Most people purchase insurance coverage with the expectation that, in the event of a covered loss, the insurance company will pay the claim without resistance. Unfortunately, this is not the case. Many times when a person files a claim, they are met with questions many questions from the insurance company. Often, insurance companies will delay or prevent payment. Insurance companies often times try to maximize profit by minimizing payments to their policyholders. Kentucky law prohibits an insurance company from denying claims that it should pay. When an insurance company refuses to pay a valid claim, the insurance company is acting in bad faith.
If an insurance company is refusing to pay and acting in bad faith – stand up for your rights!
KRS 304.12-230, titled the “Unfair Claims Settlement Practices” statute, outlines exactly what constitutes bad faith in Kentucky. There are 17 – yes, seventeen – often-used practices which are expressly forbidden by Kentucky law. If you would like to review the list, please click here. Insurance companies who act in bad faith can be liable for much more than simply the original amount demanded. The law provides Kentucky citizens with a right to sue insurance companies for additional damages if the company is acting in bad faith. Don’t back down, fight back by hiring an experienced legal team to defend your rights!
Is an insurance company unfairly denying your claim? Call us and speak with an attorney about a bad faith claim. Is an insurance company undervaluing your claim? Call us and talk to an attorney about your case before accepting low-ball offers. We fight insurance companies every day to get our clients every dime they deserve. Insurance bad faith is a very serious issue. You have paid for coverage, and deserve the benefit of that coverage in your time of need. If you suspect your insurance company is acting in bad faith, please give us a call at 859-258-2697 to speak with an attorney today.