NEWS
The Perils of Liability
By Michael Ehline
Many companies go back and forth on the type of insurance to carry on their property. Parents want the best type of insurance for their kids before they get behind the wheel of a car. There are many varieties of insurance and more companies willing to sell it to you. However, many of these companies instead sell a bill of goods. In some cases, some of the largest insurance companies also rook their own policy holders. State Farm was slapped by multiple lawsuits recently for doing such that. Companies from large to small are not immune fromt he allure of greed or incompetence. A discerning consumer will be able to make the best of the situation.
Bad faith insurance actions are more common that you think. Not honoring the policy signed by both parties is a breach of contract and a violation of the consumer’s rights. Whether it be car, home, or business insurance, they’re taken out in case of an emergency. The policy holder depend on it when they need it the most. To pull out the rug on accident victims or a business owner being sued at that moment is often cruel and unexpected. We see such things happen every day.
To avoid such a situation, it is important to weigh the many factors of an insurance policy. Research that company’s record with consumers and watchdog groups. Have they been cited by local, state, or federal agencies for refusing to live up to their obligations? Are they frequently involved in litigation? All of these help you make up your mind and get the best possible policy for the worst possible moment.
Many companies go back and forth on the type of insurance to carry on their property. Parents want the best type of insurance for their kids before they get behind the wheel of a car. There are many varieties of insurance and more companies willing to sell it to you. However, many of these companies instead sell a bill of goods. In some cases, some of the largest insurance companies also rook their own policy holders. State Farm was slapped by multiple lawsuits recently for doing such that. Companies from large to small are not immune fromt he allure of greed or incompetence. A discerning consumer will be able to make the best of the situation.
Bad faith insurance actions are more common that you think. Not honoring the policy signed by both parties is a breach of contract and a violation of the consumer’s rights. Whether it be car, home, or business insurance, they’re taken out in case of an emergency. The policy holder depend on it when they need it the most. To pull out the rug on accident victims or a business owner being sued at that moment is often cruel and unexpected. We see such things happen every day.
To avoid such a situation, it is important to weigh the many factors of an insurance policy. Research that company’s record with consumers and watchdog groups. Have they been cited by local, state, or federal agencies for refusing to live up to their obligations? Are they frequently involved in litigation? All of these help you make up your mind and get the best possible policy for the worst possible moment.