Five Reasons Your Property Damage Claim May Be Denied
Your property can become damaged due to another person’s negligence, accidents, and natural disasters such as fires, floods, and hurricanes. As a responsible homeowner, you have purchased insurance for such events and you expect coverage to be available when you need it. Unfortunately, that is not always the case. Insurance companies regularly deny claims, whether they have good reason to or not. Below, our Daytona Beach residential property damage lawyer explains the five most common reasons insurers deny these claims.
You Did Not File the Claim On Time
Under Chapter 95 of the Florida Statutes, you must file your property damage claim within four years of the time the damage occurred. This statute of limitations applies to most types of property damage, including damage from vandalism and theft. Four years may sound like a long time, but the insurance company will need to conduct an investigation, and there are many steps you must take before filing your claim. If you do not file your claim on time, you will be barred from receiving any coverage at all.
Additionally, most insurance policies require you to inform your insurer right away of any damage, even if you do not file your claim at that time. If you do not do this your insurer may not only deny your claim, but cancel your policy, as well.
You Have Not Paid Monthly Premiums
The insurance premium is the amount you pay to the insurance company every month. If you have not made these payments, the insurer will deny your claim. For this reason, it is critical that you pay your insurance premiums every month so coverage is available when you need it.
Improperly Documented Damages
You must provide proper documentation to the insurance company to show the total amount of damage that occurred. This evidence will largely consist of photos and video footage of the damage, and quotes for repairing or replacing the damage. After any damage occurs, always collect sufficient evidence and speak to a lawyer about what types to collect.
The Damage Does Not Exceed the Deductible
The deductible is the amount you must pay before the insurer provides any coverage at all. Many homeowners choose a higher deductible, because it lowers the amount of the monthly premiums they have to pay. If the damage does not exceed the deductible, you will have to pay for any repairs.
Policy Restrictions
It is critical that you read through your insurance policy and understand what you are covered for. The insurance company may claim that you are not covered for the damage, regardless of whether that is true or not. In some cases, your policy may have actual restrictions that prohibit you from obtaining full coverage.
Our Residential Property Damage Lawyer in Daytona Beach Can Help After a Denial
If your insurance company has denied your property damage claim, it is critical that you obtain sound legal advice. At Bundza & Rodriguez, our Daytona Beach residential property damage lawyer can review your policy and the reason for denial to determine if you are eligible for coverage and help you recover the fair amount you deserve. Call or text us now at 386-252-5170 or chat with us online to request a free consultation.
Source:
leg.state.fl.us/statutes/index.cfm/index.cfm?App_mode=Display_Statute&URL=0000-0099/0095/0095.html
