Lake City Bad Faith Insurance Claims Lawyer
You rely on insurance coverage to carry you through difficult times, whether you’re involved in a car accident, sustain damage to your home, or need to address liability as a business owner. As such, it can be frustrating to suffer loss a second time when your insurance company denies your claim or offers a lowball amount to cover your damages. Moreover, not getting the benefit of your bargain in the contractual relationship can be financially devastating.
If this description sounds familiar, you could be dealing with a situation of bad faith under Florida law. In sum, the statutes governing insurers require them to meet certain requirements when addressing claims by policyholders, so these companies can be held accountable for noncompliance. Our Lake City bad faith insurance claims lawyers at Douglas & Carter can explain in more detail, so please contact our firm to set up a consultation today.
Foundation of Bad Faith Insurance Claims in Florida
Initially, you should understand that the legal basis of a bad faith action comes from your relationship with the insurer. As a policyholder, you are a party to the insurance contract with the company. You would file first-party claim for coverage under your policy when your vehicle, home, business, or other interests sustain losses from an accident, weather, or other circumstances.
The arrangement is different from a third-party claim, such as one you would file with someone else’s insurer for injuries from a car accident. There is no contractual relationship with the insurance company, so it doesn’t owe you the same duty as that which applies in a first-party claim.
Enforcing Your Rights as a Policyholder
By law and regulations established by the Florida Office of Insurance Regulation, insurers are required to act in good faith in all dealings with policyholders. If a company fails to pay a rightful claim, filed by you in accordance with the policy requirements, such misconduct may violate this rule. Whether the insurer improperly denies your claim or makes a lowball offer that doesn’t comply with your coverage rules, you may have rights through a bad faith insurance claim.
Compensation in a Successful Bad Faith Insurance Claim
You may be able to recover monetary damages for all losses stemming from the insurance company’s misconduct in a bad faith insurance lawsuit. For instance, it’s possible to obtain:
- The value of your claim that was wrongfully denied, or the difference in value if the insurer offered a low amount;
- Any costs resulting from the denial;
- Punitive damages to punish the insurer for unlawful conduct AND discourage other companies from doing the same; and,
- Court costs and attorneys’ fees.
Discuss Your Situation with a Lake City Bad Faith Insurance Claims Attorney
It can be difficult to discern whether an insurance company is rightfully denying your claim, as opposed to engaging in misconduct when you seek payment for your losses. You can trust our team at Douglas & Carter to analyze your situation and determine the best way to proceed with enforcing your rights. Please contact our firm right away to schedule a case evaluation with a knowledgeable lawyer who can evaluate your circumstances and advise you on your options.