Severe damage to your house or company might put your life on hold. It can leave you homeless or jobless for a long time. There is also a likelihood that your insurance company might be refusing to pay out or possibly search for legible means to avoid. How then should you file a claim for property damage?
Here we are talking with David Furtado, licensed in Colorado, California, Alabama, and Massachusetts. Mr. Furtado has more than 30 years experience helping people to fight against insurance companies.
Filing a claim for property damage can be a real hassle. Contact a property damage lawyer when you are having trouble claiming damages from a negligent party or the insurance company damages or doubt that your insurance company acts in a bad faith.
One of the first things to do after evaluating your property damages is to notify your insurance company. According to Furtado, failure to notify your insurance company about property damage timely can reduce your chances of reclaiming all of your losses. Even if the formal claim is submitted later, your insurance policy would certainly require that you report a potential damage claim promptly.
Furtado suggests that claimants are to keep a record of all damaged properties such as buildings, valuables, and other properties with monetary worth, to ensure compliance with your insurance policy. Any significant changes in the worth of your property or your valuables should be recorded in the most current policy available. It is very important for yacht insurance claims too.
Claimants should remember that all insurance claims are ultimately corporate transactions when dealing with the insurance company. There will be a claims adjuster who is looking out for the insurance company’s profits.
Regardless, you have some rights as a property owner and policyholder.
Hiring an expert property damage lawyer can provide you with every legal benefit and increase your possibilities of getting your damages compensated.
Check the terms for property damage claim in your insurance policy
Your insurance policy’s terms will specify what damage is and is not covered. Endeavor to study your insurance policy contract, or have your lawyer do so.
Damages caused by the following factors are frequently protected:
- Fallen tree
- Mold infestation
- Motorcycle accident
Although these are all covered, there are usually specifics in your policy that may prevent your insurance provider from settling damage claims. Read your insurance policy to be aware of these specifics.
For example, if a tree falls on your property but does not destroy any buildings or valuables, you may have to handle its removal by yourself. If it falls on your car, you’ll most likely have to consult your auto insurance company.
Water damages, such as burst pipes or rain damage, are frequently covered. Clogged sewers and flooding might not be compensated as water damage.
Furtado added that the insurance policies for those in flood-prone or earthquake-prone locations frequently exclude these damages from coverage. Supplemental insurance is a smart idea in this situation.
Things to avoid when dealing with property owners insurance company
- Avoid losing inventory of your personal belongings, the value of your home, and any damages. Ensure you keep track of valuables as a wise way to be prepared for the worst situations.
- Do not commence any repairs of damaged properties if you have not informed your insurance provider and received approval. According to David Furtado you must reach an agreement on essential repairs and expenses so that you can reclaim financial losses for any repair.
- Make sure you do not hesitate to obtain all your written insurance contracts. If you neglect this, there may be a problem of laying a claim in the future. Having all your insurance contracts written also keeps communication open between you and the insurer.
- Nothing should be discarded. Damaged objects may later become useless, but should be preserved as evidence for property damage. They might aid the claims process. Document all receipts for home purchases, upgrades, and repairs.
- Accept the initial offer only if you are satisfied that its full compensation for the damage. You need a professional property damage lawyer to assist you in securing the optimum payout possible.
Furtado Law PC was awarded the highest judgment in a first-party property damage case caused by hail to a structure in Colorado. Fortado Law’s lawyers convincingly persuaded the jury that the insurer violated its contract with the client by arbitrarily withholding and refusing the policyholder’s insurance coverage.
It may be worthwhile to hire the services of a reputable legal firm with extensive expertise in property damage.
Furtado Law PC can help you bounce back after suffering property damage on your house or business. No matter the type of damage, they can help you deal with the insurance company when their tough strategies to avoid payout arise.