Homeowners insurance is notoriously complicated and confusing. In fact, many policyholders hope they never have to use theirs because they do not understand the ins and outs of their coverage. The insurance companies are counting on your confusion. Will you let them get away with denying coverage, or will you hire an insurance claim lawyer to clear things up?
If you haven’t had to think too much about your homeowners insurance, consider yourself lucky. Being able to forget about what your policy covers means you have not had to file a claim in some time (perhaps ever).
Then again, if you haven’t had to use your coverage recently, that means you might need a refresher on what your policy covers and what it does not cover. And even if you know what is included in your policy, do you really understand how it all works?
Your insurance company would rather keep you in the dark about some pretty important aspects of your policy. Here are a few.
You May Be Entitled to Replacement Rather Than Repairs
If you purchased a policy that stipulates you are entitled to the replacement cost of a damaged item or part of your home, you should have the property in question replaced rather than repaired.
Even thorough repairs can miss damage. Don’t settle for less if your policy says your property should be replaced.
Your Insurance Company Has to Prove Water Damage Is the Result of Flooding
With Florida’s low-lying land and abundance of water both near the coast and inland, many homes in the Sunshine State are at risk for flooding. But that does not mean that all water damage to your home is the result of flooding.
In Florida, homeowners need a separate flood insurance policy to protect their property from this type of water damage. Your insurance company may try to deny you coverage claiming that water damage that occurred in your home was the result of flooding, but Florida has a relatively narrow definition of flooding.
They must prove that the water damage to your home meets this definition if they want to deny you coverage.
Contact an insurance claim lawyer today at RRBH Law.
You May Be Eligible for More Compensation Than Your Policy’s Total (Talk to Your Insurance Claim Lawyer)
Don’t just assume that the limits on your homeowners insurance policy are the maximum you can recover—if you have inflation coverage, the amount you can claim may be able to exceed this number.
Settling Fast Is Not Always in Your Best Interest
You have to repair your home, but don’t be too tempted to take the first offer that your insurance company puts forward. If they seem eager to settle quickly, that could be a sign that they are trying to lowball you.
Need Help? Call an Insurance Claim Lawyer Today.
Don’t wait to act. Our attorneys are waiting to help you. Contact us today.