Florida homeowners have watched their premiums increase rapidly over the last few years. In addition to the rising cost of insurance, insurance scandals have hit many of the big name insurance providers, making homeowners wonder about the payment of claims when they happen. While a homeowner is at the mercy of the insurance companies to some extent, there are steps that a homeowner can take to get the home protection that he needs while preserving some of the budget. However, even when the homeowner has done everything right, there are times when he faces a devastating claim denial.
The skilled Miami homeowners’ insurance attorneys at Greenberg Stone and Urbano have spent more than three decades fighting for the rights of homeowners who dutifully paid their premiums only to have a claim denied or underpaid when it mattered most. We will work hard to get you the payment that you deserve.
In order to set the homeowners’ insurance premium rate on a person’s home, the insurance company will analyze the home based on:
• Location of the property;
• Date that the structure was constructed;
• Square footage of the residence and other structures being covered, including the garage;
• The presence of a pool;
• Other unique aspects of the home; and
• Coverage amount, and • And an inspection of the property (at times)
Once the insurance underwriting data is input into a system that calculates general rates, the specifics of the home are entered, including the internal configuration and other factors that are used to calculate home replacement value in Florida. However, there are credits that are available in Florida that are supposed to reduce the insurance rates paid by homeowners. In accordance with Florida Statute 627.0629, insurance companies are supposed to offer “discounts, credits, or other rate differentials.” These credits may apply if the homeowner has installed protections against windstorm. In order to get the credit for the wind mitigation work, the homeowner must have an inspection performed by a licensed inspector; however, the savings can far exceed the cost of the inspection.
Another credit is applicable if the homeowner has a centrally monitored alarm system Covering both fire and break-ins In order to get this credit, the homeowner must supply an alarm certificate that affirms the central monitoring and that the alarm system is currently active. Although this credit is much less than the wind mitigation efforts, it will add to a homeowners’ savings.
Other credits may apply depending on the:
• Specific county in which the home is located;
• The age of the residence; and • The unique circumstances of the applicant.
There are ways to reduce rates while ensuring adequate protection on the home in the event of a accident or weather emergency that requires repair or rebuilding. However, if you already have a claim and the insurance company has refused to honor its part of your agreement, you need an experienced homeowners’ insurance attorney.
South Florida Homeowners Insurance Attorneys Fight For the Coverage You Deserve
A home is one of the most expensive purchases that a person can make. In addition to the fact that insurance is a required component of obtaining and keeping a home mortgage, it also is the safety net for any repairs or rebuilds that might be necessary after a devastating event. When a claim is denied, a homeowner may feel that he has nowhere to turn, but the skilled homeowners’ insurance attorneys at Greenberg Stone and Urbano have more than one hundred years of combined experience in getting justice for homeowners. Our dedication to our clients has led to an “AV” rating from Martindale Hubbell as well as a high rating from Primerus. In addition, we have been voted a top-rated South Florida firm by the Miami Herald. Our firm has spent more than thirty years developing the knowledge and commitment to get the best results for our clients. To learn about how we can help you, call (888) 499-9700 or (305) 595-2400 or visit our website.