Has The Insurance Company Offered You Far Less Than You Believe Is Required To Repair Your Property?
Insurance companies commonly underpay insurance losses for the following reasons:
- Failing to properly inspect and survey all the damage,
- Classifying damage as cosmetic when in fact it is functional in nature,
- Using inaccurate pricing when calculating the cost of repairs, and;
- Interpreting the policy in their favor.
What Can You Do If You Believe Your Property Insurance Claim Has Been Underpaid?
You can request the insurance company to reinspect the property and offer your own proof as to the value of the claim. Quite often, insurance companies will reject your valuation of the claim or your assessment of the cause of damage. They will often hire experts, such as Haag engineering, who will form opinions that are favorable to underpaying the claim or supporting the original adjuster’s position. At this point, you are left with two options. You can either accept the underpayment or you can hire professionals to help you fight the insurance company.
What Can You Do For My Underpaid Claim?
We can help you establish the proof you need to get your claim paid. Our property insurance attorneys have experience handling underpaid claims. We understand what proof and evidence is required to establish that the claim was wrongfully underpaid. If a claim is wrongfully underpaid, a policyholder could be entitled to the full value of the claim, attorneys fees, penalties as provided by state law, and in some instances treble damages. Treble damages are three times your economic damages. The State has penalties in place to encourge insurance companies to properly handle claims.
If you believe your insurance company has underpaid your claim, please contact a property insurance attorney immediately.