Let’s Have a Talk about Bad Faith Insurance in Detail
Injured in an accident in Oklahoma? A lot of people in the same position depend on insurance companies to help tackle the sudden financial catastrophe. Even if you do not rely completely on insurance to get everything fixed, you at least expect them to work on your behalf since you literally pay them.
However, an insurance company is nothing if not a business organization. Like every other business, its primary goals are about maximizing profit margins.
Insurers will try to avoid or minimize their liabilities noted under the contract signed by the policyholder.
However, a lot of times, the insurer’s actions may directly contravene their duty of good faith. If you find yourself under similar circumstances, you have the legal right to sue them and recover damages.
The problem is, bad faith insurance claims can be a little too confusing for the uninitiated. If you have not dealt with the push and pull of insurance disputes before, it is best that you seek out the help of an experienced bad faith insurance lawyer.
An Insurance Provider Has a Responsibility to Maintain Good Faith
Insurance companies in Oklahoma are obliged to act in the best interests of their clients and payout coverage and benefits. Acting in good faith essentially involves the insurance provider being fair and honest with the policyholder.
For example, suppose you submitted a claim, but it has been well beyond the limits of civil delay, and the insurer still has not given you a concrete decision of how much they will pay or whether they will pay at all. In such a situation, it is only fair that you hire a bad faith insurance lawyer to investigate the matter. Upon further investigation, your attorney found that the insurer was severely behind on investigation and evaluation. Maybe they even purposefully delayed the process with the ill intention of making you resign to no payout.
This is a case of bad faith insurance. Upon taking up the matter with the court, they will consider the charges of unfair conduct against the insurer. If found guilty, you will be able to recover the damages. Under certain special circumstances, the court might also award you punitive damages.
When Does a Delay in Insurance Claim Become an Action in Bad Faith?
An insurance company will ideally conduct an extensive investigation after you have submitted your claim. There are a number of checkpoints that they will go through to finally approve your damage recovery. This is no doubt, a time-consuming affair, but there is a point where the delay crosses the line into unreasonable territory.
Unfortunately, since each case is unique, there is no strict guide that decides what is acceptable and what is not. The following points are important factors in deciding how much time it will take to pay out the claim-
● The availability of willing witnesses that can provide important insights and confirm or refute the plaintiff’s claims.
● The severity of the damages and the amount of money involved
● Easy accessibility of documents and records
● Who was at fault for the accident? Is the insured individual responsible?
Should You File for a Bad Faith Insurance Case?
At The West Law Firm, our bad faith insurance lawyers can help you out with strategic representation in the courts. Our team will review your situation and determine how to represent the case to the jury. You will also be provided with legal assistance to walk you through your legal rights against the insurance company.
Get in touch with our legal team today at 405-275-0040!
** Disclaimer: The above article does not imply a relationship between attorney and client, nor is it legal advice.