When the insurance companies fail or refuse to timely pay a valid claim for injury, they are responsible for all the damages to the injured person.
Nevada has unique “bad faith” laws that are very strong in favor of the public and are designed to punish insurance companies when they act badly and don’t do their job of timely paying valid claims.
For example, in a motor vehicle crash the statutory insurance is 25,000/50,000. This means that the most a vehicle is required for insurance is $25,000 per injured person or $50,000 total for all injured persons. If there is a significant crash and the persons damages exceed $1 million, and the insurance company does not timely pay $25,000, the insurance company is responsible for the $1 million dollars in damages to the injured person.
These are very specialized cases, and in fact often lawyers will recommend the client take the policy limits because they won’t go after the balance. Here at The Cottle Firm we have one or more of these cases pending at any given time because we enjoy helping people get the most for their money.
If you or someone you know is in this situation where there’s not enough insurance money, please call The Cottle Firm and we will evaluate the merits of the claim for free. Call 702-722-6111.