When you purchase insurance coverage, you should be able to rely on it when you have a claim. However, not all insurance companies act fairly and deal with their customers in good faith. Some companies employ unethical tactics to deny or delay paying valid claims, thereby retaining more money for themselves.
Oklahomans facing bad-faith insurers have legal recourse. If you believe your insurer has denied your valid claim or otherwise treated you unfairly, you should consult an experienced Oklahoma City injury attorney to learn whether you have the right to pursue an insurance bad faith claim to recover damages.
What Is Insurance Bad Faith?
An insurance bad faith claim is a cause of action arising from an insurance company’s failure to act in good faith when handling a valid insurance claim.
The primary question is whether, when the payment was requested, the insurance company had a good faith belief that there was a justifiable reason under the insurance policy terms to withhold payment. If the answer is no and the insurance company refused payment, it likely acted in bad faith.
What Are Some Examples of Insurance Bad Faith Practices?
There are numerous ways that an insurer can be guilty of bad faith practices. Some examples include:
- Trying to find a reason to deny a claim instead of fairly investigating the information in its possession.
- Denying a claim without first investigating it.
- Delaying payments owed without justification.
- Requiring the claimant to meet obligations not included in the terms of their policy.
- Making low settlement offers for property damage after receiving valid appraisals for much higher amounts.
- Refusing to pay the fair value of expenses incurred for covered damages and injuries.
- Forcing an insured to file suit to recover their benefits.
If you are struggling with an insurer that refuses to act reasonably, you should consult an experienced Oklahoma bad faith insurance attorney to understand and protect your rights.
What Compensation Can I Recover in an Insurance Bad Faith Lawsuit?
If your insurance company has acted in bad faith and treated you unfairly, you may be able to recover compensation for your damages. The type and amount of damages depend on the facts of your case. In a successful Oklahoma bad faith insurance case, you may be able to recover economic, non-economic, and punitive damages.
Economic damages recoverable in a bad-faith insurance case may include:
- The value of your denied claim plus interest.
- Interest on loans you may have taken to pay for the expenses and losses that should have been paid for under the insurance policy.
- Attorney fees for bringing your lawsuit.
- Lost earnings.
- Additional medical expenses incurred as a result of the insurance company’s bad faith delay or denial of coverage.
- Other expenses incurred due to the insurance company’s bad faith actions.
Non-economic damages you may be able to recover include:
- Pain and suffering.
- Emotional and mental distress.
- Loss of consortium.
- Loss of quality of life.
- Other intangible losses were incurred due to the insurer’s bad faith actions.
- Punitive damages are also available in some bad-faith insurance cases. Unlike economic and non-economic damages, which are designed to compensate the injury victim, punitive damages are intended to punish the insurance company for its bad behavior and to deter similar conduct in the future.
How Will An Oklahoma Insurance Bad Faith Lawyer Help Me With My Claim?
Oklahoma bad faith claims are based on common law and are not defined by any statute or regulation in Oklahoma. Instead, this tort has been established by cases decided by the Oklahoma Supreme Court. Understanding the case law and how it applies to your claim requires the experience and knowledge of an Oklahoma insurance bad faith lawyer.
Insurance companies typically have attorneys ready to litigate and aggressively defend them against claims. You need an attorney with the skills, experience, and resources to protect your rights and help you get the justice and compensation you deserve.
An experienced bad faith insurance lawyer can help determine and prove the accurate value of your damages, enabling you to recover the full compensation you are entitled to. Additionally, punitive damages may be available, but they require proving, by clear and convincing evidence, that the insurance company acted intentionally or recklessly. Your Oklahoma City accident attorney can uncover the essential evidence needed to establish the necessary elements for punitive damages when appropriate.
Contact Us Today
If your valid insurance claim has been denied or you believe you are a victim of an insurance company’s bad faith actions, we want to help you.
At Warhawk Legal, our attorneys have the experience, skills, and resources to help you get the justice and compensation you deserve.