South Jersey Bad Faith Insurance Lawyer
You might assume that when you purchase an insurance policy from a seemingly reputable insurance company that they will promptly pay claims when submitted. Not always! When an insurance company fails to pay a covered claim, fails to settle a case within policy limits exposing the insured to personal liability, or unreasonably delays the payment of a covered claim, the insurer is acting in bad faith. Insurance is big business. Insurance companies take in hundreds of billions of dollars in premiums every year. They make money by investing those proceeds. The longer they retain the money, the more they make on their investments. Thus, from a purely financial standpoint, the insurer has an incentive to delay the payment of claims.
Serving Atlantic City, Marlton, Cherry Hill, Vineland, Bridgeton, Millville, Camden, Trenton
However, when an insurance company fails to meet its contractual obligations, the financial consequences can be devastating. Businesses and individuals rely upon having the use of their assets and they purchase insurance to protect against risks to their assets. When an insurance company fails to pay a covered claim, or delays the payment of such a claim, businesses can fail, people lose their jobs, individuals can be subjected to personal liability, and the well being of families is jeopardized. An experienced South Jersey bad faith insurance lawyer like myself can help! The law provides a remedy under a doctrine known as insurance bad faith law. Pennsylvania law is more favorable to policy holders than New Jersey but New Jersey does offer common law remedies to protect insureds or victims of someone else’s negligence where the claim is being defended under a policy of insurance. An insurer who fails to pay a covered claim or unreasonably delays the payment of a covered claim can be held responsible not only for the amount of the claim but for punitive damages as well. Both the law and judges who enforce the law look dimly on insurance companies who fail to meet their obligations to an insured. Simply stated, you cannot take premiums and then fail to pay claims.
If you believe that you have been mistreated by your insurance company or a negligent Defendant’s insurance company, please call me, Joseph Monaco, Pennsylvania and New Jersey Bad Faith Insurance Lawyer, for a Free Consultation! Call 215-546-3166 or in PA or 609-277-3166 in NJ.
Bad Faith Insurance Cases
Over the years insurance bad faith cases have resulted in financial recoveries. Some of the bad faith case types include:
- fire insurance
- health coverage
- general liability
- no fault insurance
- vexatious refusal
- insufficiently high coverage
- policy exclusions
- material misrepresentation
- accident insurance
- automobile coverage
- coverage denial
- cancer insurance
- commercial insurance
- disability insurance
- excess verdicts
- failure to defend
- health insurance
- homeowners insurance
- life insurance
- workers’ compensation
Contact An Experienced New Jersey Bad Faith Insurance Lawyer
Call me, Joseph Monaco, for a South Jersey Bad Faith Insurance lawyer. Free consultation by calling 888-992-3166. I am a Second Generation Trial Lawyer keeping up my family’s tradition of fighting for the underdog by taking on the big insurance companies.
