In case of unexpected circumstances or emergencies, millions of businesses and homes pay property damage insurance monthly. If any disaster happens, such as a flood or theft, the resulting damages are covered by the property insurance. However, for a regular policyholder, the process involved in the insurance claim could be overwhelming and tedious. You may need to deal with some issues like having your damages undervalued by an adjuster.
In this article, you will be furnished with useful information from Mr. David Furtado, a licensed lawyer at Furtado Law PC, a law outfit that provides property damage litigation services globally. Furtado helps you to resolve undervalued property damage claims, bad faith insurance practices, and fight claim denials. They represent policyholders in their claims made to world insurance giants and that is a great step in the industry. Additionally, they shape the ways insurance carriers handle claims made by clients.
Keeping Records of your Claim Value
Having a vivid understanding of the worth of your damages is a great way to kickstart a property damage claim. Do not rely on the assessment of the insurance company. Rather, consult a professional to evaluate your damages. Depending on the property involved, you can consult either a mechanic or a real estate appraiser. An unbiased professional inspection by a third party will help you achieve the exact assessment results of your losses. Such exposure to expertly sourced information will assure you of whether the insurance company has undervalued your property damages.
Understand the Policy
Be abreast with your property insurance policy and know your coverage by reading it carefully and thoroughly. Study your policy and read the fine print or take it to Furtado for a better review if you are in doubt. You must know your insurance policy well so that you can enhance your negotiating skills with the adjuster. It will help you to be aware of the claims adjuster is treating you unjustly or breaching your contract. They may offer you the maximum limit of the amount your policy permits while it may not be enough to cover your losses.
Negotiate the Small Offer
Furtado has discovered that most insurance companies undervalue their clients’ damages to increase their profits and lower financial liability. That has been a regular habit displayed by many insurance firms nowadays. They offer quite low amounts compared with the actual worth of your damages. They do that to save money for themselves intentionally, or it could be an oversight on their part. Insurance adjusters usually have several cases to attend to daily and may not be adequately informed about your claim. They may have omitted some details during your property inspection or document review. It may also be that they have wrongfully read your policy.
Furtado recommends that you disapprove of your undervalued claim as a means of protecting your interest. Whether the insurance company is trying to cheat you intentionally or not, you can always contest their offer. Do that by presenting the evidence or documented report obtained from the third party evaluation of your property. Having proof can aid you in requesting a complete value of your claim from the insurance adjuster. Tender any extra photos of the damaged property, repair estimates, or statements from witnesses. To ensure transparency, Furtado suggests that you request a re-evaluation by the insurance company.
Employ an Insurance Dispute Attorney
You may have no choice but to hire a lawyer if the insurance company isn’t going to come up with a better offer. To obtain a favorable outcome during settlement and negotiations, Furtado Law can represent you against any insurance adjuster. As professionals in their field, they will enter into negotiations with the insurance firm to make sure you achieve total and favorable compensation for your losses. Employing the services of an attorney can help you receive the actual worth of your damages. They are sure to resolve the property damage insurance claim that may exist.
Furtado Law can initiate a bad faith insurance lawsuit if we discover that the claim adjuster is handling your case unjustly or partially. An additional payment of interest rates can come up as compensation for a bad-faith lawsuit. There can also be penalties leveled against the insurance company due to such a lawsuit. Failure to treat your property damage claim lawfully can lead the company to be held accountable. Furtado Law advises you to hire a lawyer from the onset of your damage claim because it will help provide you with the adequate support you need.