Property Insurance Disputes
Insurance is a fact of modern day life. We buy insurance policies to protect ourselves and our loved ones in the event of unexpected loss and damage. The theory of insurance is wonderful - if an unexpected loss or damages occur, the insurance company promises to cover our loss and makes us whole again. For this promise the insurance company makes, we pay them insurance premiums regularly to ensure they are there when we need them. We insure our cars, our homes, our businesses, our lives, our possessions, our health, even our pets sometimes. And we believe that if a loss occurs, just like in the TV commercials, our insurance company - our trusted friend, our good neighbor, the folks with good hands - will be there for us in our time of need.
Insurance As A Business
The problem with the idea of insurance and insurance companies is that insurance is a business. And like any other business, insurance companies are in the business of making money. Their business model is simple: Insurance companies make money when they collect more dollars in insurance premiums than they pay out in insurance claims. When it comes time to collecting money and writing insurance, most insurance companies are wonderful, seem trusting, and leave you with a generally warm and fuzzy feeling. And so long as you don’t file a claim, your insurance company will continue to love you and leave you with that warm fuzzy feeling.
But what if a loss occurs? What happens if you need to file a claim?
Not Keeping Their Promises
If the unexpected happens and we need to file an insurance claim, watch what happens. Insurance companies don’t like to pay claims. Why? Because that’s not how they make money! Insurance companies have special departments set up to deal with claims - often called claims departments. No longer will you deal with your friendly insurance agent, after filing a claim you’ll be assigned to a “claims adjuster” or “claims manager.” Sometimes the claims adjuster is an employee of your insurance company, and other times he or she might be an independent adjuster.
Watch Out For Quick Settlements
Sometimes insurance companies are quick to offer money, in exchange for you agreeing to sign a release or waive future damage claims. Be careful! A quick settlement offer might be a sign that the insurance company is underestimating your claim - remember the adage “don’t accept a first offer?” Perhaps the insurance company is trying to get off cheap; maybe the insurance company didn’t do a full and complete investigation or a proper evaluation of your claim.
Never accept a check that indicates that the payments are a full and final settlement, and never sign a release! By cashing a “full and final” check, or signing a release, you may hurt your chances of recovering additional monies.
Paid Too Little Or Denied
Insurance companies may “low ball” their estimates, or even deny legitimate claims outright. Insurance companies know that if they deny or low ball 10 claims, chances are 8 of those 10 people will never do anything about it, never talk to a lawyer, and never fight back. And the 2 people who do talk to a lawyer and fight back, even if the insurance company has to later pay those 2 people in full, the insurance company is laughing all the way to the bank because it saved money by not paying out on the other 8 people!
If you have been denied by your insurance company, or you don’t believe your insurance company is treating you fairly, you may have options and rights. Learn about your rights for FREE by talking to the experienced property insurance attorneys at the Byrne Law Group.
Experienced Property Insurance Attorneys
The Byrne Law Group is experienced at dealing with property insurance claims! Attorney John Byrne has litigated hundreds of property insurance disputes. We represent both residential and commercial property owners with a variety of problems, ranging from hurricane claims, to water damage, to sinkholes.
We often are paid on a contingency fee basis - which means, the Byrne Law Group is only paid if we recover money for our clients. Our clients never pay us attorney fees out of pocket. To learn more about our services, or if you have questions concerning your situation, call for a FREE consultation at 813-413-6565.
The insurance companies have experienced professionals working to protect them. Make sure you have experience on your side too. Call the Byrne Law Group today, or complete the form.