their own insurance carrier for failing to cover a loss provided for in the insurance policy. For example, a homeowner may file a claim with their homeowners insurance policy after suffering water damage. If the insurance company does not treat the policyholder fairly and refuses to pay out on the claim, even though the contract includes coverage for it, the policyholder can file a first party lawsuit against the insurer.
Our Insurance Litigation Lawyer in Miami Can Help with Your Lawsuit
If an insurance company has not treated you fairly, you may be able to take legal action against them. Filing first and third party lawsuits is never easy, though. At Jimenez Mazzitelli Mordes, our Miami insurance litigation lawyer can advise you of your rights and ensure they are protected so you obtain the most favorable outcome possible. Call us today at 305-548-8750 or contact us online to schedule a consultation and to learn more about how we can help.
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