As much as homeowners’ insurance protects your home, the storm of dealing with insurers might be equally formidable. Holding insurance companies accountable becomes essential, as they have been known to underpay, delay, or even deny claims. This leaves homeowners vulnerable at times when they need help the most.
Filing of Claims: Steps after the Hurricane
After most of the destruction due to a hurricane, claim submissions to an insurance company reach a large number. Many people think that after a hurricane, insurance companies would process all claims because lots of them have arisen due to this kind of natural disaster; such is very rare.
Sometimes, the opposite will occur: Insurance companies will resort to various tactics to avoid paying or delaying the rightful amount.
Your insurance company will lowball you with an amount that is less than what it takes to fix your house. Even if you should be covered to its full cost, they will use the lowball amount to bargain.
Delayed Payment of Claims
Insurance companies delay claims processes hoping one homeowner will give up or just accept a smaller payout to have something. Insurance companies can delay the claims process by holding off visits by adjusters, stretching investigations, or requesting additional paperwork ad infinitum even if all paperwork has been filed.
Paying Claims Incorrectly
The insurance company agrees to pay for the claim but pays much less than what repairing the damage would cost. Insurance companies may offer a lowball, refuse to cover certain types of damage, or depreciate your home’s value.
Denying Hurricane Damage Claims
Sometimes, an insurance company will deny a claim based on damage that occurred before the storm or on a technicality with no insurance coverage.
How to Stay Safe After a Hurricane
Dealing with your insurance company after a hurricane or similar kind of disaster can be quite challenging.
Here’s how to protect your home and self before and after the storm:
Check the Insurance Policy Being Purchased
There are many kinds of damage due to hurricanes-wind damage and flood damage, for example. Some of these will require special insurance, which is outside the scope of most standard homeowner policies. Do this well in advance of the hurricane so you can be sure your house is covered in case of a storm. It will also show you what your policy will cover in case the insurer denies the claim.
Hurricane Deductible
Review your policy to see if it includes a hurricane deductible. While few carry a hurricane deductible, some policies charge an additional deductible when a hurricane hits. In this case, you have to pay the deductible before the insurance company covers any repairs. Holding insurance companies accountable for the terms and conditions of your policy is essential, especially when dealing with these extra costs, ensuring they uphold their responsibilities in covering the damages after the deductible is met.
You would not like to land up with a high deductible that will compel you to pay for some really big amount of money because you didn’t know much about it.
Have your deductibles reasonable well before a storm hits, so you can change companies or policies if needed.
Pool Enclosures & Screened In Porches
You should check if your pool enclosure or screened-in porch is covered against wind damage and other types of hurricane damage. The screen enclosures were not built to withstand hurricane-force winds. Even if it looks fine, you may discover damage later.
Replacement Cost vs. Actual Cash Value Policies
It must be made sure that your policy covers your replacement cost instead of cash value. Cash value policies would cover only replacement costs and not cash value for your property. The reason is that a cash value policy pays you the amount the property would have been worth if it had been sold in its condition and age before the incident. This might cost less than the price of a new one. Both policies pay only after the deduction of a deductible. If you have a cash value policy, then you are probably paying overage.
What to Do After the Hurricane
There are other things you can do to ensure you’re prepared, besides understanding your policy.
- Document everything: Take before and after photos so that the insurance company cannot claim the damage is pre-existing.
- Do not take their first offer: They may lowball the insurance company in the expectation that you will settle because you will be frustrated.
You may contact an attorney experienced in dealing with insurance companies to obtain a lawyer’s advice.
How Will You Navigate Legal Changes That Will Affect Your Insurance Policy?
In 2022, Florida’s legislators approved Senate Bill 2D.
This bill made reforms to insurance policies. The reform bill’s goal was to reduce rising insurance premiums, reduce lawsuits, and stabilize Florida’s insurance market. Senate Bill 2-D includes the following reforms:
- Transferring claim rights from the policyholder to a third party so that they can deal directly with the insurer.
- The insurance industry is no longer obliged to pay attorney fees for policyholders and the number of attorneys fee multipliers has been restricted.
- Insurance companies can offer roof-deductible options to homeowners and separate policies.
- Florida created a $2 Billion Reinsurance Fund to provide insurance companies with backup coverage.
- Insurance companies must respond and settle claims faster.
Summing Up!
Was your home damaged by a storm? Are they, not truthful about holding Insurance Companies Accountable? We are on your side.
We cannot protect you or your home against the weather. Here at Jenkins Law we can fight for you with insurance companies who try to avoid paying what is owed. Holding insurance companies accountable is our priority. We are here for you each step of this stressful time. Call in and come by immediately to receive a free consultation if your insurance company is either delaying or underpaying payments. We are available to you at any time, any day. Jenkins Law PL is here to help you.
