If you own property and you must have property insurance if you want to ensure that it is covered at any cost. Because you care about your home or your business, you want to protect it from harm. In Oklahoma, you know that a home or business can fall victim to storms, flooding, and fire damage at any given time, especially when you least expect it. You signed up for a home insurance policy, expecting that it would cover you now and forever. However, when it comes time to pay out for your policy, you find out that you are not covered and your property insurance company is not giving you a reason why. The insurance company is probably acting in bad faith.
How “Good Faith” Occurs
Just because you property insurance you can still be denied your claim that an insurance company acted in bad faith. Sometimes you will be denied because of very real reasons. Here are some of the common reasons why property damage claims are denied every year in good faith:
Not Filing on Time: You should always speak to your property insurance company immediately after you have sustained any type of losses. This is a sensitive requirement, and you could miss out on your claim if you do not file on time.
Premium Non-Payment: If you haven’t kept up with your premium payments, you may not qualify for the property insurance payout that you expected.
False Statements: An insurance adjuster will be sent to investigate the claim and if the claim seems suspicious, such as a case where somebody caused the damage themselves, this might give rise to denying your claim.
Insufficient Damage Documents: Proof of loss is one of the many ways that you will be able to receive the insurance payments you deserve in your case. If there is not enough documentation to prove this, you may not be able to prove your claim to standard.
No Preventative Measures: You did not protect your home from a loss in any way, which could lead to a denial.
When You Suspect Bad Faith From Property Insurance
Proving a bad faith claim might not be as easy as it seems. An insurer is facing many damages in these cases and will do anything it takes to protect themselves when you are trying to make a claim against them. They know that, in the end, they could face a damaged reputation and have to pay for a variety of losses, which is why many insurance companies will trace their steps and attempt to throw you off so that you give up on your claim. You must be able to show more than just negligence if you want to make a claim of bad faith against a homeowner insurance company
Has an insurance company tried to value your property at a low level so that you don’t get what you deserve out of your claim when you make it? Has the company waited an unreasonably long time to investigate your case – so long that you have practically given up? Have they skewed your claim to fit their own expectations, and you know that illegal activity has been taken against you in some way? You might have a bad faith insurance claim, and we are here for you in your time of need. Here are some more in-depth ways that bad faith occurs in these insurance claims:
Lack of Coverage: One of the go-to’s for insurance companies is to tell you that your claim is not covered by your insurance policy. You might remember signing off on your policy knowing that it covered water damage, but now they’re standing here trying to tell you that this is not the case and you must not have remembered it properly. You should always understand what’s covered and what’s not when it comes to your policy.
Application Errors: An insurance company might tell you that you made misrepresentations when you signed off on your policy even when you didn’t, to try and turn the case around on you.
Insurance Fraud: The company might try to claim that you engaged in insurance fraud by making exaggerated claims, even though you didn’t. They might try to threaten you with legal action so that you don’t question it.
Policy “Jargon”: The company may try to sell you a line of confusing jargon to disguise the simple fact that they won’t be paying for your claim.
Taking Legal Action Against an Insurance Company
When it comes to bringing a lawsuit against an insurance company who has practiced in bad faith, you have options. You might be able to bring a breach of contract action when you believe that your insurance company has worked against your contract and has twisted it in such a way that it is unrecognizable compared to where it was when you first started out. If you speak to an attorney as soon as possible about your claim, you can find out what damages you might be entitled to when your insurance company has attempted to deny your claim even though there was no reason to do so. You may be able to receive many types of damages like compensatory damages when it comes to your property damage or punitive damages in cases where an insurance company has acted very recklessly and should be punished as a result. You don’t want to move forward without proper legal advice, which is why you should consult an attorney as soon as you have been denied or think that your insurance company is acting in a suspicious manner.
Come into your case with a clear understanding. You don’t want to speak to somebody who just wants to sell their services to you without getting you results – you want to speak to an experienced attorney who has dealt with these claims and understands them in and out. At the McGuire Law Firm, you receive an Oklahoma City property damage attorney who understands the many documents and laws involved in these cases and can help you receive information that will guide you into every aspect of your claim. Speak to us today to find out how you can move forward when you feel as if you have been cheated by your insurance company. Contact us at 888-352-0624.