insurance claim

[dan197]

We live in So. Dak. and had a building claim in the amount of
60,000. The insurance co. has denied our claim the last 1 and a half years,but wants to settle now and wants to know our demand of damages and our time of handling this claim. We had to get a loan to pay this lose and put a lot of our time in this repairing and clean up. Can we ask for punitive damage and how to you put a dollor amount on this? Is this also bad faith or breach of contract and what do you ask for? Any ideas would be helpful

 

[ALawyer]

What Took You So Long?

No insurance company will ever voluntarily offer or pay punitive damages to anyone stupid enough to handle his or her own case. Punitive damages are relatively rare, and go only to someone whose lawyer can demonstrate extra-ordinarily bad faith by the insurance companies. The potential that they may have to pay punitives is a major lever to get a fair settlement. But sucha threat, coming from someone who is not an expert, is hollow. If you tell them that unless they pay the full (and fair) amount you will get a lawyer and that lawyer will seek punitives, then they might listen. But watch your statute of limitations.....