Immediately after a natural calamity strikes, the property might suffer extreme damage. Obviously, you expect your property insurance provider to immediately accept your claim and provide you the right compensation. Since you’ve never missed out on paying the premium on time, you expect that you would receive the genuine compensation from your respective insurance company. But that does not happen. It can be disturbing to find out that even after religiously paying the premium amount to the insurance company, you are paid only the partial compensation. In such a scenario, you can file for underpaid insurance claims in Fort Lauderdale, Florida.
There are a number of reasons because of which you get partially paid for the insurance claim. Some of the reasons are mentioned below:
Repairs and renewals before documenting the actual damage: After the property damage, you might immediately resort to repairing and renewing the property. In the haste, you might forget to take pictures of the actual damage for submitting it to the insurance company as proof of damage. The insurance company will thus compensate you as per the evidence. This is where you will be partially compensated for the claim.
False value projection: Many times the insurance companies hire the best in the industry adjusters to evaluate the property after damage. However, even the best adjusters falsely project the actual amount of damage. As per the reports provided by the adjuster, the insurance company determines the insurance claim amount. And if this is the case, you can hire an insurance claims lawyer who can help you get the right compensation.
Location of the property: The location of the property plays a major role in determining the amount of compensation of the claim filed. If the property is located in an area that falls under the high-risk zone, the insurance company might use this to underpay the insurance claim amount.
Profitability: Insurance companies run on the motive of earning profits. Their main agenda is to minimize payouts by underpaying insurance claims and increase cash in-flows. Insurance providers use various strategies to achieve this. It is the responsibility of the policyholder to be well-versed with the insurance claim policy.
The attorneys at David Low & Associates P.A. are skilled and hold years of experience in handling client queries. We prioritize the legal challenges faced by our clients and strive to get them the compensation they deserve. We are committed to meeting client requirements by providing quality services at affordable prices.
Are you looking for experienced attorneys for underpaid insurance claims in Fort Lauderdale, Florida? Call the experts at David Low Associates & P.A. For more information, call at 844-96-CLAIM