Can you imagine being falsely accused of setting fire to your own home, or fabricating a theft loss?
Imagine for a moment that you have paid your insurance premiums to provide protection for losses that may occur to your property. In many instances, you have paid your insurance premiums for many years. You then have a loss at your home and you turn it into your insurance company, only to have them tell you it is not covered, or that you don’t have full coverage. Our homes and belongings kept in our home, are typically our most valuable assets. It can oftentimes be devastating, or even life altering to have your insurance company deny your coverage.
Can you imagine being falsely accused of setting fire to your own home, or fabricating a theft loss? In other words, your insurance company accuses you of a crime while you have sustained a loss. All of those years of paying your premiums, and you receive a letter in the mail stating that you are a criminal and a liar.
Your insurance policy is meant to protect you, and that is what you pay for. It is a binding contract between you and the insurance company. In essence, you pay them to assume the risk of any losses that you may have in the future. The insurance company is bound by the laws of Oklahoma to treat you fairly, in good faith and to pay according to the contract you purchased. Here are some samples of claims I have been involved with in the past and have successfully reversed the insurance companies initial denial:
- Falsely Accused of Arson to the home
- Large theft loss was initially denied as being a false claim
- Damages to the foundation of a home denied according to the policy
- Insurance company only wanting to pay to replace a portion of an insured’s hail/wind damaged roof
- Underpayment of theft claims
- Underpayment of roof damage claims
- Underpayment of jewelry losses
Your insurance company has a legal obligation to pay according to the policy that they created and sold to you. If they do not pay you according to the terms of the policy, your insurance company will also be liable for extra-contractual damages called “Bad Faith.” This means that the companies lack to treat you fairly under the terms of the policy, will create extra damages above the contract that they will owe you. These bad faith damages are your only real leverage to make an insurance company act properly.