As you know, Colorado has extreme weather that can cause major damage to homes and commercial property alike. 

 

But did you know Colorado has insurance laws and regulations that give property owners certain rights regarding their coverage and the claims process? Like most people, you probably don't know what those rights are, how to make sure yours are protected, how to interpret the policy and the law, and how to ensure the claims process is fair and properly compensates you to the maximum extent to which you are entitled.

 

               The good news is, WE DO!

If your home or commercial property has been damaged or destroyed, you're likely dreading the claims process.  However, the insurance policy is the best source to make you whole again.  Unfortunately, navigating the claim process on your own for a large insurance claim can be a daunting journey and a vital business negotiation that can cost you thousands if you don't know every aspect of the "game" like the insurance company does. To protect your rights, you need a level playing field.

 

Our knowledge of the law, experience in the process, and skill in negotiations give you the best chance of getting the maximum recovery.

Did you know?

Insurers are obligated to conduct a reasonable

investigation to determine whether an insured's

loss is covered by the insurance policy. The main

source of their duty to investigate claims are the 

common law duty of good faith and fair dealing

and claims handling statutes and regulations.

 

Under Colorado law, "A person engaged in the business of insurance shall not unreasonably delay or deny payment of a claim for benefits owed to or on behalf of any first-party claimant." C.R.S. § 10-3-1115(1)(a).

 

 

Insurers must avoid unreasonable claim processing delays, 

including responses to an insured's inquiries. A significant

delay could qualify as bad faith, warranting a lawsuit. Also,

even if the insurer finally pays all or a portion of the claim,

they can still be sued for not doing so in "a reasonably prompt" time.

 

If you think your insurance company may have handled your claim in bad faith, you may be able to seek legal damages. Contact Ferraro Law Firm to learn more . . .