If your insurance claim has been wrongfully denied, you may be the victim of bad faith practices. Many situations can result in a bad faith insurance claim, including a delayed claim investigation or delayed payment of a claim. A bad faith action helps protect insured individuals when dealing with insurance companies. However, just be cause your claim has been denied does not mean you have a bad faith insurance claim. If you believe your claim has been wrongfully denied, contact an insurance law attorney today to determine if you have a valid bad faith insurance claim.
Louisiana Insurance Defense Lawyers
Since 1948, the New Orleans, Louisiana, based law firm of Bienvenu, Foster, Ryan & O'Bannon, L.L.C. has provided quality insurance defense services in cases throughout the state. Our clients are some of the most recognized names in the insurance industry. We have extensive experience with first and third party actions and have handled cases in nearly every category of insurance.
Contact our office to learn more about our services and how we can help you. You can reach us by phone at 866-459-6002 or via e-mail.
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Contact the New Orleans, Louisiana, based law firm of Bienvenu, Foster, Ryan & O'Bannon, L.L.C. to learn more about our insurance defense services and how we can help you.
The attorneys at Bienvenu, Foster, Ryan & O'Bannon, L.L.C. have extensive experience in a wide variety of insurance defense matters. Contact us to learn more about our firm and our services.
Filing Claims with Your Insurance Company
Typically, an insurance policy includes specific requirements insured individuals must follow to receive any proceeds from their insurance policies. Many people never read their insurance policies, only to be surprised later to find out they did not follow the required procedure to file a valid claim or that their coverage was not as comprehensive as they thought.
Notice and Timeliness
First, insurance companies usually require the insured party to give notice of any loss immediately to the insurer. Generally, an insured must inform the insurance company of his or her loss within a reasonable time. Prompt notice is important because it gives the insurance company the opportunity to investigate the claim and gather information while the circumstances surrounding the loss are fresh and recent. Prompt notice also means the insurance company is in a position to take additional steps to prevent future loss.
In addition, some insurance policies include time limitations, often set out by state statute. These restrictions disallow an action to be brought against the insurance policy after a specific period of time, such as one year, after the date of loss.
Proof of Loss
Insurance policies also generally require insured parties to file a "proof of loss" document with the insurance company. This document is usually a written statement, specifically describing the details of the loss. Insured parties must often swear and sign that the "proof of loss" document they create is truthful and accurate.
Appraisal
Often, particularly with damaged property, the property loss or damaged remaining property must be appraised, especially if the insurance company and insured cannot agree on the value of the property.
Subsequent Damage
Generally, property insurance policies disallow coverage for further damage to the property that results from the insured's failure to take reasonable steps to prevent additional loss. This limitation typically only applies if the insured has been negligent in protecting his or her property.
Maintain Good Records
It is important to keep good records of any major purchases or expenses related to insured products or claims. Examples of records to keep include receipts, appraisal documents, warranties, proofs of purchase, proofs of authenticity and other proofs of ownership.
Know Your Policy: Read the Fine Print
Many people never read their insurance policies, only to be surprised later to find out they did not follow the required procedure to file a valid claim or that their coverage was not as comprehensive as they thought. It is important to read your policy when you receive it and to make sure you understand the fine print and the steps you must take if you file a claim. If you have questions about your insurance policy or about how to file a claim to recover the compensation you deserve, contact your insurance company or call the attorneys at Bienvenu Foster Ryan & O'Bannon LLC in in New Orleans, Louisiana.
