Edmond Bad Faith Insurance Lawyers
When you choose to work with an insurance provider
, the assumption is that they have your back. One of the key benefits of insurance is peace of mind, whether it is regarding health insurance, auto insurance, home insurance, or any other variant. Unfortunately, this peace of mind is often shattered when policyholders discover that their insurers are refusing to hold up their end of the bargain. The sad truth is that even if you pay your premiums on time and read the fine print, insurers can still find a way to avoid paying you your fair share.
If this sounds all too familiar, you might want to get in touch with bad insurance lawyers in Edmond
. Work with McGuire Law Firm, and we can guide you toward justice and compensation. There is no need to sit back and accept ill treatment from your insurer. If you feel that your insurer is acting in bad faith
, you are fully entitled to explore your legal options and take action if necessary.
How Can a Bad Faith Insurance Lawyer Help Me?
Edmond is located north of Oklahoma City
and is home to about 100,000 people. With plenty of schools and public works, this city is an attractive place for many families to settle. Many of its residents plan for the future, and one of the most effective ways to do this is through insurance.
Bad faith lawyers can help you with a number of different things, including:
- Negotiating with insurance companies
- Helping you understand why your claim was denied
- Responding to letters in a proper, legal manner
- Filing lawsuits against insurers for bad faith
- Representing you in court if necessary
- Investigating the circumstances of your claim
- Gathering evidence and documentation to support your claim
What Exactly is Bad Faith Insurance?
Unfortunately, many Edmond residents discover that their insurers often fail to deliver on their promises. This might be after serious property damage, a medical emergency, or a car crash. When policyholders file a claim with their insurers and request a settlement for their damages, they may be denied compensation. If the insurer denies benefits or settlements without a good enough reason, they may be acting in “bad faith.”
When an insurance company acts in bad faith, it means that they have violated their legal or contractual obligations. When you sign up for insurance with a specific company, the agreement applies to both you and
the insurer. You agree to pay your premiums on time while the insurer promises to cover you for certain damages in the event of an emergency. If either party fails to hold up their end of the bargain, they may be acting in bad faith.
Bad faith can occur in many different ways, including:
- Canceling your insurance without a valid reason
- Refusing to reimburse you for valid medical costs
- Canceling your coverage after a natural disaster (floods, fires, hurricanes, etc.)
- Misrepresenting contract terms
- Failing to disclose policy provisions, exclusions, and terms
- Failing to fully investigate a claim
- Failing to pay a claim in a timely manner
- Underpaying a claim
- Denying claims based on past claims
- Requesting an unreasonable amount of paperwork
- Broker negligence
- Refusing to pay a claim after a car accident without a valid reason
Generally speaking, an insurance company is legally required to perform a number of duties:
- Act in good faith toward its policyholders
- Provide the coverage described in each policy
- View policyholder interests as equal to their own
If an insurer fails in any of these duties, they may be held accountable. That being said, many steps taken by insurance companies are never considered bad faith, including:
- Simple mistakes
- Differences in opinion between policyholders and adjusters
- Offering a lowball settlement when beginning negotiations
What Damages Can I Pursue in a Bad Faith Insurance Lawsuit?
If you pursue a bad faith insurance lawsuit against your insurer, you can claim a number of damages, including:
- Your attorney fees
- Emotional distress caused by lack of coverage
- Any costs you incurred due to the lack of coverage
- The settlement you should have received initially
- The cost of further damage that was caused by the lack of coverage, including additional medical costs, home repairs, etc.
- Punitive damages (under certain circumstances)
In many cases, bad-faith insurance lawyers in Edmond force insurers to see the errors of their ways and encourage them to return to the negotiating table. Both parties can then negotiate in good faith and agree upon a settlement to resolve the issue. This is how many bad faith claims are resolved, and plaintiffs can walk away with exactly what they need to cover their various damages. On the other hand, those considering bad faith lawsuits are likely dealing with very stubborn insurers, and a trial may be the only way to pursue real results.
What Types of Insurance Can Lead to Bad Faith Lawsuits?
Various types of insurance may lead to bad-faith lawsuits. In fact, virtually any type of contract can lead to a bad faith lawsuit, and many of these lawsuits involve other types of legal agreements aside from insurance policies. Here are a few examples of insurance policies that can lead to bad-faith lawsuits:
What are Oklahoma’s Laws Regarding Bad Faith?
Although federal laws may apply to certain insurance policies
and bad faith claims, Oklahoma also has its own laws regarding bad faith. One of the most important laws in this area is the state’s punitive damage caps. If your claim is eligible for punitive damages, you may receive a maximum of $100,000 or
the same amount as your compensatory damages. You might also receive a maximum of $500,000 or
the increased financial benefit derived from your insurance company.
Like every other state, Oklahoma ensures that there is an implied duty of good faith and fair dealing with every legal contract, including insurance policies. There is also no third-party bad faith in Oklahoma, which means that a person cannot bring a bad faith claim against an insurer if they are not a party to the insurance contract.
Where Can I Find Qualified Bad Faith Insurance Lawyers in Edmond?
If you have been searching for experienced bad-faith insurance lawyers in Edmond, look no further than the McGuire Law Firm
. With our assistance, you can strive for the best possible results and pursue the compensation you deserve. There is no reason to simply sit back and accept ill-treatment at the hands of your insurer. If you feel that you have been wronged, you are probably right. With our assistance, you can push back and make sure that your insurer holds up their end of the bargain. Book your consultation
today to get started with an effective action plan.
Frequently Asked Questions for a Bad Faith Insurance Lawyer in Edmond:
How likely is it my bad faith insurance claim will have to go to court?
While it is not impossible that your case will go to court, the odds of it happening are not high. Most cases are settled outside of trial. Both your attorney and the insurance company will want to reach an negotiation without having to go to court.
How can I recognize if my insurance company is acting in bad faith?
If you think that your insurance company is acting in bad faith it is a good idea to speak to an Edmond bad faith insurance to see what your insurance company is doing. Some bad faith tactics are your insurance company harassing you, them not investigating a claim in a timely manner, them not giving a reason as to why they denied your claim
, and not taking all evidence into account when determining liability.
How long does it take to resolve a bad faith insurance claim?
Bad faith insurance claims don’t typically take that long, most only take a matter of months. While each claim is different and could take a different amount of time, but it is most likely to be resolved in a few months. To understand how long your case will take it would be best to speak to an Edmond bad faith insurance claims lawyer.
Can my insurance cancel my policy because I brought forth a bad faith insurance claim?
Your insurance company can’t cancel your policy during the bad faith insurance claim. They can decide to not renew your policy once it expires because of the claim you brought.
What evidence will I need to support my bad faith insurance claim?
You will need to have written contact between you and your insurance company that mentions the claim and exactly why you are filing your claim. It would also be good to have evidence that the insurance agent misrepresented the terms of your policy.
When is an insurance company able to deny a claim?
An insurance company can deny a claim if there is a valid reason. The reasons could be that the insurance policy you purchased does not cover your situation. Your claim could also be denied if your coverage has lapsed. The insurance company will also need to have fault established in order to have a valid claim.
What should I ask an Edmond bad faith insurance attorney before I hire them?
Before you hire an Edmond attorney to help you with your bad faith insurance claim, you will want to set up an initial consultation. This meeting will help you understand if you have a case and get to know the attorney and if they are who you want to handle your case. This also gives you space to ask some questions before your hire them such as:
- How many bad faith insurance claims have you handled?
- How long have you been practicing in Oklahoma and how familiar are you with this states laws?
- How do you typically approach a bad faith insurance claim?
- What are your fees? Do I owe anything upfront?
- Who will I be working with personally on this case?
Are there any caps to the damages you can receive in a bad faith insurance claim?
In Oklahoma the only compensation cap for bad faith insurance cases are the punitive damages. Punitive damages are not often granted and only granted in very specific circumstances. To understand if your case would have punitive damages, talk to an Edmond bad faith insurance lawyer.