Securities Fraud Lawyers Blog
After a catastrophic storm, the first thing you’ll probably do after making sure your loved ones are safe is to go out and assess your property damage. With Hurricane Irma bearing down on Florida’s coast, many Floridians are taking steps to secure and protect their property.
However, events best storm preparations are not always able to fend off the destructive force of a hurricane. If you are a Florida resident, chances are you’ve been through a destructive storm before. If you’ve lived through a Florida hurricane, than you know just how great the potential for property damage is.
Fortunately, many state residents have home and property insurance for instances like these. Insurance on your home and property should give you the peace-of-mind that, in the event of a catastrophic storm, you will be able to recoup the value of your property due to loss. But what happens when you receive a settlement offer from your insurance company that in no way meets your expected total loss value? Chances are, it’s not that you have over-inflated the value of your property.
Unfortunately, it has become the practice for many insurance companies to offer under-valued insurance claims settlements to home and property owners after major storms. This is because, after a catastrophic event, insurance companies are stretched thin. Most likely, they will have A LOT of claims that need to be processed and a lot of money to distribute.
You may end up with a less-than-necessary amount for a claim, because your insurance company will want to move your claim along as quickly as possible. However, you should not allow yourself to be taken advantage of. Hoe and property insurance exists for you to recoup losses due to damages, not for insurance companies to pad their pockets.
Review Your Insurance Settlement
Make sure you carefully review any insurance settlement you receive for damages. Before you accept it, make sure it makes sense. You should not be intimidated by your insurance provider, they are there for YOU. If something does not look right to you or you have a question, discuss it with your insurance company.
Sometimes, it can be helpful to get a second opinion or another set of eyes to review your insurance settlement. An attorney specializing in insurance disputes or contract review can be a great resource to you when reviewing your claim. They can help you catch any issues and even provide some reinforcement if you end up disputing the claim amount.
Hurricane Irma is projected to majorly impact Florida. It will likely result in extensive home and property damage as it passes through the state. If you file a claim and have questions about your settlement that the insurance companies won’t answer, contact an attorney for a review.