As a policyholder, you rely on your insurance provider to have your back in times of need. But when they fail to fulfill their obligations, you might need to take legal action. Filing a bad faith lawsuit can be a daunting task, and one misstep can put your entire case at risk. Two critical mistakes to avoid are related to timing and statute of limitations.
What is a bad faith lawsuit?
In Nevada, a bad faith lawsuit happens when an insurance company unreasonably denies your claim or fails to meet its promises. As a policyholder, you deserve fair treatment and a quick response to your claims.
The role of timing
Insurance companies are required to investigate and settle claims within a reasonable period. However, this does not mean you should rush into filing a lawsuit. Prematurely filing a bad faith claim can lead to dismissal. You must allow the insurance company sufficient time to investigate and respond to your claim before taking legal action. Consult an experienced attorney to determine the optimal time to file your lawsuit.
Understanding the statute of limitations
Nevada law sets a statute of limitations for bad faith lawsuits, typically three to four years from the date of the alleged bad faith conduct. Missing this deadline can result in your case being dismissed, regardless of its merit. It is essential to keep track of the statute of limitations and file your lawsuit within the allotted time. Do not rely on the insurance company to remind you of the deadline; you are responsible for staying on top of it.
Avoid timing mistakes
Dealing with a bad faith lawsuit requires a nuanced understanding of insurance laws. Consulting with an experienced attorney can help you avoid mistakes related to timing and the statute of limitations. With proper information and guidance, you can strengthen your case and hold your insurance company accountable for their actions.
Remember, as a policyholder, your rights matter, and taking the appropriate steps can make all the difference.
