Bad Faith Insurance Claims
Policyholders purchase insurance to protect themselves from financial liability in case of an accident or serious injury. They trust that if they need to file a claim, the insurance company will uphold its end of the contract and honor all rightful claims. Unfortunately, insurers sometimes try to avoid making payments to policyholders with legitimate claims. When an insurance company wrongfully delays or denies a claim, it is guilty of acting in bad faith.
Bad Faith Actions There are many ways that an insurer can illegally breach its contract with a policyholder. If your insurance company has attempted any of the following actions to deny payment, you may be a victim of bad faith:
Delay of a claim decision or payment
Denying coverage without sufficient reason
Denying liability
Failing to offer a reasonable claim settlement
Failure to communicate policy terms and limits
Failure to sufficiently investigate a claim
Insurers are legally bound to the terms of the contracts that they make with their customers. When a insurance bad faith Oklahoma City company violates its duty to act in good faith, the policyholder may initiate a lawsuit to pursue the payment that he or she is rightfully owed. Sometimes several policyholders may have been defrauded by the same company, which can lead to a classaction lawsuit to hold the insurer liable for bad faith.
Pursuing Your Case All insured individuals are entitled to claim settlements as outlined by the terms of their contracts. If you have not received the full payment for a claim that you are entitled to, consider consulting with a bad faith insurance claim lawyer as soon as possible. An experienced attorney can investigate your case for acts of fraud or other breaches of contract and will hold your insurance company accountable for acts of violations.