In exchange for the payment of premiums an insurance company agrees to the following:
Provide all coverage described in the specific policy
Communicate clearly when a claim is filed
Act fairly, promptly, and in good faith toward policyholders
Consider the interests of policyholders, and not merely its own financial interests
Deliver a prompt investigation for all claims and offer a monetary valuation
Uphold and honor policies and pay on your claim
Defend policyholders. Insurance companies may have a responsibility to defend you or provide legal representation against third parties.
An insurance policy is a binding contract between a policyholder and an insurance company. When your insurance company delays or refuses investigation, they are acting in bad faith.