Has your property sustained damage? If so, these are five tips that you should keep in mind as a policyholder in Florida.
- You Must Give Prompt Notice
Your property insurance policy puts obligations on you as a policyholder. For example, you are required to keep up with your payments in order to keep your coverage active. Another important obligation is that you must report your damage in a timely manner. The failure to give the insurance company prompt notice of your damage could result in your claim being partially or fully denied. Do not let this happen to you. You should report the damages even if your are not entirely sure of the extent of the losses.
Best practice is to be thorough but leave some wiggle room. For example, if you have major water damage, be sure to report the full extent of the damage that you can currently see, but be sure that you also indicate that you are not sure if you can see everything. This will let the company know that you may have additional losses that must be compensated.
- Document Everything
Beyond filing a timely report, the other critical earlier step is that you must work to document the full extent of your losses. Ultimately, if a dispute arises, you will want to have as much evidence as possible to support your case. Please keep in mind the most important rule of documenting damage: the more evidence you have, the better. Supporting evidence can include everything from receipts and financial records to multi-angled photographs of the damage.
- Mitigate Your Damages
In Florida, policyholders have a legal duty to mitigate their damages. This means that you should do what you reasonably can to ensure that your property damage does sustain any additional losses. To be clear, this is an affirmative obligation. You have a responsible to not only avoid causing greater damages but to also take proactive steps to reduce the risk of further losses.
- Do Not Sign Away Your Rights
Always read documents before signing. Be careful. If you do not fully understand a document, do not sign it. In insurance claims, a signature can be very powerful. The last thing you want to do is to sign away your rights without realizing it. You need to be sure that you are making an informed decision. If you are unsure or have any reservations about signing a document, please seek assistance from a qualified professional.
- Consult with an Attorney
You deserve compensation for the entire extent of your covered losses. If the insurance company has denied your claim outright or only paid you part of what you are owed, you should speak to an experienced property insurance attorney as soon as possible. Your attorney can assess your claim and help ensure that you are being treated fairly by the insurance company.
Was Your Property Insurance Claim Denied?
Our attorneys are ready to help. At Geyer Fuxa Tyler, we have helped many property owners obtain the full and fair insurance settlement that they deserved. Please reach out to our Sunrise office today to learn more about what our team can do for you. We represent business and homeowners throughout Broward County, including in Fort Lauderdale, Pembroke Pines and Hollywood.
