How Florida Hurricanes Affect Insurance Claims for Homeowners and Building Owners
Florida hurricanes bring massive losses to residential and commercial property owners. However, there’s some relief as most of the flood coverage is through the federal program, with some insurers offering additional benefits for those with homeowner’s insurance. Many homeowners take advantage of supplemental insurance on their property as hurricane damage in Florida can number in the tens of thousands of dollars. When a home sustains water damage, insurance experts advise Florida residential insurance policyholders to file claims fast.
With more than 100,000 claims filed every year, getting a claim settled efficiently ensures that the lives of those affected go back to normal as soon as possible. However, most property owners are usually surprised that their insurance doesn’t cover them from floodwaters. They need special flood insurance to cover damages. With homeowners in Florida finding out that their insurance coverage is not as good as previously marketed, it’s heartbreaking when insurers turn their back on policyholders when they are in need.
Predatory Insurance Companies
The financial tragedy that strikes after hurricane damage has caused many Florida residents and building owners to take out additional claims to secure their future. However, even after legitimate claims filing, some insurance companies deny those claims for mundane reasons, leading them to be dubbed predatory insurance companies.
In most cases, policyholders are unaware that the insurance company will not pay their claim until filing. The issue usually starts when deceptive tactics are used in sales to owners only for the policy not to hold any meaning. Suppose the homeowner suspects that there is something fishy; in that case, agents sometimes bring out another policy and owners have to churn out additional cash only to still not be covered should floodwaters damage their property.
Hire Guard Your Claim to Assist with Hurricane Insurance Claims
Hiring Guard Your Claim to assist is critical at this stage as its network of Florida insurance claims adjusters bring professional expertise to every commercial policyholder or residential insurance policyholder during the insurance claims process.
Guard Your Claim Negotiates
Insurance companies take time to settle claims, especially the ones resulting from a natural disaster. Assessment occurs in the entire affected area, and those inspections can cause delays. In Florida, there’s no set time when the law stipulates that a claim needs to be settled, which leaves policyholders at the mercy of insurers.
Insurers do need leeway to start investigations within 15 days after claims are filed. Still, after inspection, most Florida commercial insurance policyholders find their claims denied. The insurers find loopholes and drag their feet after offering a lower settlement than what is in the policy. It’s in the hopes that most policyholders will get frustrated and settle with the first low-ball offer.
In other cases, the insurance company makes a straight denial. When that happens, the policyholder is left to file a lawsuit in the courts. Before filing a lawsuit, however, Guard Your Claim can help policyholders with negotiations before filing a lawsuit. Guard Your Claim has specialty expertise navigating the insurance industry to help commercial insurance policyholders and residential insurance policyholders receive their proper settlement.
How Guard Your Claim Helps
When a Florida homeowner and business operator finds out that their Coral Gables commercial insurance and residential policies are unpayable after natural disasters and hurricanes, Guard Your Claim can help:
- Inspecting property damage and any personal injuries, further determining the amount insurers should pay.
- Gather evidence by interviewing the claimant and other witnesses and doing research even in police reports. Consultation is comprehensive and can include lawyers, doctors, engineers, and construction workers, among other parties relevant in the claim.
- Gather information, such as statements and photographic evidence, videos, and audio put together to help in the claim.
- Representation for the policyholder to manage the claim in its entirety until it’s paid.
Adjusters work in hand with appraisers to estimate the value of an insured item. Inspection determines the amount of cost of repairs or if the need for a replacement is necessary. It’s good to note that most claims adjusters also work as public claims adjusters.
Homeowners and commercial property owners hire the services of Guard Your Claim so they have representation during insurance claims negotiations. Our Coral Gables Insurance claims adjusters work for the insurance company. Having a personal representative during a natural disaster who represents the homeowner or the commercial building owner is extremely beneficial because conversations can drag on for months sorting out all the details.