Should I Accept the First Offer from an Insurance Company?

Insurance
insurance

After an accident, the insurance company will come to you with a settlement offer – and often faster than you anticipated. While the offer might look great, you should never accept the first offer from the insurance company. Even though your bills are piling up and you might find yourself in desperate need of cash,…

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How Does an Accident Affect My Car Insurance Rates?

Insurance

Car accidents go on your driving record, which means they may affect your insurance rates. How long they will affect it, and by how much, all depend on the severity of the accident, the payout by the insurance company, and whether or not you caused it. Regardless, you should always ask your insurance company if…

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Facts to Know about the Insurance Fair Conduct Act

Insurance
IFCA and Bad Faith Claims

Unless you have recently filed a claim with an insurance company, you may be unaware of the Insurance Fair Conduct Act (IFCA). The IFCA took effect December 2007 here in Washington, and it is designed to protect policyholders when their insurance company unfairly or unjustly denies their insurance claims. However, the IFCA is a misunderstood…

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How to Fight Back against Bad Faith Insurance Acts

Insurance
insurance claim

You pay your premiums with your insurer on time, and in return, you expect that your insurance company will be there when you file a claim. After all, the point of investing in insurance is that it is there for you, even if you are at fault. However, what should you do when your insurance…

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Steps to Completing a 20-Day IFCA Notification for a Lawsuit

Insurance
IFCA and Bad Faith Claims

To file an IFCA (Insurance Fair Conduct Act) claim, you must provide your notice of intent. The notice of intent tells the insurance company as well as the OIC (Office of the Insurance Commissioner) that you will file your lawsuit within a 20-day period. If you do not file the notice of intent, you cannot…

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What is the Insurance Company’s Nuisance Value of a Case?

Insurance
calculating value of case

Insurance companies are businesses; therefore, they are extremely cautious when it comes to determining settlement value in a case. Sometimes, the nuisance value of a settlement enters into play, especially when there are multi-million-dollar settlements on the table. What is the Nuisance Value? Insurance claims adjusters might think that a claim is worth nothing, but…

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