Insurance companies hire insurance claims adjusters to evaluate property damage claims to determine the liability of the insurance company. Although the insurance adjuster’s job is to be thorough – completing an investigation on the claim by reviewing reports, examining damage and talking to eyewitnesses of the incident – many insurance adjusters just try to settle the claim quickly.
Because insurance adjusters work for the insurance company, their goal is to save the company money. This means that the adjuster will attempt to offer the insurer the lowest settlement possible under the policy.
One way insurance adjusters do this is by using aggressive bad faith tactics such as “take it or leave it” offers to scare people into settling fast. The goal is to make insurers believe that if they don’t take the settlement, they will lose any chance of getting another dime out of the insurance company.
Beware of Take It or Leave It Offers
These types of offers may sound like large offers at first, but when you factor in all of the damage costs, it usually is only the bare minimum they offer you. If an insurance adjuster offers you a figure and then says it is a take it or leave it final offer, you should leave it and talk with a skilled insurance litigation lawyer.
Most people don’t challenge insurance companies, and insurance companies know that. However, if you engage a Texas insurance claim attorney, you will most likely get a fair settlement. Insurance companies know that attorneys skilled in insurance litigation know their tactics, so they take the claim more seriously. Typically, insurance adjusters won’t use the take it or leave it strategy or other bad faith practices on knowledgeable insurance lawyers, because they know the lawyers are aware of these tactics.
So, you might ask, what is bad faith? Here are a few examples of other insurance bad faith practices insurance companies have used:
- When an insurance company interprets your homeowners’ insurance policy in their favor. Every insurance company knows that when there could be multiple interpretations of the policy, the interpretations should be to the favor of the insured.
- When an insurance company attempts to settle your property damage claim for less than what your policy says you are owed.
- When an insurance company doesn’t conduct a full investigation before denying a legitimate residential insurance claim.
- When an insurance company uses speculative information to deny a homeowner’s insurance claim.
If you would like to hire an experienced Houston insurance litigation lawyer for your Texas residential insurance claim, please call the Voss Law Firm today at 888-614-7730 for a free consultation. You can also request a complimentary copy of our book Disputes With Your Insurance Company – What All Consumers Need to Know.