Colorado fire losses reported through the National Fire Incident Reporting System (NFIRS) provide that 75% of fire casualties are a result of structural fires. Colorado homeowners insurers may deny or delay providing policy benefits under your homeowner’s policy. The most common reasons serving as an insurer’s denial of coverage include untimely notice, insufficient loss documentation, nonpayment of premiums, policy exclusions, and failing to mitigate losses. A policyholder must closely study their insuring agreement, including the notice provision, and, particularly policy exclusions. Colorado Law provides remedies where a claim for payment of benefits has been unreasonably delayed or denied. See, C.R.S 10-3-116. A claimant may recover reasonable attorney fees and court costs and two times the covered benefit where an insurer has unreasonable denied or delayed benefits. Insurers are also prohibited from engaging in unfair or deceptive acts or practices in the business of insurance under C.R.S. 10-3-1104
Mandelaris Law, LLC (www.mandelarislaw.com) has the resources to deal with bad faith insurance claims when your automobile or homeowners insurance benefits are denied or delayed. Call (303)357-9757 to speak with an attorney free of charge today.