Navigating Colorado's Insurance Bad Faith Laws
When you purchase insurance, you trust that your insurance company will honor their obligations and act in good faith. Unfortunately, there are instances when insurance companies may deny, delay, or undervalue valid claims, leaving policyholders in a vulnerable position.
Colorado recognizes the duty of insurers to act in good faith and deal fairly with policyholders. The Colorado Revised Statutes, particularly C.R.S. § 10-3-1115 and C.R.S. § 10-3-1116, outline specific provisions related to insurance bad faith. These laws provide policyholders with legal recourse and financial compensation when their insurance companies act in bad faith.
At Rex Legal, we are committed to protecting policyholders' rights. If you suspect your insurance company is acting unfairly or in bad faith, contact us for a free consultation. We'll help you understand your rights, navigate the legal process, and seek all available justice and compensation under Colorado law.
Steps to Take if You Suspect Insurance Bad Faith
1. Review Your Policy: Familiarize yourself with the terms and conditions of your insurance policy to ensure you understand your coverage and your obligations of your insurer. If you don’t understand these term and conditions, promptly contact legal counsel.
2. Document Everything: Keep detailed records of all communication with your insurance company, including emails, letters, and phone calls. Also, document any delays, denials, or inadequate responses.
3. Consult an Attorney: If you believe your insurer is acting in bad faith, consult an experienced insurance bad faith attorney. They can provide legal guidance, evaluate your situation, and advise you on the best course of action.