Insurance Bad Faith
Insurance has become a part of our everyday life. We need insurance for our homes, businesses, automobiles, health, even our lives and the lives of our loved ones. Oklahoma law requires us to have at least $25,000.00 in liability coverage for our automobiles. We cannot obtain a mortgage for a home without purchasing homeowners insurance. When you purchase an insurance policy, whether for your car, home, or otherwise, you enter into a contract with the insurance company. The insurance policy is that contract.
Under the terms of your contract with the insurance company, you are entitled to be treated fairly and "in good faith" when you make a claim. That means that the insurance company must conduct a prompt, fair and honest investigation of your claim and pay the full amount of benefits due under your contract, and must do so in a timely manner.
Often times, insurance adjusters claim there is no coverage for your claim when they know there is. Or they will offer to settle your case for an amount far less than what is owed. Or they simply delay, delay, delay, and hope you will eventually give up.
This is called "bad faith", and when an insurance company treats you that way, you have the right to sue them. And, in some cases, you may recover more than what is due under the policy and make the insurance company pay your lawyer as well.
When you make a claim under your insurance policy, you should make sure you get everything in writing from the company. Make them tell you in writing if your claim is covered under the policy, and if not, make them put in writing why it isn't. Make them send you a copy of your policy and have them state in writing the specific provision of the policy that they claim does not give you coverage for your claim.
If you think the insurance company is not offering enough money, make them provide you with a copy of all the documentation they have to support their decision. If the claim is for damage to a car, make them provide you a copy of all estimates. If your claim is for medical bills, and they don't want to pay all of the bills, make them provide you a copy of whatever "code" book they are using to pay less than the full amount of the bills. You are entitled to get all of that information from them.
If the company is delaying your claim, then immediately contact the State Insurance Commissioner. Their website is http://www.oid.state.ok.us/index.asp You may also call their toll free number 1-800-522-0071
If you have any questions about how your claim is being handled or what your rights are, please contact me at 1-800-798-2613, or at 918-749-0749 or email me at tlaizure@stipelawtulsa.com
