How It Works
Many insurance companies utilize specially designed software that enables them to generate an estimate for the cost of your repairs quickly. Typically, these estimates include the actual cash value of your damages, the replacement cost value, and the depreciation of such costs. Insurance adjusters that are looking to reduce the costs incurred by their company may be apt to engage in unethical practices that skew the numbers reported to you. Questionable practices among insurance companies across the nation have caused attorneys to take notice.
Many of these insurance companies have taken to improperly applying the depreciative value of a repair to reduce the costs for which they would otherwise be responsible. Other methods enforced by some insurance adjusters include "accidentally" failing to cover certain expenses connected to the end estimate and refusing to make any payments to an insured individual until that individual has paid the company.
One of the biggest insurance claim issues among adjusters right now is the tendency to underpay the individuals they represent. Many underpayments directly result from the abusive malpractices described above. Unfortunately, because the end results of such practices are not large enough to justifiably file a lawsuit against the insurance company, many policy holders eat the difference. This does not have to be the case.
With the help of an attorney, individuals who were victimized by their insurance companies can work toward legally holding the company responsible for their underpayments. Although it may be difficult to make a legal issue out of the underpayment of an individual policy holder, it can be significantly more effective when multiple insured parties unite to do so together. Bringing a class action against an insurance company can better ensure that your underpaid claim is recognized and repaid as it should have been in the first place.
If Your Insurance Claim Was Underpaid, Contact Arnold & Itkin Today
Insurance companies that enact practices of bad faith always do so on a gamble. Adjusters rely on the hope that policyholders will not take legal action against their abusive behaviors, and because so many don't, the adjusters get away with malpractice far too often. Don't let your insurance company take advantage of you in the same way. If your claim was denied, delayed, or underpaid in any capacity, you should not wait speak with an attorney. Arnold & Itkin will gladly review your case completely free of charge and help you move forward with a lawsuit.
Contact our office today at (888) 493-1629 to request a free initial consultation!