You elected to take out homeowner’s insurance in order to provide you with peace of mind in the event of any accident or disaster. You have loyally paid your insurance premiums for years. Now, your home has experienced damage and your claim that you believed would be quickly paid out, has been denied.
When the insurance company disputes your claim or acts in bad faith, the result can be much frustration and stress. The following is a look at Florida insurance coverage disputes and bad faith claims.
Denials Based on Excluded Claims
One of the most common denial letters received by homeowner’s insurance claimants is that their claim is excluded under the terms of the policy. All insurance policies will include what is known as exclusions. Some policies will set out these exclusions more clearly than others. Just because your insurer has insisted the claim is excluded does not mean they are correct. A homeowner’s insurance attorney in South Florida will assist you in uncovering the true meaning of the policy clauses and assessing whether your claim should be covered.
Another common reason for denial will be that “no coverage exists for the claim.” Again, this will require an examination of the policy’s exact terms to see what is covered and what is not. The worst thing you can do is simply accept the initial denial as your insurance company could well have erred in denying your claim.
Bad faith is a termed used within the insurance industry to describe when an insurance company engages in improper handling of your claim, unfair adjusting, or actions contrary to basic standards within the industry and/or Florida law.
If you insurance company has denied your claim without adequate reason, delayed investigations, or engaged in any other actions that you believe are improper, you may be able to bring a bad faith claim against the insurer. If your bad faith claim is accepted, you could receive damages above and beyond your claim amount. Contact a homeowner’s insurance attorney as soon as possible if you believe your claim is being mishandled or denied in bad faith so that your attorney can start gathering evidence in support of your bad faith claim.
Rather than denying claims, some insurance companies will attempt to only honor a small portion of the claim. The validity of this action will depend upon the terms of your policy and the insurer’s argument in support of the partial denial.
When the insurer has refused to pay the whole policy benefits to which you are entitled, you should consult with an attorney as soon as possible. Your attorney will examine your policy and appeal the decision or potentially seek a bad faith claim that may entitle you to additional damages. The sooner you act, the quicker your attorney can begin solving your insurance dispute.
Greenberg Stone and Urbano: Skillfully Guiding You Through Insurance Disputes
If your insurance claim has been denied, you need the assistance of an experienced attorney with knowledge as to the unique issues surrounding this field of law. The Miami Homeowner’s Insurance Attorneys at Greenberg Stone and Urbano have the knowledge, skill, and resources you need to turn your denial into a payout. We have assisted individuals and small businesses with their insurance claims for over 130 collective years. Our exceptional results have earned us an AV rating from Martindale Hubbell and recognition as one of South Florida’s top firms by the Miami Herald. Call us at (888) 499-9700 or (305) 595-2400 or visit our website to schedule your initial consultation.