Individuals file property damage claims with their insurance company expecting that they will receive a fair and timely settlement, but that doesn’t happen. There have been many instances where insurance companies have tried and successfully short-changed claimants.
It is advisable that not only should claimants be aware of the common tactics insurance companies use, but they should also hire property damage claim attorneys to help them navigate insurance claims.
Tactics Used by Insurance Companies
Some of the tactics that insurance companies use to shortchange property damage claims are listed below.
- Presenting the claimant with offers that are lower than the actual value of the damage that the property owner has suffered. Some claimants accept these offers, unaware of their losses.
- Some insurance companies attempt to deny or delay property damage claims. This can make claimants frustrated to the point that they give up or accept a low offer.
- Another tactic of insurance companies is misrepresenting policy terms or exclusions to avoid paying property damage claims.
- Most insurance companies do not provide a clear explanation of the claims process, making it difficult for claimants to navigate the system and get the settlement they need.
- In some cases, insurance companies may use high-pressure tactics to get claimants to accept a settlement quickly, without fully considering their options and their damages, which is why claimants must have attorneys to help them.
How to Protect Your Rights
As a property damage claimant, it is essential that you know the best way to protect your rights and navigate the claims process well. You can protect your rights by:
Documenting Everything
Many claimants fail to get the full amount for their damages because they fail to document the damage, and they cannot support their claim.
You should take pictures and videos of the damaged property. Keep a record of all correspondence with the insurance company, including emails, letters, and phone calls. If there are invoices or receipts from any property repairs or temporary accommodations, you keep them because they will help with your claim.
Understanding Your Policy
Before you sign up with an insurance company, you should go through their policy terms and conditions to understand what is covered and excluded in your insurance. It also helps to know how much you need to pay out-of-pocket before the insurance company covers the rest.
Then, make sure you understand the steps you must take to file a property damage claim and the timeline for settlement so that you adhere to it.
Filing a Claim Promptly
Do not hesitate to promptly notify the insurance company about the damage. Make sure that proof of ownership and damage assessments, including other required documentation, are submitted. Follow up with the insurance company to confirm your claim is being processed.
Insurance companies run a business, so they will try to shortchange property damage claims and minimize payouts. You have to stay informed about these tactics and protect yourself.
Do not forget to hire an attorney who will help you throughout your claims process and negotiate your settlement offer so that you get the right compensation.
