When disaster strikes your home, you count on your insurance company to help get your family back on its feet through your property loss claims. After all, you followed the rules and paid your premiums.
You would expect your property loss claim to sufficiently cover important expenses like repairs, medical bills, and the replacement of your belongings.
But what happens when the insurance companies do not hold up their end of the deal? What should you do if your property damage claim is wrongfully delayed, underpaid, or – worst of all – denied?
Types of Property Loss Claims
A reliable, knowledgeable property insurance claims lawyer will be ready to discuss your case and help you understand your rights. Contact us at PALUMBO LAW for more information.
Denied Claims
Denied claims are the most straightforward and most devastating – the insurance company is refusing to recognize your claim as valid.
In what circumstance would a property insurance claim get rejected? These are some of the reasons property damage claims are commonly denied:
- Not filing your loss promptly
- Not keeping up with your premiums
- Insufficient documentation of loss
- Exclusion clauses in your policy
- Not taking steps to mitigate further damage after the initial loss
Fortunately, most of these pitfalls are easy to avoid. If there is some other reason your insurance company refuses to pay out, they may be acting in bad faith.
Contact PALUMBO LAW’s property damage lawyers to review your claim and learn about your rights.
Delayed Claims
Insurance companies acting in bad faith will often delay property damage claims to take advantage of customers being in a tight spot. It’s usually part of a scheme leading up to a lowball offer.
The insurance companies know that the pressure of mounting expenses and delayed repairs makes you less likely to argue when the settlement offer finally comes in.
Don’t fall into their trap! Look out for these common delay tactics:
- Asking for information a little bit at a time
- Making it difficult to get updates about your claim
- Confusing, obscure language in your policy
By the way, even if an insurance company eventually does pay, the delay has already allowed them to earn interest on your money.
Property insurance loss attorneys specialize in helping recoup not only the settlement to which you’re rightfully entitled, but can also pursue unfair profits the insurance company made on your money while giving you the run-around.
Underpaid Claims
An underpaid property damage claim means the insurance company’s offer does not reflect the true value of the claim. This leaves you scrambling to cover expenses.
To avoid underpaid claims:
- Keep records of all correspondence with your insurer.
- Ask how the insurance company arrived at its valuation.
- Consider hiring a public insurance adjuster to evaluate the damage.
Whether it is because of a rushed investigation, inappropriate valuation of your belongings, outdated pricing on construction and materials, or something else, an insurance company that gives you an unfair offer in bad faith is not only failing to fulfill your policy – they’re breaking the law.
How a Property Insurance Claims Lawyer Can Help You?
The experienced property damage lawyers at PALUMBO LAW regularly make insurance companies pay for wrongfully denied, delayed, and underpaid property damage insurance claims. We can help you navigate property damage claims resulting from fire, storms, fallen trees, water, mold, and more.
If your insurance company is acting in bad faith, don’t wait another minute. Call PALUMBO LAW today!