The state of Florida is located in an unfortunate location, the South Eastern coastal area of the United States, which is rife with hurricanes and cyclones from time to time. As a result, the region has seen some of the major hurricanes and typhoons in the world such as hurricane Wilma which laid waste in its wake. As a result, Florida home insurance claims saw an immense increase. However, it is not so easy that people, who have purchased home insurance policies, will be compensated for their loss. In fact, America has seen many lawsuits where home insurance buyers have taken home insurance companies to court.
So let’s discuss how’s and what’s of homeowner insurance in detail.
Understanding The Basics Of Florida Home Insurance Claims
Homeowner’s insurance provides house owners with financial coverage for the loss of their homes to various types of disasters such as natural disasters as well as man-made. Homeowners insurance may even be cover the contents of this house from various damages including theft.
Homeowner’s Insurance Divided Into Various Types
According to the Florida Office of Insurance Regulation also states that the following policies of homeowners insurance usually should contain the following components:
- Coverage A – The Dwelling
- Coverage B – Other related structures
- Coverage C – One’s Personal Property
- Coverage D – Loss Of Use/Additional Expenses Of Living
- Coverage E – Personal Liabilities
- Coverage F – Medical Payments to Others
- Additional coverage of the homeowner
- Various Exclusions
The Florida Office of Insurance Regulation has stated that these policies can cover houses or they can cover other structures. Most of the Florida home insurance claims cover either of the above 8 aspects.
If a structure is covered by homeowners’ insurance gets damaged, they can file a claim of compensation from their home insurance company.
How Often Do Home Insurance Companies Compensate For Florida Home Insurance Claims
To be honest, there is no single answer to this question. The decision can vary from company to company and from circumstance to circumstance. If there is smaller wreckage due to a natural disaster or even man-made disaster such as theft, an average America insurance company is less likely to pay for the damage. Many people who have applied for Florida home insurance claims have experienced this.
Companies Try To Get Rid Of Their Responsibilities In Such Cases
The company is usually going to find as many loopholes in the insurance law as well as their own policy rules to not pay the insurance or at least pay as much less as they can. This is where you will need capable and experienced home insurance lawyers like Shamis & Gentile, P.A. who can easily sort out the matter.
Coming Back To The Question: How Long Do They Take To Settle The Homeowner’s Claim?
Thankfully, under the Florida Homeowner Claim Bill of Rights, consumers have various rights when it comes to Florida home insurance claims.
After the insurance client files for homeowners claim in the state of Florida, the insurance company has 30 days to send the consumer a confirmation about the status of the claim. The status explains whether the claim is either completely or partially covered or is it still under investigation if the customer has made a written request.
Shamis & Gentile, P.A. is fully aware of consumer rights and fights for your insurance claim tooth and nail!
Payment To Be Done Within 90 Days
Within 90 days of filing the claim, the consumers are supposed to receive the full payment for the undisputed portion of their claim, or in case if it has been denied, get a written confirmation that the claim has been denied.
A Case To Be Noted: The Case Of Hurricane Michael Exposes The True Nature Of Insurance Companies
Recently, in the aftermath of the hurricane Michael, where companies have been criticized for not meeting the deadlines for pending homeowners claims. The true nature of these Florida home insurance claims is shocking!
The hurricane led almost 150,000 Florida home insurance claims after it hit the Florida Panhandle in the year 2018. However, even today, many of these claims are open. Hurricanes can also lead to fast wind, rain and thus cause property damage. This compromises the claim for homeowner’s insurance.
Regulators have criticized insurers for not being able to meet the deadline to resolve the Florida home insurance claims. As per the Insurance Journal, many regulators are calling on the insurance agencies to contribute their part in helping those affected by the hurricane.
If you too live in Florida and are struggling with your home insurance claim, Shamis & Gentile, P.A. will help you sort out the matters. Click here to learn more about our team.