In order to understand insurance law, first you have to understand insurance. Insurance is a fancy word for a contract. You have a contract with the insurance company. In exchange for your hard-earned premiums, the insurance company promises to pay you in certain circumstances.
Important Terms to Know
- Policy: the contract itself which outlines the terms and conditions for payment in case of loss
- Benefit: the money or services provided in case of loss
- Insured: the person who receives the benefit
- Premium: the money the insured pays to the insurance company
- Claim: a request for benefits when a loss occurs
- Coverage: the types of losses that the insurance company will reimburse
In any type of insurance claim or dispute, both the insurance company and the claimant (the person who is insured) will likely face expensive and time-consuming negotiations and legal issues. The insurance company has an obligation to the people they insure to thoroughly investigate an insurance claim and make a decision based not only on the company’s financial interests but based on the financial interests of the individual as well. When this does not occur, this may qualify as “bad faith” and will require a skilled lawyer to protect the interests of the insured.
As a former owner of an insurance adjusting company, insurance lawyer Fred Millard is qualified to fully investigate a claim for the best possible outcome. His knowledge of all types of insurance and the specifics of insurance policies is how you can avoid an expensive and lengthy trial and ensure your future is protected.
We work with all types of insurance issues, including:
- Residential Property Claims
- Commercial Property Claims
- Bad Faith Issues
- Property Liability Issues
- Improper Settlement Issues
- Insurance Litigation
If you are facing any type of insurance dispute or legal issue, we may be able to help you. Don’t rely on what insurance companies tell you. Contact us today to discuss your claim situation and how we might be able to help.