Insurance companies in Florida and other states are prone to make mistakes or intentional acts that can cost their customers large amounts of money. One of the more common mistakes is when an insurance claim is never paid out entirely after an offer, or if the company simply makes a very low offer that is much less than the claimant needs to make proper repairs. These kinds of problems are usually referred to as underpaid insurance claims and insurance claim denials. Some people may assume that they have to just take whatever the insurance company offers and try to use the funds in the best way possible. This can result in significant financial problems such as debt and unpaid bills for other expenses. However, insurance companies are required to follow certain rules, and there are various forms of legal assistance available. Underpaid insurance claims lawyers can provide additional advice to those who have had issues with their insurance provider.
Here is a summary of some of the issues with underpaid insurance claims that may affect a policyholder and the ways that Florida underpaid insurance claims attorneys provide crucial assistance.
In order to avoid problems such as an underpaid claim, the person making the claim should make an effort to follow all of the relevant rules, contact their insurance provider in a timely manner, and file their claim properly. If the insurance company requests evidence of the damage, additional documentation, or any other pieces of information, these should be provided as soon as possible to avoid delays in claim processing. Excessive delays increase the likelihood that a claim will not be paid out properly.
However, even when the person filing the claim is very careful to follow all of these steps, there is no guarantee that the insurance provider will not make mistakes or engage in various dishonest practices.
An insurance adjuster is involved in many claims, as this person is responsible for reviewing and verifying any damage that is related to the claim that was submitted. While this is supposed to provide the claimant with a reasonable amount of compensation, there can be serious problems if an adjuster concludes that the value of the damage is much less than the property owner needs. In fact, it is a regular occurrence for an insurance adjuster to submit an initial estimate that is far less than the property owner expects, even when factoring in their out of pocket costs for a deductible. Underpaid insurance claim lawyers in Florida may need to review the adjuster’s actions and other information related to the claim to get the insurance company to pay out the proper amount of money.
Many underpaid insurance claims happen due to the insurance company’s business interests. An insurance company is certainly not a charity, and they will take steps to save money that include offering very low amounts to settle a claim or denying a claim entirely. If the company can underpay hundreds of thousands of claims after a significant event such as a hurricane, this can represent a very large amount of savings for the business.
Another significant cause of underpaid insurance claims in Florida is administrative error. Insurance companies may process large volumes of claims at once, especially if there was a natural disaster or other event that affected many people at once. This creates the potential for things like human error while processing and reviewing claims, documents getting lost in the mail or by the insurance provider, or a claim being partially paid but the rest of the money never gets to the claimant. There are other situations where mistakes by the claimant can also result in them not receiving the money or bothering to claim or cash a check that is theirs. Review by underpaid insurance attorneys can be one of the only ways to discover these kinds of mistakes and have them corrected so that the claimant can receive the correct amount of funds.
There is an appeal process in place that can be used to try to get a claimant additional funds or have another independent adjuster review the situation. However, these appeals for underpaid claims are not a perfect solution. It is possible that the insurance provider will not make any changes even after receiving a legitimate appeal. The services of underpaid insurance lawyers are often much more effective than simply submitting an appeal to the insurance company.
Once a low offer has been made, the property owner should try to get advice from Florida underpaid insurance claims attorneys as soon as possible. They may need to review all aspects of the claim, the language of the active policy, and also review the situation for bad faith where the insurance company has denied or seriously underpaid a legitimate claim. Lawyers who work in this field have experience getting results for their clients, even when the insurance company does not seem to be responsive or helpful.
Settlement negotiations are also important for underpaid insurance lawyers. Many cases related to accidents and insurance claims end with a settlement rather than a trial because of concerns of efficiency and lost money spent on additional legal fees and trial preparation. Those who have made an insurance claim and received a settlement offer should always review the offer with their attorney before accepting. In many cases, there can be negotiations to get a larger amount than what was initially offered in the underpaid claim. However, once a settlement is accepted, this represents the end of all related legal action.
Madalon Law is a firm that can handle various insurance issues for clients who have had problems receiving payment for property damage. Their Florida underpaid insurance claims lawyers can assist with the process to review a claim and the insurance provider’s actions. Anyone who needs more detailed information about their underpaid or denied insurance claim can contact the firm to schedule a meeting.
Most people are not aware of how the law works, the rights they have and the amount of compensation they can be entitled to after they have been injured in an accident that was the result of another party’s negligence. The obstacles and confusion that follow an accident and an injury can seem overwhelming.