Law Library Articles
Top 10 Insurance Law Articles in the LegalMatch Law Library
Insurance is like a form of gambling because you are betting on something extremely unpleasant happening, whether it be a car accident, health problems, or even an earthquake. The primary selling factor behind insurance is the old adage, “It’s always better to be safe than sorry.”
Although holding insurance is a definite comfort, you may find that collecting insurance money is just as stressful as enduring the accident for which you were insured. Insurance companies are interested in making a profit, which is why it is difficult for them to let go of money when it is time to pay up on a policy.
LegalMatch presents its top 10 articles to help you understand and get the most from your insurance policies.
1. Bad Faith Lawyers
Insurance companies have a duty to act in good faith when handling claims. If an insurer unreasonably denies or delays a valid claim, it may be acting in bad faith. A policyholder can sue the company for this behavior and may be able to recover more than the policy’s value.
2. Life Insurance Policy Problems
Problems can arise with a life insurance policy, such as when a claim is denied. This can happen if the policyholder made false statements on their application. It can also occur if the cause of death is not covered by the policy.
3. Annuities
An annuity is a contract with an insurance company where you pay a lump sum or make payments over time. In return, the company provides you with regular income, usually during retirement. There are different types of annuities, such as fixed and variable, each with its own features. Read this article to learn about your legal rights with regard to annuities.
4. Insurance Fraud Lawyers
Insurance fraud involves deceiving an insurance company to receive benefits. This can be done by policyholders or even the insurance companies themselves. Both individuals and insurers can face serious legal penalties for committing fraud.
5. Rescinding an Insurance Policy
Rescinding an insurance policy means the insurance company cancels it from the beginning. This usually happens if the policyholder made a major misrepresentation on their application. When a policy is rescinded, the insurer must return all premiums paid.
6. Lapse of an Insurance Policy
An insurance policy lapses when it is terminated due to unpaid premiums. Most policies have a grace period that allows you to make a payment after the due date to avoid a lapse. Once a policy has lapsed, the insurance company will no longer provide coverage.
7. Recovering Title Insurance Benefits
Title insurance protects a property owner from financial loss due to defects in the property’s title. If a title problem arises, you must file a claim with the insurance company. If the claim is denied, you may need to file a lawsuit to recover the benefits.
8. Mandatory Insurance for Condos in Miami and Ft. Lauderdale
In Florida, condominium associations are required to carry property insurance. New laws passed after the Surfside condo collapse have increased these insurance requirements. These changes are meant to ensure there is enough money for repairs after a disaster. Learn more about the specific condo insurance laws in these regions.
9. Gap Insurance Disputes
Gap insurance covers the difference between what you owe on a car loan and what the car is worth. Disputes can arise if the insurance company undervalues your vehicle. You can challenge the company’s valuation if you believe it is too low.
10. Collateral Insurance Protection Fraud
Collateral protection insurance is taken out by a lender when a borrower fails to insure their property. Sometimes, lenders and insurers work together to charge inflated premiums for this coverage. This practice can be a form of fraud that harms the borrower.
