Common Home Insurance Claim Mistakes

Texas's typical homeowner pays an estimated home insurance fee of $3,429 but only files a claim once every nine years. That is $30,861 over that time in premiums!

You have a deal with the insurance company as a policyholder. As a policyholder, it is your statutory privilege to file a claim to get paid in full for your loss anytime you suffer genuine harm to your land. In the first case, after all, it is what you have insurance for.

Yet way too frequently, failures in filing a petition are created by homeowners - errors that cost them thousands of dollars unnecessarily.

We hope this guide can help you prevent the six most popular errors made during an insurance settlement that we see homeowners make.

Mistake #1 - Filing a Claim Will Not Raise Your Rates

Many persons have insurance plans that cover themselves when anything goes wrong, but they're terrified to use them when something happens!

Which, at first, seems mad. You've got insurance there. Everything has gone badly. Why not make use of it?

The concern is that premiums will go up by having a petition, or you will be canceled. That is possible if you submit a high-risk allegation (e.g., dog bite) or if you have so many lawsuits about accidents that are within your influence (e.g., flooding bathtub), but not for incidents such as a roof insurance claim that arise spontaneously.

The sum of allegations submitted by all homeowners in your neighborhood is a principal driver of your insurance expense. So if a windstorm rolls in and all your neighbors have a new roof, the insurers view your place as a possibility, and whether you file a claim directly or not, your rates are likely to rise.

Conclusion: Apprehension of higher premiums or non-renewal does not prohibit you from filing a claim after an occurrence involving an "Act of God." If you have concerns about whether you should file a claim, please contact an experienced home insurance attorney.

Mistake #2 - Filing a Claim Without Help

The homeowner's policy is for severe incidents such as a flood, hail or wind storm, or a falling tree on your house, not for small expenses such as a bicycle robbery or a single broken glass. So, although an argument might be legitimate, the filing of it might not always be prudent.

Have a peek at the policy you have. Some have a deductible of 1 percent to 2 percent. To make things worth filing the claim, the claim's value has to be far higher than the deductible.

But how do you decide if there is enough harm for you to bring a claim?

You can see: Begin by looking around your house.

• Dents in shingles, roof jacks, or spouts for the gutters/down? (see the picture).
• Siding or fascia boards with dents/holes, or chipped paint?
• Damaged coil from an air conditioner
• In the skylights, walls, or bases, holes
• Check for holes on skylights.
• Look for dents on roof vents.
• Look for gutter dents.
• Siding hail damage
• Window hail damage
• Fence hail damage
• Air conditioner hail harm
• Air conditioner hail damage

Contact an experienced home insurance lawyer for a free case analysis if you do not see any harm, are not sure what you are searching for, or do not want to get on your roof. An estimator or inspector may also be hired (not a Public Adjuster-See Mistake #5).

If you get several advertisements from roofers and the roofs are installed on your neighbors, odds are you have enough harm to move ahead and a report.

Conclusion: Don't submit a minimal injury lawsuit, so if a significant storm has happened and there is proof of damage, go ahead and file a claim, but be vigilant if you don't do it yourself to file your claim.

Mistake #3: Recruiting a Storm Chaser.

Large-scale hurricanes with extensive destruction are drawing contractors who realize that respectable firms are exhausted. That is when these vultures turn up, making promises and spreading lies at your gates.

Storm chasers do as their name implies, tracking hurricanes from region to region, hawking their roofing facilities. Although individual businesses are legal and can do outstanding work if you have a concern later, how receptive can out-of-town roofers be? On business cards, vehicle logos, and website, look for a nearby phone number and address.

There are plenty of these storm chasers unscrupulous—preying with deceptive promotional strategies and inflated charges on the older individual or uninformed. Some ask for cash upfront and vanish, while others hope to have insurers accept produce false harm. Only keep away from these industries!

Until signing a deal, be sure to search out every contractor. For grievances, check with the Better Business Bureau. Ask for ideas for chat rooms in the group or via social networking. Verify the sources. On Google and Yelp, glance at user feedback.

Conclusion: Consider their ranking in the BBB before employing every contractor, read the contract closely, and not offer cash upfront to keep yourself out of trouble.

Mistake # 4 - Understanding Your Deductible

The most popular error homeowners commit, sometimes without understanding the implications, is not understanding their deductible. The deductible is the sum of money you are liable for spending until your insurance provider covers you for an insured loss is an insurance deductible for homeowners. The net amount of injury or failure minus the allowance is the subsequent claim payout you earn from the insurance provider. That ensures that if your deductible is $1,000 and your home holds $50,000 in a covered loss, once you pay your penalty, the insurance company can compensate you $49,000.

The sum you spend in insurance rates for homeowners, a regular or yearly insurance payment, is directly linked to how big or low you set the deductible because you calculate a lot of factors as you place your deductible. Understand how much you can expect to pay in insurance costs and how much you can afford to pay out of pocket whenever anything terrible occurs. A large-deductible offers you a cheaper insurance rate, but when it is time to make a lawsuit, it may still prove to be too much of a blow to your bank account.

Conclusion: Understand your deductible and what it represents.

Mistake #5 - Hiring Ill Experienced Public Adjusters

Just one claim every decade is submitted by the typical homeowner, so inexperience with the procedure is natural. So it may be enticing, with such a significant decision on the table, to allow a public adjuster to file an insurance claim on your behalf. If you do retain a public adjuster, please make sure they are qualified to assist you.

Not all public adjusters are highly qualified and willing to offer detailed evidence to validate an argument and follow through before a determination is taken. Some public adjusters do not do anything to increase your insurance chance from acceptance of the claim.

If the application is allowed, you will owe around ten percent of the claim to the public adjuster. If refused, even though they were unable to have the demand charged, you also owe the public adjuster after hiring an attorney. Public adjusters cannot offer legal counsel about how to proceed; what they can do is refer you to a lawyer.

Conclusion: By creating the claim for you, public adjusters can save you some time, and they take up ten percent of your request. Although helpful, we always advise consumers to get advice from a specialist home insurance lawyer.

Mistake #6 - Accepting a Denial

Homeowner's Insurance is a $95 billion company, with little than half paid out to cover claims annually. Many insurance providers routinely reject or underpay claims that could usually be charged, with too much money at risk.

Since why? To put it plainly, GREED.

Insurers recognize that only about 20% of allegations that have been rejected can be contested. And if any contested demands are finally charged, with further legal costs, they also come away with millions of dollars ahead. Therefore, amid all the talk of "being in safe hands," insurance is a corporate company, and at your cost, they are out to gain.

A refusal or underpayment is not deliberate often, and it is not definitive. You are paying your premiums because you deserve to be compensated if you have a valid argument!

If in writing you obtain a rejection, start raising questions. Maybe, during the process, an error was made. For the wrong excuse, or because of incorrect facts, the refusal may have been made, so be persistent.

Conclusion: Look for professional aid if you somehow don't get the proceeds you receive. Following the policy and experienced counsel can help get you charged what you earn, usually without any out-of-pocket expenses. Be sure you employ a provider that is specialized in managing insurance cases that are rejected. Through consulting with the State Bar of Texas and solicitor ratings and recommendations at www.avvo.com, conduct your due diligence.

We trust that you have considered this guide to be useful. On our website and forum, additional helpful tools are found. Schedule a consultation with Eric Dick, our expert in insurance cases, or contact him at 833-7RIGHTS if you have concerns.

YOU CAN OBTAIN A HIGHLY SKILLED INSURANCE LAWYER

If your insurance company has refused to honor your policy despite having a valid claim, you can recover damages based on "bad faith." At Dick Law Firm, PLLC, we are committed to fighting for the total compensation you deserve. When you retain our services, we fight to protect your rights as a policyholder.

Hiring a highly-skilled property insurance attorney will help by:

• Significantly increases the value of your claim
• Learning all of the ins and outs of your policy
• Helping you navigate the claims process and negotiations
• Validating the cause and extent of the damage
• Informing you if a claim denial is valid
• Notifying you of all relevant insurance laws

If you have been mistreated or wronged by your insurance company, you can count on us to do everything possible to rectify the situation. We aim to resolve a claim as efficiently and effectively as possible.

Please speak with our team at 833-7RIGHTS today! Consultations are FREE.