How Much Is A Bad Faith Claim Worth

July 16, 2023

How Much Is A Bad Faith Claim Worth

When an insurance company acts in bad faith, it implies they have failed to fulfill their contractual obligations or have intentionally acted unjustly towards policyholders. Such acts can lead to substantial financial losses and emotional distress for the affected individuals. If you find yourself in this situation, pursuing a bad faith claim can support you recover the damages and hold the insurance provider liable. The importance of obtaining a lawyer from CB Trial will be discussed as you read on.

Understanding Bad Faith Claims

A bad faith claim arises when an insurance provider unjustly rejects, delays, or underpays a valid claim made by the policyholder. These claims can involve various types of insurance policies, including auto, health, homeowner’s, or disability insurance. The aim of a bad faith claim is to obtain compensation not solely for the initial claim but also for any further damages caused by the provider’s wrongful acts.

Factors Influencing the Value of a Bad Faith Claim

Various factors are involved when determining the worth of a bad faith claim. These may include:

The Extent of Damages

The value of a bad faith claim depends on the extent of damages suffered by the policyholder. This includes economic damages, such as medical expenses, property damage, and lost wages, as well as non-economic damages like pain and suffering or emotional distress.

Policy Limits

The policy limits set by the insurance provider can influence the probable value of a bad faith claim. If the policy has high coverage limits, it increases the likelihood of recovering a substantial amount through a bad faith claim.

Evidence of Bad Faith

To strengthen your claim, it is vital to gather evidence of the insurance company’s bad-faith actions. This may include written correspondence, claim denials without a valid reason, delays in claims processing, or evidence of discriminatory practices.

Legal Precedents

Previous court rulings and legal precedents regarding bad faith claims can also impact the value of your case. An experienced bad-faith attorney from Callender Bowlin will be familiar with these precedents and can use them to strengthen your claim.

Documenting Damages and Losses

To maximize the value of your bad faith claim, it’s essential to meticulously document all damages and losses you have suffered. This includes keeping track of medical bills, repair estimates, invoices, and any other relevant documents. Maintaining a detailed record will provide strong evidence to support your claim and ensure that no losses are overlooked during the settlement process.

The Role of an Experienced Bad Faith Attorney From CB Trial

When dealing with a bad faith claim, having a skilled attorney by your side is invaluable. A bad-faith attorney specializes in handling insurance disputes and has a deep understanding of the laws and regulations surrounding these claims. They will advocate for your entitlements, negotiate with the insurance provider on your behalf, and work towards securing fair compensation for your losses.

Proving Bad Faith and Seeking Fair Compensation

Proving bad faith requires thorough investigation and presentation of evidence. Your attorney will gather all relevant documents, communicate with insurance representatives, and build a strong case to demonstrate the insurer’s wrongful actions. They will also calculate the appropriate compensation based on the losses you have suffered, both economic and non-economic.

Once the evidence is compiled, your attorney will negotiate with the insurance provider for a fair settlement. If a satisfactory agreement cannot be reached, they will proceed with litigation, representing your interests in court and fighting for the compensation you deserve.

Frequently Asked Questions

Can I handle a bad-faith claim without an attorney?

While it is possible to handle a bad faith claim without an attorney, having legal representation significantly increases your likelihood of securing just compensation. A skilled attorney can pursue complex legal proceedings and negotiate on your behalf.

How long does a bad faith claim take to resolve?

The timeframe of a bad faith claim varies on the specifics of the case. Some claims may be settled through negotiation, while others may require litigation, which can extend the timeline.

Will I need to go to court for a bad faith claim?

Not all bad faith claims go to court. Most of their cases are settled through negotiations between your attorney and the insurance provider. However, if an equitable settlement cannot be attained, your attorney may submit a suit and represent you in court.

How can I find a reliable bad-faith attorney?

To find a reliable bad-faith attorney, consider asking for recommendations from trusted sources, like friends, family, or other attorneys. Further, you can research local law firms specializing in insurance disputes and read client reviews to gauge their reputation.

Obtain Callender Bowlin’s Assistance For Your Bad Faith Claim

Experiencing bad faith actions from an insurance company can be a frustrating and overwhelming ordeal. However, with the assistance of a knowledgeable bad-faith attorney from Callender Bowlin, you can navigate the complex legal landscape and increase your chances of obtaining fair compensation. Remember to document all damages, consult with an attorney, and assert your rights to hold the insurance company accountable for their actions.

You can call us at (713) 955-9719 or by filling out our secure inquiry form to schedule a consultation with one of our attorneys to go over your case.