Residential Insurance Claims
Your home is your most important asset and your most significant investment, and you do all you can to protect it, including buying insurance to protect your home in case it is damaged or lost to fire, flood, or some other disaster. Unfortunately, many homeowners find themselves facing a second disaster when their insurance claim is unfairly denied, unreasonably delayed or grossly underpaid. At Velasquez & Associates, we focus a large portion of our practice on helping Miami homeowners take on their insurance company and make sure they get the full measure of benefits on their property damage insurance claim. Call our office for a free consultation with an experienced and successful attorney, and let us help you get the benefits you need and deserve.
What insurance coverage should I have?
Insurance is intended to cover you in case of loss and make you whole again by repairing or replacing lost or damaged property. As a homeowner, you will want homeowner’s insurance sufficient to cover the cost should you ever have to rebuild your home and replace your belongings. You’ll also need money for living expenses while your home is being rebuilt or you are finding a new place to live. If you don’t have sufficient savings to cover that transition, purchasing enough homeowner’s insurance to cover the cost can be a lifesaver.
Homeowners insurance is often required by the lender when you purchase a home. Typically, they’ll require an HO-3 all risks, open perils policy. This policy covers your real and personal property and covers all types of property damage claims that are not specifically excluded in the policy. You may want to purchase flood insurance or hurricane insurance as well. If you need to make a claim, be sure and speak with a lawyer who is well-versed in the type of policy you are making the claim on.
How do insurance companies deny claims or limit benefits?
There are many different ways insurance companies may find to deny a residential property damage claim. Sometimes the insurance company acts unreasonably, and their motives are seen as a bad-faith attempt to deny coverage or underpay your claim solely to save money at your expense. Other times they are just plain wrong about the reason they give for denying a claim or limiting your benefits. Here are some of the most common reasons why property damage claims are denied on residential policies.
- They say the claim is not covered by your policy
- They say the claim is based on pre-existing damage
- They allege you made a fraudulent claim
- They accuse you of not keeping up with premium payments
If your claim is denied, Miami property damage insurance claims attorney Juan Velasquez will determine whether you have been treated unfairly and will fight to get your claim approved. Other unfair actions the insurance company may take other than denying a claim include:
- Offering an unreasonably low settlement below the amount needed to cover your loss
- Lack of response to your claim or inquiries
- Failing to investigate your claim
- Rescinding your policy to avoid paying a valid claim
Do I need insurance as a condo owner or renter?
Yes. The property owner or landlord’s policy only covers the structure itself. You’ll need coverage for your own personal belongings, furniture and appliances, etc. Besides total loss in a fire or other disaster, water damage and mold are ever-present threats in many apartment units due to leaky pipes in the walls from overhead or adjacent units.
If you are renting, consider purchasing enough condo or renter’s insurance to cover all of your belongings. Take the time to add everything up and make sure you get enough insurance. You’ll find you can likely afford to increase your premium to get the coverage you need, and you don’t want to find yourself without enough insurance should you ever need it.
Help with Residential Insurance Claims in Miami
If your Miami residential insurance claim was denied or you need help filing your claim and dealing with the insurance company, call Velasquez & Associates for a free consultation at 786-776-0130. We’ll fight to get you your benefits, and we’ll only charge a fee if we are successful in recovering compensation for you.