What Are The Signs That Your Insurance Company Is Acting In Bad Faith?

What Are the Signs That Your Insurance Company Is Acting in Bad Faith? Dealing with insurance claims can feel like navigating a minefield, especially when you suspect foul play. This isn’t just about a delayed check; it’s about whether your insurer is playing fair. We’ll explore the red flags that signal potential bad faith, helping you understand your rights and what to do next.

From unreasonably slow claim processing to lowball settlement offers and outright denial of legitimate claims, insurance companies sometimes employ tactics that put their profits ahead of their policyholders’ well-being. This guide will arm you with the knowledge to identify these tactics and fight back if necessary. We’ll cover everything from recognizing shady claim investigations to understanding your legal options and strategies for effective communication with your insurer.

Let’s dive in!

Unreasonable Delays in Claim Processing

Insurance companies have a legal and ethical obligation to process claims fairly and promptly. However, various tactics are sometimes employed to delay settlements, potentially leaving policyholders in difficult financial and emotional situations. Understanding these tactics and recognizing unreasonable delays is crucial for protecting your rights.Unreasonable delays in claim processing are a common sign of bad faith. Insurance companies may use various strategies to slow down the process, ranging from simple administrative hurdles to more deliberate attempts to wear down the policyholder.

These delays can significantly impact a policyholder’s ability to recover from a loss, causing financial strain, emotional distress, and even legal complications. The severity of the impact depends on the type of claim, the amount of the loss, and the length of the delay.

Tactics Used to Delay Claim Settlements

Insurance companies may employ several tactics to delay claim settlements. These include requesting excessive documentation, repeatedly requesting the same information, assigning the claim to multiple adjusters, failing to communicate effectively, and using overly complex procedures. For instance, an adjuster might repeatedly request clarification on already-provided information, or ask for documents that are irrelevant to the claim. This creates unnecessary delays and frustration for the policyholder.

Another tactic is to simply ignore communication attempts from the policyholder, leaving them in the dark about the status of their claim. These actions, while seemingly small individually, collectively create significant delays.

Examples of Unreasonable Delays and Their Impact

Consider a homeowner whose house is damaged by a fire. A reasonable processing time for a property damage claim might be 4-6 weeks, allowing for initial assessment, investigation, and negotiation. However, a delay of several months, due to repeated requests for the same documentation or lack of communication from the insurance company, would be considered unreasonable. This delay could leave the homeowner facing significant financial hardship, including temporary housing costs, lost income, and mounting repair expenses.

Similarly, a delay in processing a medical claim can lead to significant financial strain for an individual who is unable to pay their medical bills. A delay of months in processing a car accident claim, particularly if the policyholder needs their vehicle repaired or replaced, can significantly disrupt their daily life and create substantial financial burdens.

Acceptable vs. Unacceptable Processing Times for Different Claim Types

Defining precise timelines for claim processing is challenging, as each case is unique. However, we can offer a general comparison. For example, a simple auto claim with minimal damage and clear liability might reasonably be processed within a few weeks. Conversely, a complex claim involving significant property damage or multiple parties might take several months, but excessive delays beyond this timeframe should raise concerns.

Medical claims often involve a higher degree of complexity due to the need for medical records and documentation, and therefore, processing times might be longer. However, unreasonable delays in any claim type are a cause for concern and potentially indicate bad faith. For instance, a straightforward car accident claim taking over six months to process, without clear justification, would likely be considered an unreasonable delay.

Similarly, a simple homeowners claim for minor water damage taking three or four months to settle without valid reason would be considered excessive.

Unfair Claim Denials

Insurance companies sometimes deny claims unfairly, leaving policyholders frustrated and financially vulnerable. These denials often stem from technicalities, misinterpretations of policy language, or a lack of thorough investigation. Understanding the common tactics and legal options available is crucial for protecting your rights.Claim denials, even those seemingly based on legitimate reasons, can be challenged if the insurer’s actions are deemed unreasonable or arbitrary.

This often occurs when the insurer relies on insufficient evidence, ignores key facts presented by the policyholder, or applies policy terms inconsistently.

Common Reasons for Unfair Claim Denials

Insurers frequently cite reasons for denial that, upon closer examination, prove insufficient or misleading. These often involve manipulating policy language or selectively focusing on aspects of the claim that support denial. For example, a claim might be denied due to a technicality in the paperwork, even if the underlying event clearly falls under the policy’s coverage. Another common tactic involves claiming the damage wasn’t caused by a covered peril, even with supporting evidence to the contrary.

The insurer may also demand an excessive amount of documentation, creating an unreasonable burden on the policyholder and effectively delaying or denying the claim.

So, you’re noticing red flags—unreturned calls, unreasonable delays, or flat-out denial of a legitimate claim? Those could be signs your insurance company is acting in bad faith. If you’re dealing with this, check out this guide on How to File a Complaint Against an Insurance Company for Claim Denial to learn your options. Understanding how to proceed is key when you suspect your insurer isn’t playing fair; knowing your rights can help you fight back against bad-faith practices.

Examples of Arbitrary Claim Denials

Imagine a homeowner whose house is damaged by a severe storm. The insurance company denies the claim, citing a clause about “acts of God,” despite the fact that the damage was clearly caused by wind and rain, both covered perils under the policy. This denial appears arbitrary because it ignores the clear evidence of storm damage. Another example involves a car accident where the insurer denies a claim, stating the policyholder was at fault despite police reports and witness testimonies that support the opposite conclusion.

The insurer might selectively highlight minor details to justify the denial, while ignoring overwhelming evidence to the contrary. In such cases, the denial seems based on a predetermined conclusion, not a fair and impartial assessment of the facts.

Legal Recourse for Unfair Claim Denials

Policyholders facing unfair claim denials possess several legal avenues to pursue. They can file a formal complaint with their state’s insurance department, which can investigate the insurer’s practices and potentially take action. They may also be able to initiate arbitration or mediation, processes designed to resolve disputes outside of court. In some instances, a lawsuit against the insurance company might be necessary to recover the benefits owed under the policy.

This often involves demonstrating that the insurer acted in bad faith, which requires showing a pattern of unreasonable conduct, a lack of good faith, or intentional misconduct. Legal counsel specializing in insurance bad faith claims can be invaluable in navigating these complex legal processes and building a strong case. Successfully pursuing legal recourse can lead to compensation for the denied claim, as well as additional damages for emotional distress, attorney’s fees, and punitive damages in cases of egregious bad faith.

Failure to Investigate Claims Thoroughly

Insurance companies have a legal and ethical obligation to investigate claims thoroughly. A fair and efficient claims process is crucial for maintaining trust with policyholders. Failing to conduct a proper investigation can lead to unfair denials, delayed payments, and ultimately, accusations of bad faith.A responsible insurance company should take several steps when investigating a claim. This typically involves promptly acknowledging the claim, requesting all necessary documentation from the policyholder (such as police reports, medical records, repair estimates), contacting witnesses if applicable, and conducting their own independent investigation to verify the facts of the incident.

They may hire adjusters, investigators, or even experts depending on the complexity of the claim. The goal is to gather sufficient evidence to make a fair and informed decision about the claim’s validity and the amount of compensation owed.

Adequate Versus Inadequate Investigation Procedures

Adequate investigation involves a systematic and comprehensive approach to gathering information. For example, in a car accident claim, a thorough investigation would include obtaining police reports, interviewing witnesses, inspecting the damaged vehicles, and potentially consulting with accident reconstruction experts. The adjuster would review all available evidence before making a determination. In contrast, an inadequate investigation might involve simply reviewing the policyholder’s initial statement and a single photograph of the damaged vehicle before denying the claim.

This lack of due diligence could easily overlook crucial evidence that supports the policyholder’s claim.Consider a scenario involving a homeowner’s insurance claim for water damage. An adequate investigation would include a visit to the property by an adjuster to assess the extent of the damage, review plumbing records to identify potential sources of the leak, and potentially consult with a plumber or other relevant experts to determine the cause of the damage and the cost of repairs.

An inadequate investigation, on the other hand, might rely solely on photos submitted by the policyholder and a cursory review of the claim paperwork before denying coverage based on a suspicion of pre-existing damage without proper verification.

Consequences of Inadequate Investigation

A lack of thorough investigation can lead directly to unfair claim settlements. By failing to gather sufficient evidence, insurance companies risk making inaccurate assessments of liability and damages. This can result in unfairly low settlement offers or outright denial of legitimate claims. For instance, if an insurance company fails to interview key witnesses in a car accident, they might miss crucial information that demonstrates their insured was at fault, leading to an unfair denial of coverage to the other party involved.

Similarly, if a homeowner’s insurance company fails to properly investigate the cause of a fire, they may wrongly attribute it to negligence on the part of the policyholder, leading to an unjustified denial of coverage. These situations can create significant financial hardship for the policyholder and damage the reputation of the insurance company.

Lowball Settlement Offers: What Are The Signs That Your Insurance Company Is Acting In Bad Faith?

Insurance companies aim to settle claims quickly and cheaply. Understanding how they calculate settlement amounts is key to recognizing a lowball offer. While they claim to use actuarial tables and industry standards, the process is often opaque and susceptible to bias.Insurance companies often use sophisticated algorithms and databases to assess the value of a claim. These systems consider factors like the severity of injuries, medical expenses, lost wages, and pain and suffering.

However, these systems can be biased, underestimating the true cost of an accident or injury. For example, the algorithms might not fully account for long-term medical needs, future lost earning potential, or the emotional distress caused by an accident. Additionally, internal company policies and profitability targets can influence the final settlement offer, potentially leading to lower payouts than justified.

Factors Influencing Settlement Amounts

Several factors contribute to the final settlement amount offered by an insurance company. These include the policy limits, the strength of the claimant’s case, the perceived liability of the insured party, and the insurance company’s own internal cost-benefit analysis. Insurance adjusters are often incentivized to settle claims for the lowest possible amount, leading to potential biases in their evaluations.

So, you’re wondering what constitutes bad faith from your insurance company? Knowing the red flags is crucial, especially since a solid policy is key to protecting your business. That’s why understanding the Best Practices for Small Businesses to Secure Liability Insurance Coverage is so important. Ignoring unreasonable delays or denials? That’s a major bad faith indicator you need to be aware of.

Examples of Lowball Offers and Pressure Tactics

Lowball offers often come with pressure tactics. For example, an adjuster might suggest the offer is the “best they can do” or imply that going to court will be costly and time-consuming. They may emphasize the uncertainties of litigation, even if the claimant has a strong case. A common tactic is to delay processing the claim, hoping the claimant will become frustrated and accept a less-than-fair settlement.Consider this scenario: A person suffers a broken leg and requires surgery and physical therapy after a car accident.

The medical bills total $50,000, and lost wages amount to $20,000. A fair settlement, considering pain and suffering, might be around $100,000. However, the insurance company might offer only $30,000, citing the “average settlement” for similar injuries, while ignoring the unique circumstances and the claimant’s ongoing pain and reduced mobility. This is a clear lowball offer. Another example could involve a homeowner’s insurance claim after a fire.

The actual cost to rebuild might be $250,000, but the insurance company offers $150,000, claiming depreciation or alleging inadequate documentation, even when the documentation is complete and up to standard.

Comparison of Fair Market Value and Lowball Offers

Claim Type	Fair Market Value (Estimate)	Common Lowball Offer (Example)	Percentage Difference
Car Accident (Serious Injury)	$150,000	$75,000	50%
Homeowner’s Claim (Fire Damage)	$200,000	$120,000	40%
Medical Malpractice (Negligence)	$500,000	$250,000	50%
Workers’ Compensation (Lost Wages)	$80,000	$40,000	50%

Refusal to Communicate Effectively

Dealing with an insurance claim can be stressful enough without adding the frustration of poor communication from your insurer. A lack of responsiveness, unclear explanations, and inconsistent information are all signs that your insurance company might be acting in bad faith. Effective communication is crucial for a fair and efficient claims process, and a refusal to communicate effectively can significantly hinder your ability to get the compensation you deserve.Insurance companies often employ communication practices that make it difficult for policyholders to understand their rights and pursue their claims.

Examples include ignoring phone calls and emails, providing vague or contradictory information, delaying responses for extended periods, and failing to clearly explain the reasons for claim denials. Imagine receiving a denial letter with jargon-filled legal language, lacking any specific explanation for why your claim was rejected. This type of communication is deliberately obstructive and designed to wear down the policyholder, making them more likely to give up.

Another common tactic is the use of automated responses that fail to address specific concerns, leaving the policyholder feeling unheard and dismissed.

Examples of Poor Communication Practices

Poor communication from insurance companies manifests in various ways. One common example is the use of automated email responses that don’t address specific questions, leading to a frustrating cycle of unanswered inquiries. Another tactic is the deliberate delay in responding to calls and emails, creating unnecessary stress and uncertainty for the policyholder. In some cases, insurance adjusters may provide contradictory information over time, making it difficult to understand the status of the claim.

Finally, the use of complex legal jargon in correspondence can make it nearly impossible for policyholders to comprehend the reasons behind claim decisions.

Importance of Clear, Concise, and Timely Communication

Clear, concise, and timely communication is paramount to fair claim handling. When an insurance company communicates effectively, it fosters trust and transparency, making the claims process less stressful for the policyholder. Prompt responses to inquiries, clear explanations of claim decisions, and readily available contact information allow policyholders to understand their rights and pursue their claims effectively. Conversely, a lack of clear communication can lead to misunderstandings, delays, and ultimately, unfair claim denials.

Prompt and clear communication demonstrates a commitment to fair treatment and efficient claim resolution. This transparency ensures policyholders understand the process and their options.

Improving Communication with Your Insurer

Effective communication is a two-way street. Policyholders can take proactive steps to improve communication with their insurers. A checklist of steps to improve communication includes:

• Keep detailed records of all communication, including dates, times, and summaries of conversations.
• Send all correspondence via certified mail with return receipt requested to ensure proof of delivery.
• Clearly and concisely state your questions and concerns in writing.
• Request clarification on any unclear or contradictory information.
• Follow up on unanswered inquiries with a phone call or a second written communication.
• Keep copies of all documents related to your claim.
• If communication remains unsatisfactory, consider seeking legal counsel.

Using Aggressive Tactics to Pressure Claimants

Insurance companies sometimes employ aggressive tactics to pressure claimants into settling for less than their claims are worth. These tactics can be emotionally draining and significantly impact a claimant’s ability to make rational decisions about their case. Understanding these tactics and how to respond is crucial for protecting your rights.Insurance companies might use various methods to apply pressure. These range from implied threats to outright intimidation, all designed to make you feel overwhelmed and likely to accept a lowball settlement.

The goal is to exploit the stress and vulnerability of someone already dealing with the aftermath of an accident or loss.

Examples of Aggressive Tactics

Aggressive tactics can manifest in many forms. One common tactic is the use of relentless phone calls, often at inconvenient times, from multiple adjusters, each reiterating the same low offer. This constant barrage can be extremely stressful and exhausting, making it difficult to focus on the details of your claim and negotiate effectively. Another tactic is the use of short deadlines, implying that if you don’t accept their offer immediately, you’ll lose your chance for compensation.

This creates a sense of urgency and panic, hindering your ability to seek independent legal counsel or fully investigate your claim. Some companies may even attempt to discredit your claim by questioning your credibility or suggesting you are exaggerating your injuries or losses. This can be particularly damaging emotionally, adding insult to injury. Finally, some adjusters may use condescending or dismissive language during conversations, designed to undermine your confidence and make you feel insignificant.

Impact on Claimants’ Emotional State and Decision-Making

The cumulative effect of these aggressive tactics can be significant. Claimants may experience increased anxiety, stress, depression, and even feelings of hopelessness. This emotional distress can cloud judgment, leading to poor decision-making. Under pressure, individuals might feel compelled to accept a settlement offer that is far below the actual value of their claim, simply to end the harassment and alleviate their emotional burden.

The stress can also impair their ability to effectively communicate their needs and advocate for their rights. For example, someone dealing with a significant injury and facing constant pressure might accept a quick settlement even if it doesn’t cover future medical expenses or lost wages, simply to escape the emotional toll.

Strategies for Handling Aggressive Tactics and Protecting One’s Rights, What Are the Signs That Your Insurance Company Is Acting in Bad Faith?

The most effective strategy is to remain calm and assertive. Document every interaction with the insurance company, including dates, times, names of individuals contacted, and the content of conversations. This detailed record is crucial if you need to pursue legal action later. Don’t be afraid to politely but firmly decline unreasonable demands or pressure tactics. Remember, you have the right to take your time to consider your options and seek professional advice from an attorney specializing in insurance bad faith claims.

Consider keeping a detailed journal documenting your emotional state and the impact of the insurance company’s actions. This can be valuable evidence if you decide to pursue legal recourse. Finally, if the aggressive tactics become unbearable or you feel threatened, don’t hesitate to seek legal counsel immediately. An attorney can help protect your rights and ensure you receive fair compensation for your claim.

Denial of Coverage Based on Misinterpretations of Policy Language

Insurance companies sometimes deny coverage by creatively interpreting policy language, often exploiting ambiguities or technicalities to avoid paying claims. This practice, while legally questionable in many cases, can leave policyholders feeling frustrated and unfairly treated. Understanding how this happens is crucial to protecting your rights.Policy language is often dense and filled with legal jargon. Insurance companies may use this complexity to their advantage, selectively emphasizing certain clauses while downplaying others to support their denial.

For example, a seemingly straightforward clause might contain hidden limitations or exceptions that are not readily apparent to the average person. The goal is to understand the common tactics used to deny claims and to know how to effectively challenge these denials.

Ambiguous Policy Language and Exploitation

Ambiguity in insurance policies provides fertile ground for misinterpretations. Terms like “accident,” “sudden and accidental damage,” or “reasonable and customary charges” are frequently open to different interpretations. For instance, a policy might define “accident” in a very narrow way, excluding events that a reasonable person might consider accidental. Similarly, a clause stating coverage is dependent on “proper maintenance” can be exploited by arguing the claimant failed to meet an undefined standard of “proper” maintenance.

This allows the insurer to shift the burden of proof onto the policyholder, requiring them to demonstrate they met an ambiguous standard.

Common Policy Clauses Subject to Misinterpretation

It’s important to understand that many policy clauses are frequently misinterpreted. Here’s a list of some common culprits and clarifications:

• “Acts of God”: This often excludes damage caused by natural disasters. However, the precise definition of what constitutes an “Act of God” can be vague and contested. For example, flooding caused by a slow-moving, predictable storm might be debated. Clarification: Look for specific exclusions within your policy related to types of natural disasters and their associated conditions.
• “Pre-existing Conditions”: In health insurance, this refers to conditions present before the policy’s effective date. However, the determination of “pre-existing” can be subjective and depend on the insurer’s interpretation of medical records. Clarification: Carefully review your policy’s definition of “pre-existing condition” and ensure you understand the waiting periods and limitations.
• “Wear and Tear”: This exclusion usually prevents coverage for damage resulting from normal deterioration. However, the line between normal wear and tear and sudden damage can be blurred, leading to disputes. Clarification: Look for specific examples of what constitutes “wear and tear” within your policy. Often, a sudden event causing accelerated wear and tear might still be covered.
• “Negligence”: Policies often exclude coverage for damages resulting from the policyholder’s negligence. However, establishing the degree of negligence can be difficult and often subjective, leading to disputes. Clarification: Carefully review the policy’s definition of negligence and the circumstances under which it would exclude coverage.

Failure to Properly Adjust Claims

Insurance adjusters play a crucial role in the claims process, acting as the intermediary between the insurance company and the policyholder. Their job is to fairly and efficiently assess the validity and extent of a claim, ultimately determining the amount of compensation owed. When adjusters fail to perform their duties properly, it can lead to significant problems for policyholders and constitute bad faith on the part of the insurance company.An adjuster’s responsibilities involve a systematic approach to claim evaluation.

This typically includes promptly acknowledging the claim, conducting a thorough investigation by gathering evidence such as police reports, medical records, and witness statements, and accurately assessing damages based on the policy’s terms and applicable laws. They should then communicate their findings clearly and transparently to the claimant, explaining the basis for their decisions regarding coverage and compensation. Fair negotiation and a willingness to reach a reasonable settlement are also key aspects of responsible claim adjustment.

Responsible Adjuster vs. Negligent Adjuster

A responsible adjuster works diligently to ensure a fair and timely resolution. They actively seek all relevant information, communicate openly and honestly with the claimant, and apply the policy’s terms objectively. They’re proactive in their investigation and readily address any questions or concerns raised by the claimant. Conversely, a negligent adjuster might delay the process unnecessarily, fail to investigate the claim thoroughly, or undervalue damages intentionally.

They might ignore evidence supporting the claimant’s case, provide inadequate communication, or resort to aggressive tactics to pressure the claimant into accepting a low settlement. The difference lies in the commitment to fairness and adherence to professional standards.

Consequences of Improper Claim Adjustment

Improper claim adjustment can have severe consequences for the policyholder. They may receive significantly less compensation than they are entitled to, experience undue stress and financial hardship, and face prolonged legal battles to obtain fair treatment. Examples include situations where an adjuster improperly denies a legitimate claim based on a misinterpretation of the policy language or fails to consider crucial evidence, resulting in a significantly reduced payout or a complete denial.

In such cases, the policyholder may be forced to pursue legal action to recover their losses, incurring additional expenses in the process. This can include filing a lawsuit against the insurance company for breach of contract and bad faith, potentially leading to significant financial penalties for the insurer. Cases of bad faith claim handling frequently result in substantial damages awarded to the claimant, including not only the unpaid claim amount but also punitive damages to punish the insurer for its misconduct and attorney fees.

Violation of State Regulations Regarding Insurance Practices

Insurance companies operate under a complex web of state regulations designed to protect policyholders from unfair and unethical practices. Violating these regulations constitutes bad faith and can lead to significant consequences for the insurer. Understanding these regulations and how they are often breached is crucial for policyholders to effectively advocate for their rights.State regulations vary, but many include provisions addressing prompt claim handling, fair settlement offers, and transparent communication.

These regulations often specify timeframes for acknowledging claims, conducting investigations, and issuing payments. They also prohibit certain tactics, such as intimidation or coercion, designed to pressure claimants into accepting unfair settlements. Penalties for violating these regulations can be substantial, including fines, legal fees, and even the revocation of the insurer’s license to operate within the state.

Specific State Regulations and Their Violations

Many states have enacted laws specifically addressing unfair claims settlement practices. For example, some states mandate that insurers must investigate claims thoroughly and promptly, within a specified timeframe. Failure to do so, such as delaying investigations indefinitely or failing to contact witnesses, constitutes a violation. Similarly, many states prohibit insurers from denying claims based on arbitrary or capricious reasons, requiring them to base denials on a clear and reasonable interpretation of the policy language.

An example of this would be an insurer denying a claim for water damage because of a minor, unrelated clause in the policy, when the primary cause of the damage clearly falls under covered perils. Another common violation involves lowball settlement offers, where the insurer offers a significantly lower amount than the actual damages sustained. This tactic is often used to pressure claimants into accepting less than they are entitled to.

Penalties for Violations and Avenues for Redress

The penalties for violating state insurance regulations vary widely depending on the severity of the violation and the specific state laws. These penalties can include substantial fines levied against the insurance company. In addition to fines, insurers may be required to pay the claimant’s legal fees and costs associated with pursuing the claim. Furthermore, repeated or egregious violations can result in the suspension or revocation of the insurer’s license to conduct business within the state.

Policyholders have several avenues for redress when they believe their insurer has acted in bad faith by violating state regulations. These avenues include filing a complaint with the state insurance department, pursuing arbitration or mediation, and filing a lawsuit against the insurance company. Filing a complaint with the state insurance department is usually the first step, as it allows the department to investigate the insurer’s conduct and potentially impose administrative penalties.

If these avenues fail to provide a satisfactory resolution, the policyholder may choose to file a lawsuit, seeking damages for the insurer’s bad faith conduct. This often involves demonstrating that the insurer knowingly violated state regulations and that this violation caused the policyholder harm.

End of Discussion

So, you’ve learned the telltale signs of bad faith insurance practices. Remember, being proactive, documenting everything, and understanding your policy are key to protecting yourself. Don’t hesitate to seek legal counsel if you suspect your insurer is acting unethically. Knowing your rights and standing up for yourself can make all the difference in getting the fair settlement you deserve.

Don’t let them walk all over you—know your options and fight back!

Query Resolution

What if my insurance company refuses to provide a written explanation for denying my claim?

This is a major red flag. Demand a written explanation in writing, citing your policy and relevant state laws. If they still refuse, consult an attorney.

Can I sue my insurance company for bad faith?

Yes, in many states, you can sue your insurance company for bad faith if they intentionally act unfairly or unreasonably in handling your claim. You’ll need strong evidence to support your case.

How long does it typically take to process an insurance claim?

Processing times vary by claim type and insurer, but unreasonable delays—weeks or months beyond what’s considered standard—can be a sign of bad faith.

What constitutes a “lowball” settlement offer?

A lowball offer is significantly below the actual value of your damages or losses. Consult with an attorney or independent adjuster to determine fair market value for comparison.