Nevada Insurance Lawyer
Insurance laws, and insurance law attorneys, work with a myriad of insurances: life, auto, property and liability, business, disability, health, title, malpractice, workers’ compensation and long term care insurances. Most any type of insurance you can think of fits into one of these, likely, familiar categories.
Insurance companies, like any other business, follow laws pertaining to their type of business. There are many laws specific to the insurance industry including ones implemented to address consumer issue and to address the action of insurance company employees, agents and brokers. Some of these laws are intended to provide balance between insurance companies and the individual consumer.
For example, there are laws pertaining to the sale, content, underwriting, rate and claims payments. Though highly regulated, mistakes are still sometimes made and, unfortunately, an insurance company may engage in unscrupulous business practices. Lawyers that represent insurance consumers help identify when a mistake is made and when an insurance company may have taken advantage of a consumer.
Keep in mind, that if your claim has been denied, there should be an appeal process where a lawyer may be very helpful to you, whether they just explain it all to you or represent your interests during the appeal.
Wrongful Acts by Insurance Company
If you feel as though you have not been treated fairly by the insurance company or your claim has been wrongfully denied and you can’t work it out yourself, seek legal consultation from a qualified insurance law attorney.
Your attorney will examine the facts and advise you on how your situation may be remedied. Most often lawsuits regarding insurance issues involve breaches of contract. For example, if your insurance claim is wrongfully denied, the insurance company breached its contractual duty to reimburse you for your legitimate claims.
If the insurance company acted in bad faith (i.e. intentionally didn’t pay a legitimate claim as opposed to making a mistake) then it may be subject to punitive damages, which serve to punish the insurance company and encourage fair business practices.
In addition, regardless if you pursue a problem with your insurance company through a lawyer, you have the right to report abusive practices to the Nevada Department of Insurance.
What is umbrella liability insurance?
“Umbrella liability insurance” is liability insurance that sits on top of your homeowner’s (or renter’s) and auto insurances, like an umbrella. It raises your coverage to the purchased amount, such as one million or five million dollars. Umbrella liability insurance is also called “personal catastrophic” insurance.
Should I negotiate with the insurance company myself?
You may like your local insurance agent and get a kick out of insurance television commercials, but it is important to remember that your agent has little control over decisions made by the insurance company. At the end of the day, the insurance company is a business, just like any other.
Insurance decisions can be very complicated. It is reasonable to report an accident or a claim to your insurance company and you should be honest when dealing with your insurance company. If you have questions or are unsure about what the insurance company is doing, or why it is doing it, you should seek the advice of a lawyer, or other qualified professional, that deals with insurance companies regularly.
If you’ve been injured in an accident, consult with a personal injury attorney (i.e. negligence attorney or accidents and injuries attorney.) If you have an insurance claim denied, consult with an insurance law attorney.
Will my homeowner’s insurance cover my flooded basement?
If a pipe broke and flooded your basement, your homeowner’s insurance may cover the expenses of repairing the damage; however, if the water came from outside your house such as in the case of a storm or flooding, your homeowner’s insurance will most likely not pay.
Flood insurance is required to cover damage from floods like this; but its coverage is very limited. Be sure you understand the terms and coverage before you make a purchase. For example, flood insurance may not cover underground basements or the policy may require your neighbors to have also experienced flooding for your claim to be paid.
If an insurance company acts in bad faith, it can be subject to significant punitive damages. Punitive damages are damages that serve only to punish and deter bad behavior, not compensate you for a particular loss. Examples of bad faith are wrongful denial of claims, refusing to make a settlement offer, delaying payment of claims and making unreasonable policy interpretations.
An insurance contract is an agreement in which the insured pays an insurance premium and the insurer promises to pay covered losses if experienced.
Underinsured insurance is important insurance coverage that pays you if you suffer loss (i.e. injury or property damage) at the hands of another individual who does not have adequate auto insurance coverage to pay part or all of your claim. This type of insurance can be in addition to other insurance that you have and therefore have its own separate premium. Your own auto insurance company reimburses you for any losses above and beyond the limits of the negligent individual’s insurance coverage.