Stipe & Belote Wins Significant Jury Award in Insurance Bad Faith Case

May 4, 2011 - PRLog -- Insurance bad faith is best described as an insurance company’s failure to handle a claim in a fair and reasonable manner. You see, insurance providers are required to investigate and pay claims in good faith. If they purposefully try to find reasons to deny coverage or delay payment, they may be held accountable for their misconduct.

Insurance bad faith claims is one of the key areas of practice that the attorneys at Stipe & Belote handle. The Oklahoma City law firm represents clients injured in all types of accidents who have had their insurance claims wrongfully denied or delayed or who have been offered unfairly low settlements that will not cover all of their expenses and losses. For more information about the firm, click here: http://www.stipeinjurylaw.com/

Most recently, Stipe & Belote won an insurance bad faith claim for a client that was not only denied coverage but that was wrongfully penalized by the insurer for not having proper insurance coverage on the property when they were fully insured. The skilled team at Stipe & Belote filed a lawsuit against LeMars Insurance Company for bad faith practices in handling an insurance claim for Optiz Inc., dba 5 Star Storage. The outcome was a jury verdict in the favor of 5 Star Storage.

After the case was tried, the jury found that LeMars Insurance Company intentionally did not pay the insured, 5 Star Storage, the amount of money that would be necessary to repair hail damage the insured’s property had sustained. The insurance company also wrongfully penalized 5 Star Storage in the amount of $95,000 for failing to have proper coverage on the property, though it was fully insured. Upon the conclusion of the trial, the jury found that LeMars Insurance Company was in breach of its insurance contract with 5 Star Storage and acted in bad faith. The jury awarded $415,000 in actual damages and $225,000 in punitive damages to the plaintiff, 5 Star Storage. The total judgment was $754,125, with the inclusion of pre-judgment interest. The company is also entitled to recover attorney fees.

While we would like to assume – and have the right to expect – that we will be treated fairly by the insurance company that handles our claim, this does not always occur. Some providers get caught up in making a profit instead of helping policyholders and may act in bad faith in handling a claim. If this has happened to you, please do not hesitate to consider your legal options. An Oklahoma City injury attorney at Stipe & Belote may be able to offer you the legal representation you need to seek fair compensation for your original claim, plus damages.

Contact the firm today to discuss your case and options: http://www.stipeinjurylaw.com/contact-us.aspx

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At the Law Offices of Stipe & Belote, the Oklahoma City personal injury team has fought vigorously for the rights of innumerable clients over the years. They have successfully obtained settlements from the insurance company and verdicts in court that allow the victim to receive just compensation after an accident. The two partners at the firm, Jack Stipe and James Belote, have more than 30 years of combined legal experience. They are fully dedicated to their clients and ensuring that this accident does not leave them injured, ill or disabled without the means to provide for their medical expenses and their lost income. As a skilled and practiced personal injury team, they have knowledge and resources that are unparalleled in the Oklahoma City legal community. Do you need a personal injury lawyer who is aggressive in negotiations and in court, yet also caring and compassionate toward clients? Visit the firm’s website at: http://www.stipeinjurylaw.com/.