Ten Things Insurance Companies Don't Want You to Know

1. Insurance companies prefer that you not understand exactly how your policy works or what detailed coverage you are entitled to.

2. Insurance companies are required by law to act in good faith when it comes to the interpretation of their policies and the payout of customer claims.

3. If a customer's policy is misleading or poorly worded, the law states that it must be interpreted in the customer's favor.

4. Since insurance companies loose profit every time they pay out a claim, it is not in their best interests to do so and they will avoid it at all costs.

5. Hiring an experienced insurance attorney to represent you in an insurance claims case will increase the likelihood of your getting the best settlement amount.

6. If you don't file a claim against your insurance company in a timely manner, the statute of limitations can prevent you from ever being able to seek legal recourse.

7. The more evidence and eye witness accounts you can provide in court, the stronger your chances of winning your claim.

8. Insurance companies will wait as long as they can before paying out your claim because interest on that money is still generating them revenue until it is paid out.

9. If you can prove that your insurance company has acted in bad faith or in a fraudulent and oppressive manner, you may be entitled to additional punitive damages.

10. If an insurance company tries to eliminate your coverage after you have made a claim, it is violating the law.