Are you frustrated with your home insurance company offering low settlement amounts for your claim? Don’t worry; you’re not alone. Many homeowners face this situation, but it’s essential to know what steps to take to get the money you deserve.
In this blog, we’ll guide you through three essential steps you can take when your insurance company tries to shortchange you. We’ll also underscore the importance of enlisting the help of experienced professionals who specialize in insurance claim disputes to ensure you get every penny you’re owed.
Insurance Company Offering Low Settlement? 3 Steps to Take
Review Your Claim and Insurance Settlement Offer
The initial step you should take upon receiving a low settlement offer from your insurance company is to review both your claim and the settlement proposal meticulously. It’s critical to understand the insurance company’s reasoning for considering it a fair settlement and the particulars of what they are offering you.
Examine the details of your claim, including the type and extent of the damage incurred, the policy’s coverage limits, and any applicable deductibles. Evaluate the settlement offer to ascertain how it corresponds to your claim specifics. If you have any reservations regarding your claim or the settlement proposal, don’t hesitate to request further clarification from your insurance provider.
If you discover any inconsistencies or discrepancies, make sure to inform your insurance company and request a thorough reassessment of your claim.
More: What To Do When Your Home Insurance Claim Is Denied Or Delayed?
Get a Second Opinion from an Independent Appraiser
If you’re still unsatisfied with the settlement offer after reviewing your claim and settlement offer, it’s time to get a second opinion from an independent appraiser. An independent appraiser is a professional who can assess the damage to your property and provide an unbiased estimate of the repair costs.
Insurance companies have their own appraisers but may undervalue your claim to save costs. Getting an independent appraiser can help you determine the actual repair costs and the fair settlement value for your claim.
Ensure that the independent appraiser you hire is reputable and experienced in the type of damage you’ve incurred. The cost of hiring an independent appraiser is worth it if they can help you get a better settlement offer from your insurance company.
Hire an Attorney and Dispute the Insurance Settlement Offer
So, you’ve reviewed your claim and settlement offer and sought a second opinion from an independent appraiser. However, if your insurance company still offers you a low settlement, it’s time to hire an attorney.
An attorney can help you dispute the insurance settlement offer and negotiate with your insurance company on your behalf. They can also file a lawsuit if necessary to get the compensation they deserve.
Hiring an attorney can be expensive, but some attorneys work on a contingency basis, meaning they only get paid if they win your case. Before hiring an attorney, ensure they have experience handling insurance claim disputes and a good track record of winning cases.
Get the Money You’re Owed with Help from the Experts
If you’re feeling frustrated with a home insurance company offering a low settlement, don’t despair. You don’t have to face the claims process alone. Some skilled professionals specialize in insurance claim disputes, such as insurance litigation attorneys, who can help you fight for the fair compensation you deserve.
At RRBH Law, our team of experienced attorneys supports you every step of the way. With a wealth of knowledge in insurance law, we can help you navigate the legal system and negotiate with your insurance company to get the best possible settlement. We can also represent you in court to fight for your rights if needed.
Our attorneys understand the importance of having strong evidence to support your claim. We’ll work with you to gather the necessary documentation to build a compelling case. You can trust us to use our legal expertise to ensure you receive your insurance claim’s total value.
Don’t let an insurance company lowball you. Instead, contact RRBH Law today at 305-800-4663 for a free consultation. Let us help you get the compensation you deserve so you can get back to living your life.