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Sunday, April 21, 2013
Good Faith Practice Insurance Companies
Will Insurance Company pay on your claim or deny it?
SEATTLE (ESTRA) --Every year do you search for the best Auto Insurance
Rates?Is your goal to find the best
ways to keep cost down?If so, this is a
good time to screen for those Insurance Companies known for their "Good Faith
Practices" of protecting injured or sick Policyholders. Furthermore, this is
important when also selecting an Employer who is also your Insurance Company
because they also pay out Short-Term or Long-Term Disability and Healthcare Claims.
placing your life today or your future in the hands of an Insurance Company of
any type, in my opinion, it’s imperative to know their past history regarding
treatment of their policyholders. Do
Investors come first or do Policyholders?
Is there a dollar threshold amount where instead of operating on insured
behalf, they begin becoming concern with their bottom lines? How will their actions affect your ability to
survive on a daily basis? And will you
be in any condition to take on additional physical or emotional stress due to demands
of an Insurance Carrier? Do these
organizations bow completely to a Computerized Model to handle their claims, or
place more emphasis on a “Good Faith” Model with more human intervention?
perspective, this is a major reason to investigate a company before signing up
for their services. What affect have
insurance advertising seen on TV, Online, Radio, or other public outlets had on
your choices? Are their ads matching up
to their actions? Are you as safe and
secure as the advertisement betrays?
Before placing your signature on the bottom line of their contract there
may be a few questions to ask them.
In fact, review
what their policies for content, clauses, and how much of it contains protected
language on their behalf instead of yours.
Discuss it with Insurance Company in detail before signing. Realize reading before leaping into a
contract in this situation, may be the difference between surviving a bad
accident and loosing most of what you have accomplished to that point. Take your time and read the contract
carefully in order to make a decision, which is best for you and your
family. Or, at least, recognize the
downside of it.
A Good Faith
Practicing Insurance Company, in my opinion, is worth their weight in platinum. The suffering they can eliminate in your life
can be significant, influences physical recovery, and allow some balance until
family structure is stabilized. When there
is a safety net, which responds quickly to provide care for your needs, from my
perspective, makes a difference in the quality of your life after a traumatic
choosing an organization that values the human condition and the impact of
tragedy on life, means more-than-likely, they will live up to their part of contract
with you. This contract made a deal to
protect you in case of a catastrophic event, such as when their insured is involved
in a car collision, therefore, protecting your interest while processing your
claim, whether it is your fault or another driver’s.
Customers uniting by moving our
business to Insurance Carriers and working for Employers who have a reputation
of treating the injured and sick fairly, sends a strong message that the status
quo of those organization’s operating in “Bad Faith” will no longer be accepted. From my point of view, too many claims are
currently ignored, downplayed, or dismiss needs of their insureds. Do not let this be you in your time of
Seek out “Good Faith “Companies which
keep you informed every step of the way in claim process, share their findings,
and expectations on how they will handle your claim. Organizations with your best interest at
heart realize you are not just a claim number, but a human being with urgent
needs, and require their immediate attention.
They seek out ways to help you get back on your feet and reduce their
cost, not attempts to withhold their care that cause greater problems for you
If you search
on “Good Faith” Practices of Insurance Companies there will be few articles
listed. Sadly, if you do another search
on “Bad Faith” Practices you find too many.
Why is this? If counting
responses from satisfied vs. dissatisfied customers on this search, standard
ratio levels are atypical. It takes
respecting yourself and others to turn these numbers around, from my point of
perspective, if any Insurance Carrier or Self-Insured Employer wants to improve
the levels of dissatisfaction among the insured. One goal would be to develop a model that
generates an interest to discuss how to handle claims in a way which uplifts
their insured from their car accident plight.
In my opinion, this will generate more articles and conversation about
their “good faith “ efforts via actions and deeds that demonstrate the
industry’s willingness to perform their fiduciary responsibilities at level which
far exceed the vast number of “bad faith” claims. Making not just an advertisement that says
they care, but base on customers standing behind them. Check you State’s Insurance Commissioners
Website for Complaints. Many have information
on what to look for http://www.insurance.wa.gov/your-insurance/order-publications/documents/auto-insurance-guide.pdf
difficult is it for people to respect each other? Personally, I believe it begins with having
pride and respect in one’s own actions and behaviors individually and
organizationally. Realize one day, you
will be at the mercy of others, and will need them to resolve your issues with
integrity and fairness.
Thanks for visiting.
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