Under C.R.S. § 10-3-1104(1)(h)(VII), an insurance company is prohibited from engaging in unfair claim settlement practices, which includes “compelling insureds to institute litigation to recover amounts due under an insurance policy by offering substantially less than the amounts ultimately recovered in actions brought by such insureds.”

From what you’ve described, if the insurance company is offering you significantly less than the fair market value of your stolen truck and ignoring your provided comparables without a reasonable explanation, they may be acting in bad faith. Bad faith can occur when an insurer fails to properly investigate a claim, disregards valid evidence, or intentionally undervalues a claim to force a lower settlement.

For more information, read our article on underpaying claims. If you would like us to evaluate your claim, please contact us.