Generally, your homeowners’ policy covers the entire physical structure of your house. The structure is protected against any damage unless specifically excluded. However, damage from rising waters and street flooding is typically not covered unless you have a separate flood policy. Most people are unaware that personal property is also usually covered, along with additional living expenses if you need to move out due to damage. There are many other valuable and often misunderstood provisions in your policy that provide additional coverage when you incur damage to your property.
Benefits vary by policy and industry. For example, hotels and healthcare organizations often have special provisions for pandemics. Some of the losses you can claim include:
Working with your business advisors, the attorneys at FIG may identify additional claimable losses.
First, take an inventory of your home. Make a list of any damage to your house and personal property, noting which parts were damaged. Do the same for valuables like electronics, vehicles, major appliances, and furniture. Taking pictures or videos is highly recommended. If you can locate receipts for any items, do so. Keep all receipts for extra living expenses incurred or any emergency repairs made.
DO NOT DISCARD ANY DAMAGED PORTION OF THE HOUSE BEFORE THE INSURANCE COMPANY HAS HAD A CHANCE TO INSPECT IT.
In Florida, most homeowner’s insurance policies have a deductible, which is the amount you are responsible for paying before the insurance company pays your claim. For example, if your home suffers $25,000 in roof damage and your policy has a $3,000 deductible, your insurance carrier should pay you $22,000.
Hurricane deductibles are a percentage of the total policy Coverage “A” limit. This number is generally found on your Insurance Policy Declaration Page (Dec Page). For example, if your Coverage “A” Limit is $200,000 and your Deductible Percentage is 2%, your deductible amount would be $4,000 (your out-of-pocket expense on the claim).
A retainer packet is a document that outlines the fees and costs (if any) of the services FIG will provide during our representation. To expedite your claim, this packet also authorizes us to contact your insurance company and mortgage company (if applicable) on your behalf regarding your claim.
The Property Claim Team at FIG will prepare an independent estimate and submit it to your insurance company. Your insurance company will also send someone to do their own estimate of the loss. If the amounts or items on both estimates differ, an attempt will be made to resolve the estimation of the damage without legal action. Most disputes in the insurance context are over the value of the property damage. Therefore, it is crucial to have a team like FIG advocate for your rights! The insurance companies have experts and attorneys on their side – you should too!
Generally, the entire physical structure of your house is covered under your homeowners’ policy. The physical structure of your house is protected against any damage unless specifically excluded. Damage from rising waters and street flooding is generally not covered (unless you have a separate Flood Policy). What most people do not know is that personal property is also most likely covered, as well as additional living expenses when having to move out of your home due to the damage incurred. There are many other valuable and often misunderstood provisions in your policy that provide additional coverage when you incur damage to your property
Benefits vary by policy and very often by industry. For example, hotels and health care organizations often have special provisions in their policies for pandemics. Here are some of the losses you can claim. Working with your business advisors, the attorneys at Insurance Litigation Group may find others:
Lost business income
Employee salaries
Lease payments or, if a property owner, lost rental income
Loan payments
Expenses of operating from a temporary location and advertising announcing the move location.
Inventory losses
Supplier payments
Taxes and utilities
The first thing you should do is take an inventory of your home. Make a list of any damage to your house and personal property. Note which parts of your property were damaged. Do the same for your valuables, for example, electronics, vehicles, major appliances, and furniture. Taking pictures or video is a great idea. Having a visual record will help your claim. If you are able to locate receipts for any of these items, do so at this time. Also keep all receipts for any extra living expenses incurred. Or any emergency repairs made.
DO NOT DISCARD ANY DAMAGED PORTION OF THE HOUSE BEFORE THE INSURANCE COMPANY HAS HAD A CHANCE TO INSPECT IT.
In the State of Florida most if not all homeowner’s insurance policies will have some sort of deducible. The deductible is a dollar amount that you are responsible to pay before the insurance company will pay you anything on your claim. For example, if your home suffers roof damage in the amount of $25,000.00 and your policy has a $3,000.00 deductible; then your insurance carrier should pay you $22,000.00.
Hurricane deductibles are a percentage of the total policy Coverage “A” limit. This coverage “A” number is generally found on your Insurance Policy Declaration Page (Dec Page). Example: If your Coverage “A” Limit is $200,000 and your Deductible Percentage is 2%, your deductible Amount: $4,000 (out of pocket expense on the claim).
The retainer packet is a document that outlines the fees and cost (if any) of the services ILG will provide in the scope of our representation. To expedite your claim. this Packet also gives us the authorization to contact your insurance company and mortgage company (if applicable), on your behalf, regarding your claim on your behalf.
The Property Claim Team at ILG, will prepare its own independent estimate and submit that estimate to your insurance company. Your insurance company will also send someone out to do their own estimate of the loss. If the amounts or items on both estimates are not the same, then an attempt will be made to resolve the estimation of the damage without legal action. Most disputes in the insurance context are over the value of the property damage. Therefore, it is imperative to have a team like ILG advocate and fight for your rights! The insurance companies have experts and attorneys on their side – you should too!
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We represent homeowners, business owners, contractors, restoration and mitigation professionals, in their disputes against the insurance companies.
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