With year-round sunshine, warm temperatures, and breathtaking views of the Atlantic Ocean, Miami is one of the most beautiful places to live in the entire United States. It is also one of the most expensive, and potentially risky, places to own property. In Miami, the threat of damage to property is very real because the same features that make it such a desirable location to live also increase the likelihood of serious damage to property from severe weather.
If you are a Miami property owner, you undoubtedly spend a significant amount of money each year paying for insurance to protect your investment, and, if your property is damaged by a covered peril, you expect your insurance company to act in good faith and pay the repair or replacement cost for your damaged property, less any deductible. After all, that’s why you have been paying your premiums on time for all these years, right?
Unfortunately, that isn’t always what happens. Insurance companies may deny your claim outright, asserting that the type of damage isn’t covered. If the loss is covered, they may delay processing and paying a claim, often requesting redundant information about the property damage and necessary repairs, without any apparent explanation. They may also significantly underpay a claim, leaving you insufficient funds to make the necessary repairs on your property and/or replace unsalvageable items.
At Malik Law, we understand how damage to your property can disrupt your entire life, and we know how frustrating and disheartening dealing with insurance companies can be. As experienced insurance claim attorneys, we are committed to helping property owners navigate the complex insurance claim process. Whether you’re facing submitting a complicated claim, waiting for payment on a submitted claim, or disputing a denied or underpaid claim, our experienced Florida insurance claim attorneys can help.
Common Florida Homeowners’ Insurance Claim Problems
The concept behind property insurance is fairly straightforward. The policyholder pays a premium every month (or yearly), which insures their property against a variety of types of potential losses, such as a loss caused by theft, fire, vandalism, or natural disaster. The coverage limits, deductibles, and exclusions may vary, depending on the type of property covered; however, the general concept remains the same.
When property owners actually suffer a loss, they file a claim with their insurance provider. An adjuster then determines the cause and extent of the damage, which should lead to a determination of the value of the claim. Shortly thereafter, the insured should receive a check intended to cover the cost of repairing or replacing the damaged property.
Unfortunately, it is rarely this simple. In reality, a number of things can go wrong in the insurance claim process, including:
- Uncovered loss — Let’s face it, no one actually sits down and reads through their entire insurance policy. Instead, they count on the agent to explain the highlights. When it comes time to file a claim, however, this can lead to outright denial because the type of loss suffered is not covered. Flood damage is a common example. Many homeowners’ policies do not cover damage caused by a flood. To be protected, a separate flood insurance policy must be purchased. A denial of coverage is rarely that simple, though. For example, what if the water inside the home caused mold damage, which may be a covered loss? You may need help from an experienced Florida insurance claim attorney to challenge your insurance company’s denial.
- Delay in processing — Because every claim is unique, it is impossible to set a time frame within which all claims should be processed; however, when processing appears to drag on for weeks or months without any explanation for the delay, it may be time to take action. At a bare minimum, the insurance adjuster should be able to explain where your claim is in the process and what steps remain before the claim can be approved. If you believe a processing delay has become unreasonable, it may be time to consult with an insurance claim attorney.
- Undervalued claim — When property is damaged by a covered peril, insurance policyholders expect to be fully compensated for the loss suffered so they can repair or replace their damaged property. Sometimes, however, their insurance company undervalues their loss, leaving them without sufficient funds to adequately repair the damage. What many property owners don’t know is that accepting their insurance company’s initial offer is not the only option. An experienced Florida insurance claim attorney can challenge the adjuster’s figures and aggressively negotiate a higher payout.
Get Help from Experienced Miami Insurance Claim Attorneys
If you have concerns about your policy or problems with your insurance company, please contact the experienced Miami insurance claim attorneys at Malik Law. We understand how insurance companies, insurance policies, and the law work and are committed to fighting for your rights.
Call us at 407-500-1000 or submit our online form today. One of our experienced Florida insurance claim attorneys will explain your rights to you and discuss your legal options at no cost.
We have helped our clients recover millions in property insurance, personal injury, and commercial litigation matters and want to help you collect the maximum amount possible to repair your home and replace damaged items.