What if Insurer Rejects Your Compensation Claim in Bad Faith?
There are several concerns to consider if you are harmed in an accident. You must first determine who is to blame. The next step is to figure out how much compensation you would get. Finally, you must navigate the procedure for receiving payment for your claim. In most accident instances, the claim is paid by someone's insurance company; the at-fault party rarely pays for the injuries out of pocket.
Unsurprisingly, if insurance companies are involved, the claims procedure can become quite convoluted. Even if there is no question about liability or the claim value, the insurance company may delay or refuse to pay it. This can put the sufferer in a lot of trouble. Rather than stressing about whether or not you can pay your bills, you should concentrate on putting your life back together.
Definition of Bad Faith
We've talked about bad faith before, but an insurance company behaves in bad faith when it rejects to credit the policy's duties to provide coverage. This can include things like refusing to pay a genuine claim or taking an inordinate amount of time to process it.
It's vital to remember that the insurance company may contest your claim's culpability or worth, as long as their position isn't ridiculous. It's also vital to remember that they safeguard their earnings and shareholders by ensuring that they pay no more on claims than is really necessary. Finally, they hire both in-house and outside counsel to defend them against lawsuits. The point is that proving bad faith might be tough, especially if you don't have an attorney on your side. If you believe the insurance company is acting unfairly, we strongly advise you to speak with a bad faith insurance lawyer who has handled bad faith cases.
Bad Faith Examples
When an insurance firm fails to meet up its responsibilities under an insurance policy, this is known as bad faith. Here are some examples of bad faith on the part of an insurance company:
The insurance company takes long time to send out an adjuster or investigate your claim.
The insurance company takes an undue amount of time to acknowledge or refuse your claim after you have submitted all of the required documents.
Even though you have meticulous evidence to back up the claim, the insurance company refuses it.
The company refuses to pay more than a portion of the value of your claim.
The insurance company rejects or takes an unreasonable amount of time to pay an agreed-upon settlement or judgment.
The bad faith insurance lawyers at The West Law Firm assist accident victims all around Oklahoma.
** Disclaimer: The above article does not imply a relationship between attorney and client, nor is it legal advice.