Tips When Negotiating A Property Damage Claim Settlement
If your home or business is damaged by a storm, accident, or natural disaster, you may need to negotiate a settlement with your insurance company. Making the decision to settle with your insurance company is not always easy. The insurer may try to settle for an amount that is much lower than what you need. In other cases, the insurance company may offer a settlement that is fair, but you feel as though you deserve more.
So, how do you negotiate a fair settlement and know that it will provide the full coverage you need? Our residential commercial property damage lawyer in Daytona Beach provides some tips below.
What is a Settlement in a Property Damage Claim?
A settlement in a property damage claim occurs when a home or business owner agrees to accept a certain amount of money from the insurance company to repair the property damage. It is critical to note that a settlement does not mean that you are accepting less than what you deserve. It only means you have reached an agreement with the insurer about the amount of coverage you need.
Insurance adjusters are required to investigate any occurrence of property damage before a specific deadline after any destruction or damage. This is typically the first contact you will have with the insurance company. At this time, the adjuster may offer a settlement. Before you accept it, you must carefully evaluate it to determine if it will fully cover the cost of the damage.
How to Negotiate a Settlement in a Property Damage Claim
If the insurance company offers a settlement in your property damage claim and you believe it is not enough to provide the full coverage you deserve, there are steps you can follow to challenge it. These include:
- Consider a partial settlement: A partial settlement means you can resolve the components of your claim that are fairly straightforward. You can then continue negotiating on the issues that are more complex.
- Clearly state that you are unhappy with the offer: Insurance companies are known for taking the words of policyholders out of context and using them against them so they will accept an unfair settlement. To combat this, you must clearly state that you are unhappy with the offer and that you think it is unfair.
- Speak to a lawyer: A property damage claims lawyer can review your claim and determine the amount of coverage you deserve. This is particularly important if there is evidence of damage you did not previously include in your claim.
- Get an independent appraisal: Contacting an independent appraiser and obtaining a quote is one of the best ways to prove the insurer is not offering a fair settlement.
Our Residential and Commercial Property Damage Lawyer in Daytona Beach Can Negotiate Your Claim
You should always work with a Daytona Beach residential and commercial property damage lawyer who can negotiate with the insurance company on your behalf. At Bundza & Rodriguez, our seasoned attorneys can communicate with the insurer on your behalf so you obtain the full and fair coverage you are entitled to. Call or text us now at 386-252-5170 or chat with us online to request a free consultation.