Water damage can happen unexpectedly, be it from a leaky pipe, a sudden storm, or a faulty appliance. When this happens to your home, it leaves behind a trail of destruction and financial strain.
In general, insurance is meant to provide a safety net during these times. Still, many homeowners find themselves battling for fair compensation. What are your legal options in such a situation?
Insurance companies are required to handle claims in good faith
Here are some signs that your insurance may be shortchanging your water damage claim:
- Lowball estimates that do not cover full repairs
- Delays in processing your claim
- Refusal to pay for hidden damage discovered during repairs
- Denying coverage based on policy exclusions without proper explanation
- Pressuring you to accept a quick settlement
If you encounter these issues, do not give up. You have options to fight back and get the compensation you need.
Prompt action is key in resolving insurance disputes
First, document everything meticulously. Take photos, keep records of all communication with your insurer and get independent estimates for repairs.
Refrain from signing any documents without fully understanding them. Insurers may try to get you to sign a release that limits your ability to claim additional damages later.
In Florida, homeowners have additional protections. The state’s Homeowner Claims Bill of Rights outlines specific timeframes for insurers to respond to claims. It also gives you the right to request mediation or a neutral evaluation if you disagree with your insurer’s decision.
If you feel overwhelmed or your insurer continues to lowball your claim, it may be time to obtain legal help. An experienced attorney can help you understand your policy, negotiate with your insurer, and, if necessary, take legal action to ensure you receive fair compensation.