Florida has not had a direct hurricane
hit for several years, yet homeowner insurance premiums have risen drastically.
Part of this is due to the insurance industry assigning risk in new ways. Additionally,
sinkhole claims are higher than they used to be, and insurance fraud has become
more commonpl
ace. Whatever the reason for soaring premiums, you should make
sure you do what you can to receive the coverage you are paying for.
Reasons for Claim Denial Sometimes
Unclear
Claim denial is sometimes based on
conditions that are very hard to understand. But with Fort Lauderdale water damage claims, you should be prepared for push-back from your insurer. Rules
for water damage claims are often laden with conditions, some of which make
sense and some of which are hard to understand.
Is an Appraisal the Best Response to a
Disputed Claim?
If you disagree with your insurer
about a water damage settlement, you have the right to an appraisal to attempt
to rectify the problem. However, if you choose appraisal, you lose your right
to sue your insurer for breach of contract. Work with a skilled Fort Lauderdal ecommercial public adjuster from the beginning and you can be confident that you
will get the best settlement possible.
Work Fast, but Work Smart
As soon as you suspect water damage,
explore the situation yourself or call a plumber. If a pipe bursts, or some
other water emergency makes itself obvious, one of your first calls (after a
plumber) should be to a Fort Lauderdale commercial public adjuster. With water
damage claims, you may face strict time limits for reporting the problem, and
insurers usually eye water damage claims with the goal of minimizing payout or
denying claims.
Get the Coverage You Have Paid For
Getting the settlement you are
entitled to is not gaming the system, but simply getting the full coverage you
have been paying for. Insurance policies can be difficult to understand, and
insurers naturally want to make the minimum payout. These are both excellent
reasons to work with a South Florida commercial public adjuster whenever you
have a water damage claim.
While a South Florida public adjuster
can help you maximize success of your homeowners' insurance claim regardless of
who writes it, they advise Floridians to be wary of the "takeout"
offers those with Citizens Property Insurance Group are currently receiving.
These policyholders must opt out within 30 days or be automatically switched to
one of the "takeout" companies. Do your research, and brace yourself
for higher premiums.
Non-Catastrophic Claims Account for
Most Rate Hikes
Florida homeowners are paying around
twice as much for insurance than they did six years ago. Claims are up by
around 17% over the past ten years, and much of this is due to non-catastrophic
water damage claims and increasing claims from sinkhole losses. If you're
facing a homeowners' insurance claim, contact a Fort Lauderdale public adjuster
to help ensure you get the coverage you have paid for.
Know Your Coverage and Tax Relief
Options
If you have uninsured casualty losses,
speak with your tax advisor, because you may be eligible for some tax benefits.
But whether you've suffered losses or not it is important to understand your
coverage. Reading and understanding your policy isn't easy, but you should make
the effort. Knowing what you are and are not covered for can spare you from
unpleasant surprises if you should need to make a claim.
Be Careful of Assignment of Benefits
for Repairs
You're smart to work with a Fort
Lauderdale public insurance adjuster before signing any contracts for repair or
reconstruction. If a contract assigns insurance benefits without your name
being included on the check, be wary. Open ended contracts can extend your
financial obligation beyond what you get from an insurance settlement. A public
adjuster can help you understand settlements and reconstruction contracts.
What "Pre-Loss Condition"
Means in Florida
In Florida, your claim should put your
property back in "pre-loss condition." Just repairing the few damaged
shingles and giving your roof a patchwork look isn't sufficient. Insurers will
resist full replacement in cases like this, but you can prevail. A South
Florida public adjuster can help you get repairs that blend with the rest of
your home.
