Every year, millions of homeowners pay their homeowner’s insurance premiums, hoping that they will never have to file a claim. Unfortunately, for many, the unexpected happens, and their business or home experiences physical damage or suffers some other kind of loss. When filing a claim with the insurance company becomes unavoidable, some policyholders will opt to handle the insurance claim on their own, while others will turn to experts and professionals to help them get the most money owed to them under their policy. If you’re not sure what the best option is for you, this article dives deeper into how a professional can help you through the claims process.
Benefits of Hiring an Experienced Property Insurance Attorney to Help with Your Insurance Claim
While some policyholders may be able to independently negotiate a settlement with the insurance company for their claim, we never recommend handling an insurance claim on your own. Here are a few simple ways that having an experienced homeowner’s insurance attorney can greatly benefit you:
- Experience – Hiring an experienced property insurance attorney will bring a tremendous amount of previous experience to the table. Most homeowners have never dealt with a property damage claim on their own, but having an attorney who handles these claims every day will allow you to make the most informed decision for you and your loved ones.
- Knowledge – If you’ve ever read an insurance policy, you know they are full of technicalities. Having an experienced homeowner’s insurance attorney by your side can help ensure you know what’s required of you following a loss and can also ensure that you receive the rightful compensation under your policy if the insurance company tries to shortchange you.
- Reducing Stress – Dealing with any insurance company is a headache. Fortunately, hiring an experienced property damage insurance attorney will take a lot of the heavy lifting and communications with the insurance company off your plate while making sure that everything for the claim is being efficiently and correctly handled.
- Expectations – Having an experienced property insurance attorney can help you navigate what is and isn’t covered under your policy to make sure you receive the maximum compensation you’re owed. Knowing what you can expect can help policyholders make important decisions instead of waiting around for an insurance company to respond.
- Negotiations – When an insurance company sends an adjuster out to your home or business, they send a licensed professional to inspect your property. Negotiating with these individuals can be intimidating and uncomfortable for policyholders, but hiring an experienced homeowner’s insurance attorney will allow for a more even playing field regarding negotiations and policy and/or legal arguments.
The Dangers of Navigating a Homeowner’s Insurance Claim or Commercial Property Damage Claim on Your Own
If you’ve just recently filed a property insurance claim for damages that occurred to your home or business, you may be realizing that suddenly, the process is a lot more complicated than insurance companies make it seem. There are a few reasons why we strongly advise against handling a property damage claim entirely on your own:
- Undervaluation – Simply put, insurance companies are businesses, and businesses have to stay profitable. To stay profitable, insurance companies may or may not undervalue properly documented claims. Unfortunately, many policyholders navigating the process without an experienced attorney may not even realize their claim is being so severely undervalued.
- Deadlines – Hidden within all of the language in your typical homeowner’s insurance policies is a provision that’s typically called “Duties After Loss” or something to that effect, depending on the policy. Provisions such as these outline deadlines and other requirements that could potentially bar or otherwise exclude coverage. If a policyholder isn’t well-versed in the requirements under their policy, they could potentially unknowingly jeopardize the entire claim.
- Deadlines – Hidden within all of the language in your typical homeowner’s insurance policies is a provision that’s typically called “Duties After Loss” or something to that effect, depending on the policy. Provisions such as these outline deadlines and other requirements that could potentially bar or otherwise exclude coverage. If a policyholder isn’t well-versed in the requirements under their policy, they could potentially unknowingly jeopardize the entire claim.
- Mistakes – Whether it be on the insurance company’s side or on the policyholder’s side, mistakes happen. Hiring an experienced property insurance attorney can help you make sure that things are being handled the right way on your end and make sure that the insurance company is being held accountable if it’s not being handled correctly on their end.
- Delays – Insurance companies will often delay a claim in the hopes that the policyholder will forget to follow through with it or to encourage the policyholder to accept less than the claim is actually worth. Having an attorney by your side guarantees that these low-balling efforts will not happen.
Summary
At the end of the day, as the policyholder, you have the option to do what is best for you. If it’s navigating the treacherous waters of an insurance claim on your own, we hope that this article helps you keep an eye out for some of the big issues we foresee. However, just because you could navigate something on your own doesn’t mean you should, and it doesn’t mean you have to. We always recommend consulting with an experienced homeowner’s insurance attorney or commercial property insurance attorney if your insurance company is denying, undervaluing, or otherwise delaying your claim. Legal Grit’s experienced attorneys are here to help you navigate the complicated claim process. Give us a call today at 561-331-4476 for a Free Case Consultation!