Your insurance policy is a contract that requires the insurance company not to seek a commercial advantage over you when a claim is made. Purchasing an insurance policy is to protect you against a calamity. The major motivation in obtaining insurance is to protect you from losses that are provided for by your insurance contract. The reason people buy insurance is to provide peace of mind and security in the event there is a loss. To protect these interests it is essential that an insurance company fully inquire into possible bases that might support your claim.
An insurance company cannot reasonably and in good faith deny payments to its insured without thoroughly investigating the foundation for its denial. The insurance company cannot unreasonably and in bad faith withhold payment of the claim. Your insurance company must give at least as much consideration to the policy holder’s insurance as its own.
When your insurance company wrongfully withholds your insurance benefits that you are entitled to you have an absolute right to seek additional compensation not just for your loss, but interests during the time payment is not made, under certain circumstances emotional damages, attorney fees and punitive damages.
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