Fort Collins Insurance Lawyer
Insurance companies face lawful requirements to exercise good faith and fair dealing with regard to processing and evaluating policyholder claims. When insurance companies act in bad faith, those insured may file a claim to be compensated for any losses incurred. If you believe that you have been the victim of insurance bad faith, contact the Fort Collins car accident lawyers at Cannon Law, today to schedule a free case evaluation. Our Fort Collins bad faith insurance lawyers help victims of bad faith insurance gain compensation for the harm they suffered.
Fort Collins Bad Faith Insurance Attorney Resources
- Why Choose Us?
- What Is a Bad Faith Insurance Claim?
- Examples of Bad Faith Insurance Under Colorado Law
- What Is the Statute of Limitations to File a Bad Faith Insurance Claim in Colorado?
- Can I File a Claim if I Have Missed the Statute of Limitations?
- What Can I Do if My Insurance Claim Has Been Denied or Delayed?
- Why You Need a Fort Collins Insurance Attorney
Why Choose Us?
- We utilize a team-based approach that uses everyone’s strengths together to achieve the best possible outcome for your case.
- We offer a tailored approach, recognizing that each case is unique. We work with each client to establish goals and keep you informed throughout the process.
- We offer our services on a contingency-fee basis. In other words, you’ll never owe legal fees unless we win a court judgment or achieve a settlement on your behalf.
What Is a Bad Faith Insurance Claim?
Insurance companies all have a duty to exercise good faith under state law. In other words, the law requires them to put the insured’s needs above their own and find a reason to pay out a claim if one exists. If an insurance company unreasonably denies coverage when it should exist, then it acts in bad faith and may be liable for any damages that result. In short, your insurance company has to look after you throughout the claim process.
Examples of Bad Faith Insurance Under Colorado Law
Bad faith insurance laws are extremely complex. However, the Revised Statutes of Colorado outline common examples of bad faith insurance, which may include the following:
- Misrepresenting the facts of an insurance policy
- Failing to act upon communication from the insured
- Failing to assure or deny coverage within a reasonable timeframe
- Refusing to pay claims without a reasonable investigation into the facts
- Failing to effectuate a fair and proper payout when liability is clear
- Attempting to settle a claim for less than what’s due
- Attempting to settle a claim based on an altered application
- Unreasonably delaying payment based on requiring unreasonable documentation
Colorado uses both statutory and relevant case law to handle these types of cases. In other words, the courts will look at both relevant statutes and how previous cases worked in the past to determine if insurance bath faith occurred.
Colorado law allows policyholders to collect twice the unpaid benefit on top of the benefit itself, plus the cost of any attorney’s fees in the event an insurance company acts in bad faith.
What Is the Statute of Limitations to File a Bad Faith Insurance Claim in Colorado?
A bad faith insurance claim seeks financial compensation for the wrongdoing committed by an insurance company. It aims to hold the insurer accountable for its misconduct or the laws that it broke. A successful insurance bad faith lawsuit in Colorado could pay you for related losses – such as inconvenience and legal fees – to penalize the insurer, in addition to a fair payout for your original claim. You must follow all of Colorado’s relevant laws when filing your lawsuit, however, to have a valid claim. This includes the statute of limitations.
The statute of limitations is a law in Colorado that places a strict deadline of two years on the ability to file a tort claim for bad faith insurance. If you wish to file this type of claim in Fort Collins or anywhere in Colorado, you must do so within no more than two years from the date of the insurance company’s misconduct. If you are not sure when this date is – the exact date that you became a victim of insurance bad faith – an attorney from Cannon Law can investigate for you to determine your precise time limit.
Can I File a Claim if I Have Missed the Statute of Limitations?
In general, you cannot file a bad faith insurance claim if you missed your statute of limitations. The courts in Colorado almost always refuse to hear a claim that is filed after the filing window has expired. Even if the courts allow the claim to be filed, the defendant will most likely use the missed statute of limitations as an argument against liability. This is why it is critical to contact an attorney as soon as possible after experiencing insurance bad faith.
However, there are exceptions. One is the discovery rule. There are some scenarios when a victim does not discover his or her injury or loss until a date after the tort occurred. In a case of insurance bad faith, for example, you may not realize that the insurance company is violating its obligation of good faith to you until days or weeks after receiving a low settlement offer or rejection letter.
The discovery rule tolls, or pauses, the statute of limitations to two years from the date of discovery rather than the date of the misconduct. Other exceptions may also apply to your case, so speak to an attorney before you assume that you have already missed your chance to hold an insurance company accountable.
What Can I Do if My Insurance Claim Has Been Denied or Delayed?
If you filed an insurance claim in Fort Collins only to receive a letter notifying you that the company denied your claim, or if you received an inadequate settlement offer or believe that the insurer is unnecessarily delaying your payout, there are steps that you should take to protect your rights as a claimant. These include:
- Request the reason for the denial. If you did not already receive an explanation for the denial, ask the insurance company for its reason. It may be something that you can remedy, such as a lack of documentation or a misunderstanding.
- File an appeal. You can file a request for an internal appeal, which means that the insurer will conduct a full review of its decision. You can also take the appeal to an independent third party for an external review. In this case, the insurer will no longer have the final say in the outcome of your claim.
- Hire a Fort Collins bad faith insurance attorney. You also have the right to hire an attorney to represent you. Your attorney can communicate with the insurance company for you to determine the reason for the delay or denial, as well as help you with an appeal.
You may be a victim of bad faith insurance if your claim gets unreasonably denied or delayed in Colorado. If so, an attorney from Cannon Law can help you hold the insurer accountable. Our attorneys will take over your case and use proven legal strategies to achieve the best possible results on your behalf. Start by requesting a free case consultation at our local Fort Collins law office.
Why You Need a Fort Collins Insurance Attorney
Bad faith insurance involves complex matters of law. Further, insurance companies know that the average policyholder has little knowledge of bad faith insurance and will often use this fact to their advantage to pay out less on claims. Sometimes, the simple act of getting an attorney involved will encourage the insurance company to take a claim more seriously.
The insurance attorneys at Cannon Law, work closely with Fort Collins families to assure fair compensation for legitimate insurance claims. If you believe you are receiving the runaround from your insurance company, you might be the victim of insurance bad faith. Our firm has a demonstrated track record for success with these types of cases and hold insurance companies accountable for the money they owe to their policyholders. Contact us to schedule a free review of your legal options today. We offer our services on a contingency-fee basis, so there’s no risk in retaining our services.