Having your home damaged isn’t a pleasant experience. In fact, it’s usually very stressful. As homeowners, you rely on your homeowner’s insurance to protect you from paying exorbitant amounts of money to repair your home, especially when the repairs are expensive. Unfortunately, it’s normal for insurance companies to deny claims that you make for one reason or another. While it may seem like your homeowner’s insurance should be there to protect you, insurance companies have a financial interest in denying coverage.
Typically in your insurance contract you will see a line that says something like “various provisions in this policy will limit coverage.” Essentially, insurance companies write in reasons to deny you coverage that are hidden all over the policy and are often hard to understand. For example, one Florida insurance company has a provision that limits payment for “Reasonable Emergency Measures” to $3,000 or 1% of your Coverage A limit unless you get its permission to exceed this limit. While that may sound reasonable on its face, the policy fails to specify when the request must be made as well as fails to tell you what is a “reasonable emergency measures” so you don’t know if you need approval or not. Not to mention, you may not even know that this provision exists if your insurance company didn’t tell you about it when you bought your policy. Insurance companies use these confusing provisions to deny your claims on a daily basis.
Insurance companies also fail to pay you the full amount owed under various circumstances. For example, imagine you hire a contractor you trust to repair your home after a flood. The insurance company may not pay the bill in full if it gets a competing contractor to quote the repairs for a lower price. While this argument seems to make sense, your insurance must cover the actual expenses you incurred to repair your home.
As you can see, when the insurance company denies your claim, it isn’t always right. In those cases, having a lawyer review your claim denial is a good idea. A lawyer can tell you whether or not he or she thinks your claim was wrongfully denied and what your options are to fight back. Under Florida law, if you sue your insurance company for breach of contract and win, the insurance company has to pay your attorney’s fees and costs. That way, you have the money you deserve to fix your home without having to worry about paying a lawyer. Also, a lawyer will know if there are additional funds you can recover from your insurance company above and beyond what you are owed for repairs to your home.
It’s important to hand over these issues to experienced lawyers so that the insurance industry is held accountable. If you’ve had an insurance company deny a claim, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (727) 827-7777 today.