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READ MOREInsurance Claims Fraught With Confusion, Frustration
January 11, 2017 | Other, Insurance Claims
The process of obtaining a fair property insurance claim settlement appears to be very straightforward. You file your claim and then the insurer acts in good faith to provide the compensation you deserve. Unfortunately, obtaining a fair settlement is not always easy and can be incredibly frustrating.
One Main Priority
Insurance companies are like any other for-profit business in that their primary goal is make a profit. The more premiums they take in – and the fewer claims they pay out – the more profit they make.
But when home or business owners see their property damaged or destroyed due to a hurricane, the last thing they’re thinking about is the exclusions that may be buried deep within their policy contracts. They’re also not considering how the insurance company will interpret the language in that policy. Their concern is how the insurer will help them get back to normal and be made whole as quickly as possible.
Many policyholders do not completely understand their coverage, their responsibilities under their policy, or how to navigate the claims process. Also, some companies write their contracts in a manner that will make it appear to customers that all their losses are covered, when, in fact, carefully crafted language Courts have interpreted to limit coverage has been used.
It’s that very confusion that many insurance carriers count on when it comes to either underpaying claims or flat-out denying them.
If you feel that you might as well be reading a foreign language when trying to decipher your insurance policy, you’re not alone.
Getting Help for a Dispute Involving a Property Claim Settlement
Many businesses and individuals trying to pick up the pieces after the devastation of Hurricane Matthew are being treated unfairly by insurers. If this applies to you and you’re having trouble with your property claim, the attorneys with Baron & Budd and Childress Loucks & Plunkett may be able to help. Click here to contact us online or call 866-723-1890 to learn more.