01 Dec What to Do if Insurance Does Not Pay
What to Do if Insurance Does Not Pay
Insurance coverage exists for all sorts of things and, as consumers, we purchase this insurance for protection. But what do you do when the insurance company fails to honor their coverage agreement? I recently read about a case where a woman paid for insurance coverage at a public storage facility. Her items were stolen, so she made a claim under the insurance policy. The insurance company refused to pay the full amount of the claim, instead offering about 80% to satisfy the claim. She sued the insurance company and ended up receiving many times more than she would have received had the insurance company properly paid her claim. It turns out the insurance company was intentionally shortchanging this woman and many other customers, just to save a few dollars.
What is the takeaway from this story? Whether you have a homeowners, auto, or any other type of insurance claim, if you feel the insurance company is not treating you right or is not offering you the proper amount for your claim, it may be worth consulting with a lawyer to determine if the insurance company may be liable for vexatious refusal to pay. Unfortunately, these claims against insurance companies happen all the time. When you pay for insurance coverage, you expect the insurance company to hold up their end of the bargain because they had no problem taking in your insurance premiums. If you need to make an insurance claim for any reason, please contact our firm for advice!
Tarun B. Rana, Esq.
Rana Law Group
655 Craig Road, Suite 252
St. Louis, MO 63141