For many Kentucky families, having adequate insurance coverage is critical to protecting their financial future and facilitating recovery in the wake of unforeseen disasters. However, more often than not, people do not fully understand the details of their insurance policy. Failure to take the time to become educated on the type of coverage a person has, can create considerable confusion that could end up resulting in costly consequences if an emergency occurs.
Understanding declaratory judgment and insurance
Perhaps you have heard of declaratory judgment in regards to insurance claims in the past. While a seemingly confusing and complicated topic, your efforts to understand it better may make a considerable difference if you are ever involved in a disputed claim. At Fowler Bell, we have significant experience in working with insurance and are familiar with the unique challenges of the industry in Kentucky.
Mediation may be used to resolve insurance disputes
When people in Kentucky have a dispute with an insurance company, they may feel at a disadvantage and determine that they can only get fair representation by going to court. However, the Kentucky Court of Justice often advises a solution that may be much more effective and efficient: mediation.
What is required for a bad faith claim?
Dealing with an insurance company, regardless of the reason, can often be challenging. Insurance companies in Kentucky are usually focused on finding ways to make money and not pay it out. When it comes to claims, they will investigate thoroughly to ensure they do not pay out when they are required to do so. Even though most companies are honest and will pay you when you are entitled, you may run into a situation of a bad faith claim.
Why Kentucky courts ruled against a third party bad faith claim
When people file a claim with their insurance company in Kentucky, they may assume that the adjustor will review the circumstances, and they will receive the coverage that is their due. A claim denial or a much lower payment may be a shock, but these do not necessarily indicate that someone has been treated unfairly.
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