What should I do if my insurance claim adjustment is too low?
January 19, 2014 - MarcWites
WHAT SHOULD I DO IF MY INSURANCE COMPANY DOES NOT PAY THE FULL VALUE OF MY CLAIM, OR DENIES MY CLAIM AND REFUSES TO COMPENSATE ME?
You do not have to accept the valuation assigned to your claim by your insurance company. You have rights under your insurance company to receive all of the benefits for which you have paid insurance premiums.
If the insurance company and its insurance claims adjuster have under valued your claim, you should immediately contact a lawyer to review your case.
Unlike insurance companies, who maximize profits by charging the highest possible premiums and paying the smallest possible amount for claims, an insurance claims lawyer works only for you, to protect you and your interests.
An insurance claims lawyer will review your case, and with a team of professionals determine the full value of your claim and the benefits to which you are entitled under your insurance policy.
WHAT IF THE INSURANCE COMPANY REFUSES TO PAY ME ANY MONEY FOR MY CLAIM?
If your property insurance claim has been denied, you may fight the insurance company to obtain the benefits you deserve. An insurance claims lawyer will represent you and your family and will fight to obtain the coverage you deserve and for which you paid.
The law requires that insurance policies be read in favor of the insured, and whenever there is doubt the decision must always be to afford coverage to the property owner. The law also requires the insurance company to pay for your legal fees when you win the case.
When your insurance claim is denied, an insurance claims lawyer may be able to help you obtain the coverage you deserve.
WHO’S SIDE WAS YOUR INSURANCE ADJUSTER ON?
Insurance adjusters sometimes undervalue or deny claims because their loyalty is to the insurance company, which signs their paycheck, and not to you and your family.
There are several types of insurance claims adjusters:
- Staff adjusters – employed by the insurance company
- Independent adjusters – usually hired by the insurance company but can also work for the policy holder
- Public adjusters – employed by the policy holder (claimant)
Do you know which type of insurance adjuster assessed your claim? The insurance company has an army of claims adjusters and lawyers on their side. You should have your own representation too.
STUDY THE VALUATION
The claims adjuster should have provided you with a copy of his or her estimate of the damage to your property and the cost to repair it. Study this carefully. Do the details and the figures seem reasonable? If not, and you feel as if you are being unfairly compensated, consult with your own insurance claims lawyer or adjuster to make sure your claim is properly valued.
Many property owners are unaware that they can have their own representation when dealing with insurance companies and feel that they cannot afford to hire their own insurance claims lawyer or public adjuster.
You are not alone. You have the right to your own representation, and most often the insurance company will pay for your legal fees. Insurance claims lawyers are experienced with the valuation, adjustment and payment of property damage insurance claims, and can help you obtain full value for your claim.
INSURANCE CLAIMS LEGAL REPRESENTATION
Your insurance company is using an army of adjusters and lawyers, and you should employ your own team of professionals. Many people are unaware that they can challenge the sum of money offered to them by their insurers, and ask for more.
They wrongly believe that because they are paying the insurance company a premium for protection that they will be working in their best interest.
However, the reality is that many insurance companies focus on keeping their costs down and their profits up, meaning that they may attempt to settle your claim for as low a figure as possible.
If your claim is denied, or if there is a meaningful difference between the amount your insurance company offers and the amount you need to repair and replace your damaged property, you should consider hiring a lawyer.
At Wites Law Firm, our initial consultation is free. Our reputation precedes us, and we fight tooth and nail to get our clients what they deserve, in a timely manner.
You have already had to put up with the stress, discomfort, and inconvenience of your property damage, so why should you lose out financially too? Get a second opinion and be sure that your losses are adequately reimbursed.
Wites Law Firm has a legal team that specializes in insurance claims and has taken cases as far as the Florida supreme court where we have won and forced the insurance company to pay the full amount of its $2 million dollar insurance policy.
If you are going to fight your insurance company to get what you are owed make sure you bring a team of lawyers who will show that you mean business!
The reason is that once the lawsuit is filed, your insurance company is obligated to pay your legal fees and costs if you settle the case in litigation or win the case at trial.