Is Your Property Really Insured?

As soon as you buy a property, it’s wise to purchase insurance to protect it from accidents and natural disasters; however, it’s challenging to find coverage that’s right for you and your needs. Unfortunately, some insurance companies are practically professional scam artists, so even if you think you’ve found the proper insurance, you may not be as covered as you think.

Therefore, Strems Law Firm, P.A. is here to help you consider if your property is adequately insured.

Coverage Confusion

Many people skim their insurance contracts and assume they own coverages in areas that they don’t. For example, many homeowners believe that flood damage is a part of the general homeowner’s insurance, but that’s not necessarily true.

Some homeowners living in flood zones are required to obtain and maintain minimum flood damage protections, but other homeowners can insure their house without owning this type of insurance. As a result, flood damage is often a separate piece of insurance that many Florida homeowners have to get willingly.

Therefore, some homeowners may think their insurance coverages protect them and their property, but in reality, they don’t.

It’s essential to note that the insured isn’t entirely out of luck if a flood occurs and they don’t have flood insurance. In many cases, other insurance coverages partially protect homes and items from water damage. For this reason, it’s essential to talk to an experienced property insurance attorney if an insurance company denies a claim.

Another cause of insurance coverage confusion stems from the legal definitions of damage types.

Damage Definitions

Insurance companies love nitpicking damage definitions to deny claims and prevent payouts. For example, let’s assume that a flood hits and that you have flood insurance. Thankfully, your home is on a hill, which prevents the floodwaters from getting in.

Although the tide fails to get into your home, it breaks a pipe that ends up flooding the first floor of your home. At this point, you are ready to file a flood insurance claim because the flood indirectly caused the damage, right?

Wrong.

In this situation, an insurance company might deny a flood insurance claim by arguing that the pipe flooded your house rather than the floodwaters. Therefore, your damage doesn’t qualify for a flood insurance payout; it only qualifies for a water damage payout.

In this situation, the denied claim may mean that you have to file again, and it also may mean that you won’t recover as much.

Here is another example: let’s assume that you and your family have to evacuate your house for a month due to floods. While your gone, floodwaters get into your home and flood the first floor.

As you’re stuck waiting for the green light to return to your home, the floodwaters in your house start to breed mold and mildew. When you finally get back to your house and begin cleaning up, it takes you two weeks to realize that mold decay has severely damaged the interior of your home.

When you file a flood insurance claim, you mention the severe mildew decay that’s eaten at the foundation of your home. Unfortunately, the insurer denies your claim, stating that you did not do “everything in your power” to avoid the outbreak because you didn’t hire a professional to remove the mold when you got back into your house.

As you can see, damage definitions can result in denied claims based on sneaky technicalities. However, an experienced property insurance attorney can help you fight back!

If you believe that you deserve compensation for a denied property insurance claim, it’s time to reach out to Strems Law Firm, P.A.. One of our attorneys can review the facts of your case and argue against insurance agents to give you a shot at recovering.

The last reason to question if your property is really insured is due to dubious dealings.

Dubious Dealings

Insurance companies exist to make money, and their liabilities are threats to this end goal. For this reason, insurance companies may use shady tactics to deny claims in hopes that they don’t have to payout.

Some insurance companies will protect their profits by:

  • Outright denying legitimate claims;
  • Withholding damages to force desperate families to take lowball settlements;
  • Trying to goad liabilities into offering information that will hurt their claims;
  • Intentionally undervaluing liabilities’ assets to offer lowball settlements.

In the circumstances mentioned above, insurance companies legitimately owe money to their liabilities but choose to forgo their responsibilities for the sake of profits. Therefore, while the liabilities’ properties are technically covered, the insurance companies do everything they can to make them question if they are really insured.

As you can see, insurance companies aren’t interested in helping their clients get the compensation they deserve. Therefore, if you or a loved one is facing a denied property insurance claim, it’s wise to talk to an experienced property insurance attorney about your predicament.

Talk to an Attorney Today

At Strems Law Firm, P.A., we have seen insurance companies commit to profits rather than people time and time again. Our goal is to keep insurance companies accountable for the contracts they’ve made with their clients and to help our clients get the compensation they deserve for their claims.

Ready to talk to an experienced property insurance attorney at no charge to you? Call (786) 661-3111 now for a free consultation concerning your claim!

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