The Detailed Story of Bad Faith Insurance Claim
The expectation is that an insurance policy will protect you in the event of a loss. But what if your agent was careless in his or her representation of you? Or what if your insurance provider tries to mislead you by denying a legitimate claim? Insurance companies have acted in bad faith, and you, as a policyholder, can sue to recover damages.
Our Oklahoma City bad faith insurance lawyers at The West Law Firm defend clients against arbitrary denial, undervaluation of claims, and other shady insurance company practices. We deal with first-party insurance claims on behalf of individuals and companies in Oklahoma. If you've been the victim of bad faith insurance tactics, you can put your faith in us to stand up for your rights.
The term "bad faith" refers to a claim that was made in bad faith.
For the most part, we pay our insurance premiums out of good faith, believing that we would be reimbursed when we actually need it. There is an implied covenant of good faith and fair dealing in the contract, and we pay our monthly payments with the understanding that if something goes wrong the insurance company will assist us when we need it.
In some cases, this is not the case. Unreasonable refusal by an insurance company to fulfil its responsibilities under your insurance contract is known as bad faith. Examples of poor faith that are frequently seen are as follows:
Refusal to provide benefits based on medical necessity
A claim that is undervalued, or a claim that refuses to pay the full amount due
Failing to look into a complaint
Delay in the investigation of an allegation that is excessive
Fraudulent claims of benefits and coverage are made.
Lack of explanation as to why a claim was refused
Policy language is being interpreted in an unreasonable manner
Inability to process a claim on time; imposing arbitrary deadlines or time constraints; failing to disclose policy limits
Defeating third-party claims without defending the insured
To refuse a claim in full or in part by redefining what medical operations, house repairs, or auto repairs are,
Committing fraud to postpone the payment of a fair settlement by pressuring a claimant into litigation
Negligence on the part of the agent
Making a false insurance policy claim and issuing it
Non-compliance with the terms of your insurance policy
Insurance firms are corporations with a profit motive, just like any other corporation. In order to do this, they receive more money from customers in the form of premiums than they spend on claims. The majority of insurance companies will find any reason to avoid paying out on your claim, or to pay out as little as possible.
Only policyholders are represented by our Oklahoma City insurance bad faith lawyers, not insurance corporations. We begin by putting together a strong case that will persuade insurance companies to adhere to their policies and pay you what you are owed.
Help from an Oklahoma City insurance bad faith lawyer who understands the law.
At The West Law Firm, each bad faith insurance lawyer is dedicated to defending your rights by negotiating with insurance companies or aggressively suing them for bad faith. If coverage or benefits are disputed, we can also help clients with insurance coverage lawsuits. It is in the best interests of our firm and our clients to advise you up front if you need an attorney and how to proceed with your claim.
** Disclaimer: The above article does not imply a relationship between attorney and client, nor is it legal advice.