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What compensation can you recover from a bad faith claim?

On Behalf of | Sep 29, 2022 | Denied Insurance Claims

You paid your premiums consistently in hopes of providing yourself with some protection. Yet, when the time came for you to rely on your insurance policy, your claim was delayed or denied. Regardless of what your insurance company says, your claim may have been subjected to bad faith, which is illegal under Oklahoma law. So, if you think that your claim was wrongfully denied or delayed, or if your insurance company was otherwise acting inappropriately, then you may want to consider taking legal action.

What compensation can you recover from a bad faith claim?

The state has an interest in deterring insurance companies from acting in bad faith, which is why the penalties that can be imposed upon them in a bad faith case can be rather extensive. Not only are you able to recover the compensation that you would’ve recovered if your claim had been handled properly, but you might also be able to recover compensation for the following:

  • Additional financial losses caused by the insurance company’s bad faith
  • Emotional distress
  • Embarrassment caused by your financial struggles
  • Punitive damages aimed at punishing the insurance company for acting improperly

Therefore, if you were subjected to bad faith, you shouldn’t be satisfied even if the insurance company eventually agrees to pay out your claim. At that point, the damage has been done.

Aggressively seek the compensation that you deserve

You’ve had enough to deal with after suffering damage to your home or business. You shouldn’t have to put up with the unfair and illegal practices of your insurance company. That’s why you should be prepared to fight to hold them accountable and to recover the compensation that you need and deserve. An attorney like those at our firm may be able to assist you as you seek a just outcome.