Insurance companies are obligated to act in good faith when dealing with their clients. However, when they fail to do so, policyholders may be entitled to file a bad faith insurance claim. In this ultimate guide, we will walk you through the legal steps of pursuing a bad faith insurance claim in Missouri. (About Us Presley and)
What Is Bad Faith Insurance?
[Definition: Bad faith insurance is an insurance company's breach of its contractual or legal duties to its policyholder, resulting in damages to the policyholder.]
When to File a Bad Faith Insurance Claim in Missouri
If you believe your insurance company has acted in bad faith, you should consider filing a claim when:
- The insurer denies coverage for a valid claim.
- The insurer delays processing or paying a claim without a valid reason.
- The insurer offers a settlement significantly lower than the policy's value.
Gathering Evidence for a Bad Faith Insurance Claim in Missouri
To build a strong case, you should gather the following evidence:
- Policy documents
- Correspondence with the insurance company
- Medical records
- Expert opinions
- Witness statements
Filing a Bad Faith Insurance Claim in Missouri
To file a bad faith insurance claim in Missouri, follow these steps:
- Contact an experienced insurance attorney.
- Provide your attorney with all relevant documents and evidence.
- Your attorney will review your case and determine the best course of action.
- If necessary, your attorney will file a lawsuit against the insurance company.
- Attend all required court hearings and depositions.
- Your attorney will negotiate a settlement or represent you in court.
Missouri Statutes Governing Bad Faith Insurance
The following Missouri statutes govern bad faith insurance:
- Mo. Rev. Stat. § 375.530
- Mo. Rev. Stat. § 375.535
- Mo. Rev. Stat. § 375.540
FAQs About Pursuing a Bad Faith Insurance Claim in Missouri
Here are some frequently asked questions about pursuing a bad faith insurance claim in Missouri:
| Question | Answer |
|---|---|
| What damages can I recover in a bad faith insurance claim? | You may be entitled to recover compensatory damages, including economic damages and non-economic damages. |
| How long do I have to file a bad faith insurance claim in Missouri? | You have five years from the date of the insurer's breach of contract to file a claim. |
| Can I file a bad faith insurance claim if I only have property damage? | Yes, but the damages must be significant. |
Contact Us
If you believe your insurance company has acted in bad faith, contact Presley and Presley Trial Lawyers today for a free consultation. Our experienced attorneys will help you navigate the complex legal process and fight for the compensation you deserve.