Residential Insurance Claims
When you get residential insurance, your main goal is to protect yourself when you suffer a natural disaster or another covered occurrence. While insurance companies should respect any valid insurance claim, this may not always be the case. In some instances, an insurance company will deny or reduce a claim or even misrepresent its own policy.
At Florida Home Claim, P.A., we understand the complexities of homeowner’s insurance. We can help you file a claim if your residence has been damaged from debris, strong winds, fallen trees, sinkholes, and other natural disasters.
If your insurance claim was denied, you might be saddled with devastating financial hardships without a safety net to help you restore and repair your home.
You have legal options to dispute an underpaid or denied residential insurance claim to obtain the coverage you deserve under your policy benefits.
Bad Faith Insurance Claims in Florida
Investing in insurance is a contract that each side must uphold. On your end, you are obliged to pay premiums when they are due. On their end, the insurance company is obliged to uphold any legitimate claims you file.
When you file a claim, your insurance company is lawfully required to act in good faith by processing and paying out reasonable claims. Residential insurance lawyers in Florida can assist if your claim was wrongfully denied or the payout is much lower than it should be.
Bad faith insurance claims happen when:
- Claims are denied
- Claims are not paid promptly
- Claims are underpaid
Insurance companies try to save profits by not assuming responsibility for any damage caused to your house due to a hurricane, flooding, or another natural disaster. Insurance companies that fail to pay out legitimate claims can also involve car insurance, health insurance, and more.
When an insurance company acts in bad faith, you should fight back to recover the financial compensation you are entitled to—you may be able to recover up to three times the amount of your original claim.
Our capable attorneys have comprehensive experience in residential insurance claim cases. We realize the deceitful tactics some insurance providers utilize to restrict legitimate claims to protect their own interests. We have the resources and knowledge to hold insurance companies accountable and help you recover the financial compensation you deserve.
Types of Residential Insurance Claims
A copy of the HOA’s general policy should be requested when you move into a community with one. It often includes both the things for which you can and cannot make an insurance claim.
Water damage brought on by unexpected and unavoidable occurrences, such as burst pipes or overflowing washing machines, is covered by the homeowner’s insurance policy. Most insurance policies don’t cover water damage brought on by slow-moving incidents like leaks. Furthermore, the amount of coverage for water damage is typically limited by policies.
Damage of this nature can be caused by flash floods, powerful storms, hurricanes, or overflowing rivers or lakes. Usually, it happens when dry terrain becomes saturated by an excess of water or mudflow. Oftentimes, water or mold and mildew problems follow flood damage. Flood insurance is typically a different policy than your regular homeowners insurance policy.
A home or place of business may sustain significant water damage if cast iron pipes collapse. They are frequently beyond repair, and replacing them can be expensive ($10,000 or more). The amount of money paid for repairs has been capped or denied by insurance companies in response to damage claims.
First signs of roof leak damage include water stains on walls, damage to ceiling fittings, or even standing water. Before the water spreads to other areas of your house and causes more damage, it is crucial to stop the source of the leak by capping the leaky area or devising a means to collect the water.
By filing an initial claim with your insurer, the storm damage insurance claim procedure gets started. Whether your insurance company covers your claim in full, makes a partial payment, or rejects it will determine what occurs next.
Frequently, an insurance company will reject a claim for lightning damage. To demonstrate that the damage was brought on by a lightning strike, the insurance company will ask the homeowner for more information.
Mold exclusions may be present in insurance plans and may include terminology that is meant to restrict coverage for mold and mold-related damage. It is crucial to keep in mind, though, that mold might still be covered if it occurred from a loss that the policy covers. If the policy protected a burst pipe, an example would be mold development as a result of the pipe breaking.
Property damage from a fire should be assessed as a partial or complete loss. When a property suffers major structural damage that compromises its integrity, a total loss is likely to take place. Damage from smoke and fire may be included in partial losses, necessitating major restorations.
The majority of common homeowner insurance policies pay claims for smoke damage. This is often combined with coverage for fire damage in plans. Fortunately, laws governing the insurance industry in Florida are enforced by the Florida Office of Insurance Regulation. Customers can register complaints with this department regarding insurance-related claim denials.
The most ignored claims by property owners are plumbing leaks, however water damage from your kitchen is one of the most expensive problems facing homeowners today. If the problem is unintentional or unexpected, rather than the result of poor maintenance, your plumbing and leaks insurance will pay for it.
If your property is covered by insurance, you may be able to get reimbursed for costs and losses from theft and vandalism-related property damage. However, insurance companies rarely make it simple for you to receive the full compensation to which you are entitled, and they frequently underrate and reject your claim to save money.
Property Insurance FAQs
Does My Insurance Policy Cover Burglary Damage?
While all insurance policies are different, most homeowner insurance policies cover damages caused by vandalism or theft.
Is There a Difference Between Property Damage and Natural Disasters?
A natural disaster like a hurricane can prompt a number of claims all at once and can be considered a catastrophe. The specifics of this will depend on your insurance policy. Still, if a natural disaster resulted in property damage, you should be able to get coverage as provided by your provider.
Will My Property Insurance Cover Flood Damage?
If you live in Florida, you likely want to know how protected you are. Generally, flood insurance is provided through the National Flood Insurance Program instead of general property insurance. However, water damage itself not resulting from a flood is typically covered by most insurance properties.
Does Residential Insurance Cover Temporary Housing if My Property Is Damaged?
Often, insurance policies may offer coverage for temporary housing if your property is too damaged to be inhabited. It’s essential to check your insurance policy for more details.
What Happens to My Insurance Policy if I File a Claim?
It is possible for your insurance provider to rescind or cancel your policy once you file a claim in order to preserve their profits. If this happens to you, we can help you recover the financial compensation you are entitled to.
What Happens if My Insurance Provider Denies My Claim?
This isn’t uncommon. Insurance companies want to maintain their profits as much as possible, which means they commonly deny valid claims. If your claim is denied, you may need professional services to fight for the compensation you are entitled to. If an error occurred, we can address that or go through litigation.
Does Residential Insurance Cover Me if My Building Collapses?
Fear of your building or condo collapsing without warning is valid, and you don’t want to fight insurance companies if this occurs. These insurance claims can be complicated, but with an experienced residential insurance attorney, you won’t have to lose sleep or stay on top of your insurance company.
In this case, collapse refers to a building caving in unexpectedly. The entire building does not need to fall apart entirely, but there is typically significant damage to the structure for the insurance coverage to take effect.
Rebuilding a structure can be very costly, which is why insurance providers may deny coverage. This is why it is essential to seek proper legal representation so we can fight for your rights.
A Florida Residential Insurance Claims Lawyer Can Help Protect You
Natural disasters and any kind of property damage can happen anytime, which is why we invest in insurance to help protect us. If your insurance company has denied or undervalued your claim, your accomplished Florida attorney can conduct a comprehensive investigation into any evidence to help settle your claim dispute.
Our real estate attorneys will negotiate on your behalf to reach a fair settlement. If necessary, we will file a lawsuit to fight for the compensation that you have paid. Commonly, claims can be settled quickly, depending on the extent of your home property damage, insurance plan, and more.