Fitch Ratings, one of the three largest credit rating agencies in the United States, has speculated about the new presidential administration and what that means for the insurance industry.
While Fitch did not expect any policy initiatives to be directly focused on the non-health insurance industry, extensive changes to the financial industry would ease regulations for the larger U.S. insurance corporations.
Though Fitch did stipulate that a new presidency would not have an immediate impact on the insurance industry, as well as the fact that insurance agencies are generally regulated by in-state laws, the macroeconomic trends that could emerge from a change in economic policies could have a critical impact on profits, premium growth, and investment performance.
With financial deregulation a major standing point during his election campaign, and an economic strategy likely to be backed by the majority Republican Congress, changes to the current system will undoubtedly have multiple implications for insurers. The repeal of the Dodd-Frank Act, which was a massive financial reform legislation passed in 2010 as a response to the financial crisis and to develop oversight of the American banking system, could greatly reduce regulatory standards.
Three of the largest insurers - Prudent, AIG, and MetLife - were all designated as systemically important bank and non-bank financial institutions (SIFIs) in 2014 and faced higher standards.
Fitch analysts expect a Trump administration to begin reining-in these designations following changes in the Financial Stability Oversight Council (FSOC) leadership or through changes to the Dodd-Frank Act itself.
The Federal Insurance Office, which was developed under Dodd-Frank, may see its role diminished or modified under the new president, and this could also reduce the nation’s participation in international insurance regulatory activities.
Consumer protection would likely be affected by deregulation and tax code changes. Some life insurance products benefit from tax sheltering and offshore business; if corporate tax rates are lowered or tax rules simplified, the relative value of these products will likely change as well.
Alongside potential regulatory and tax shifts, insurers will also have to consider recently-approved Department of Labor rules that affect investment portfolios, and macroeconomic changes.
Fitch noted that future trends involving increases in interest rates and limited inflation could be positive for insurers, but sharp spikes in either of these could also be disruptive to profitability and growth across all insurance sectors.
While it will likely be some months before the new administration is able to implement changes and those changes begin to take effect, it’s still important for the general public to be aware that industry deregulations may leave a significant mark on their insurance policies and the manner in which their insurers work with them.
While new governmental administrations and presidents can always be a cause of concern, it’s important for consumers to know that still does not give insurers the right to act in bad faith.
Unfortunately, large insurance companies are business, and thus are ultimately concerned with increasing profits and lowering overhead. This also means that the general public can fall victim to their bad faith tactics and business techniques.
Don’t allow your insurance company to take advantage of you. The attorneys of Millin & Millin are here to help protect your rights and fight for your due justice. Contact us today at (956) 631-5600 for a free case evaluations.
Winter is here in the Rio Grande Valley, and while we might not get as cold as the rest of the state, there is still the occasional cold front that sweeps through the area. These cold spells can bring with them chilly temperatures, rain, and heavy winds.
An accidental fire or roof damage caused by winter weather can mean having to file an insurance claim. But unfortunately, insurance companies may try to deny, delay, or underpay your winter damage claim by placing fault on you.
If you’re having issues with your insurer over a winter damage claim, then contact the law offices of Millin & Millin, your bad faith insurance lawyers. We have the experience and know-how to get you the resolution your situation deserves.
Also, consider the following winter damage claims that are frequently denied and how you can avoid them.
While the McAllen metro area doesn’t necessarily experience the same bitter winters as northern Texas, the few cold snaps that move through the area sends residents towards their space heaters and other heating equipment. According to a study conducted by the National Fire Protection Association:
Insurance companies will try to avoid paying your fire claim by investigating if the fire was an act of arson. If the fire department is unable to identify the source or reason of the fire, any inconsistencies in your story and personal property listing can cause some major issues.
One strategy to inhibit a heating equipment fire is to keep any combustible items, such as clothing or furniture, at least 3 feet away from the heating source. Also, be sure to check equipment prior to use, as any loose connections or wiring can easily lead to a fire. Lastly, make sure to have smoke alarms working properly throughout your home for an adequate early warning system.
The winter weather of the Rio Grande Valley won’t bring any snow, but it can bring rain and roof damage. A collapsed roof or damage caused by rain should be covered in your home insurance policy, but contract language can make it difficult for policyholders to protect themselves, and insurers will use this tactic to avoid paying out on a roof damage claim.
Prior to any damage happening, you might just want to conduct an outdoor inspection, so that you can repel any arguments by your insurer that you hadn’t take the right steps to prevent or minimize damage. Check for missing, cracked, or creased shingles and also check your home’s flashing. If your home has rain gutters, then inspect them also, as rusted gutters with leaking seams can allow water into your house.
Should you still fall victim to roof damage caused by winter rains, then take the following steps to ensure an effective insurance claim is made:
If your insurance company avoids paying you out, and it doesn’t seem fair, it probably isn’t.
While freezing temperatures in the McAllen area are rare, they do occur nonetheless, and if you aren’t prepared, a busted pipe can lead to some major water damage. While water damage caused by a leaking pipe is typically covered by your insurance company, they may try to place the blame on you by declaring that you failed to properly winterize your pipes, thus avoiding their responsibility to you.
Because water expands when it freezes, this expansion puts tremendous pressure on water pipes, and can cause them to break. Outdoor hose bibs, swimming pool supply lines, water sprinkler lines, pipes that run along the exterior walls, and water supply pipes in unheated interior areas are subject to freezing.
One of the most basic tips you can follow when the weather is very cold outside is to let cold-water drip from the faucets served by exposed pipes. Even a trickle of running water will help prevent pipes from freezing. Also, on freezing nights, keep kitchen and bathroom cabinet doors open to allow warm air to circulate around the plumbing.
Remember that if your policy is unclear about water damage, you have the ability to fight a denied or underpaid claim.
If you’ve done everything in your power to protect your home this season, but you’re still having to deal with the bad faith tactics of your insurance company, do not hesitate to contact Millin & Millin, PLLC.
Our comprehensive knowledge means we have the ability to represent clients in difficult cases that involve bad faith insurance. Individuals and businesses can rely on our professionalism and skills to guide them through the most complex legal matters.
Don’t let your insurance company scare you with their tactics. Fight their denial today by calling (956) 631-5600.
Throughout the years, numerous cases involving unethical insurance practices have proven that the insurance industry has become a profit leader by purposely harming its policyholders.
Lamentably, the insurance companies involved in these illegal acts are the same ones that spend billions of dollars persuading consumers to purchase their policies while guaranteeing the best coverage and compensation during an unfortunate event. The unfortunate truth is that not all insurance companies intend to provide their policyholders with the help that the individuals sign up for.
Although insurance bad faith acts are illegal and insurance companies face the risk of being penalized, it still occurs with the sole purpose of increasing revenue.
Have you been victimized by the unethical acts of an insurance company? Are you struggling to receive a fair compensation? The tough team of attorneys at Millin & Millin have helped and fought for the rights of a multitude of individuals. Call us today for a free case evaluation at (956) 631-5600.
Denying a claim is probably the most common malpractice utilized by an insurance company to continue increasing profit. In fact, there have been numerous cases in which individuals have been involved in severe accidents caused by other drivers, and which has left them in a coma, with collapsed lungs, and multiple injuries.
However, insurance companies identify these claims as acts of road rage, which therefore do not fall in the category of an accident.
But there is more than just denying your claim for unethical reasons; the most appalling insurance malpractice is delaying a claim until the death of an insured.
This act mostly happens to long-term policyholders such as senior citizens, with a history of medical conditions. Insurance companies know the health conditions of their policyholders and often take advantage of age and unhealthy condition.
As per the words of a regulator, “The bottom line is, insurance companies make money when they don’t pay claims, and will do anything to avoid paying because if they wait long enough, policyholders will die.”
Policyholders who have been victims of any kind of unfortunate situation, whether a traffic accident or a catastrophic event, often feel a sense of ease when they realize that their insurance provider will make up for any loss.
Unfortunately, policyholders face deeper challenges that often lead to major economical burdens. One of these burdens is being lied to about the type of damages that are covered by their policy.
In 2005, a policyholder in Mississippi suffered over $130,000 worth of damages when Hurricane Katrina struck his home.
The damages included flooding of the lower level of his home. Although the individual was supposedly covered by hurricane insurance, his insurance company pointed to the anti-concurrent clause of his policy, which concluded that his losses would not be covered.
The man testified that his insurance agent had told him that he did not need flood insurance and explained that the insurance company responded to his claim by saying he should’ve read his policy papers – papers that he had only received after he purchased the insurance.
Even more so, insurance companies do not always use plain English language in their forms and policies. Policyholders are often confused with the terminology used in their policies, which is another fraudulent tactic that keeps these disreputable companies increasing profit.
Auto insurance companies for example, also increase their profit by utilizing credit scores to develop their policies different for each individual. If you are the kind of person who finds it convenient to pay your purchases in cash, you may face a premium increase of over 100% for having no credit on file.
Furthermore, policyholders can have an impeccable driving record, no claims on file, and be eligible for many driver discounts, but will not qualify for a lower rate if they have no credit score.
The way insurance companies justify the credit scoring is by assuming that if you are careless about credit then you must be a careless driver or irresponsible property owner. This mostly affects less fortunate individuals who have no credit on file.
The element that makes this type of situation even more alarming is that insurance companies also investigate a policyholder’s lifestyle. One’s hobbies and grocery lists can be used to determine a policyholder’s premium, and work in favor of the company, thus helping them to stack up on profit.
The holiday season is one of the most joyous times of the year. There’s a wonderful abundance of family, friends, festivities, and cheer. But there’s also an increased risk for a holiday mishap. Especially fires.
Naturally, the first instinct is to turn to your homeowners insurance company after a disaster. Once a claim is filed, your insurer will send over an adjuster to evaluate the damage. Sadly though, the adjusters are representing the company’s interest first and foremost, which means the homeowner gets the short-end of the stick.
In a catastrophic house fire, for example, the insurer will often recommend a professional cleaning service to clean the carpets, furniture, etc., rather than pay replacement costs.
Rather than have to deal with the consequences of a bad faith insurance claim, consider taking the necessary steps needed to reduce these risks.
The National Fire Protection Association (NFPA) issued a report in 2015 that showed that between the years of 2009-2013, Christmas trees were responsible for an estimated 210 house fires per year; this lead to an annual average of 7 deaths, 19 injuries, and $17.5 million in direct property damage.
Although Christmas tree fires are not very common, when they do occur, they are more likely to cause serious damage. Consider the following recommendations to avoid a fire hazard:
The same study completed by the NFPA found that U.S. fire departments responded to an average of 860 home fires during the same time frame (excluding Christmas trees). Annually, these fires account for an average of 1 death, 41 injuries, and $13.4 million in direct property damage.
Additionally, candles accounted for 38% of home decoration fires, with half of those occurring during the month of December. Remember the following candle safety tips to avoid a holiday tragedy.
Fireplaces are uncommon in the McAllen metro area, but electric space heaters are still widely used during those occasional winter cold fronts. While necessary for many families, the NFPA urges caution and ask the public to practice safe heating tips. Though electric space heaters only account for 32% of home heating fire involved space heaters, they cause 79% of home heating fire deaths.
The leading factors for space heater fires includes the equipment being too close to combustible items such as furniture, clothing, and mattresses, as well leaving the space heater unattended.
Millin & Millin bad faith insurance lawyers offer the following tips.
Even the most vigilant, safest family has accidents. If you are having to file an insurance claim, it’s likely due to the fact that you have just suffered through a terrible event. Having to deal with the unscrupulous tactics of an insurance company is the last thing you need on your plate during this time.
Depend on the responsiveness of the Millin & Millin legal team to get the justice you need when seeking your rightful compensation from deceitful insurers.
Contact us at (956) 631-5600 to get the legal representation you need.
What on the outside appear to be simple meetings with State Department of Insurance employees and insurance companies, has individuals worried that these engagements are actually being used to persuade regulators to approve increased premiums.
Perhaps most tellingly, insurance companies are spending hundreds of thousands of dollars developing meetings at prime vacation spots where regulators have access to free meals and other privileges.
It appears that close relationships between state insurance commissioners and insurers are the leading reason why consumers are at greater risk of unfair treatment.
Have you been treated unfairly by your insurance provider? Let Millin & Millin Attorneys advocate on your behalf and help you take advantage of your legal rights.
Throughout the nation, insurers have played an influential role in the decisions of insurance commissioners, and while state commissioners are supposed to regulate the insurance industry fairly and protect policyholders, it appears that insurance companies have corrupted the system.
For example, an Arkansas case in 2008 involved an insurance commissioner who failed to comply to state standards, and showed little understanding of a hospital’s billing complaint.
After countless interactions with UnitedHealthcare lawyers and lobbyists, the Arkansas insurance commissioner decided to grant the case in favor of the insurance giant. The ultimate decision, and dishonest behavior of the state commissioner, saved UnitedHealthcare millions of dollars.
But the nation, as well as policyholders, faces a deeper concern as matters worsen. According to the Center For Public integrity, 6 percent of the annual revenues collected by insurance departments were spent on regulation.
This puts both a policyholder and the nation in general in economic distress. For example, a consumer is placed in a position of vulnerability, as insurance companies will potentially try to utilize social media to gain personal data about a customer.
This means that an insurer can adjust a policyholder’s premium to reflect a customer’s lifestyle.
Furthermore, insurance companies are economic development engines in many states, so a lack of political fortitude by regulators could place them in financial hardship.
The countless gatherings and powerful relationships that are developed between insurers and insurance commissioners usually are not in vain. In fact, these relationships build solid foundations and pathways for employment opportunities for former regulators who sometimes resign from their position before their term has been completed.
According to the Center For Public integrity, half of the 109 insurance regulators that resigned from their term obtained an employment opportunity with the industry they used to regulate.
There is no doubt that insurance commissioners were thinking about their future and no one else’s.
At Millin & Millin Attorneys, we understand how horrible it is to be victimized by a corrupt and unjust industry. If you have been the victim of bad faith insurance practices, then let us take the required measures that will help you gain the compensation you deserve. Our attorneys service the McAllen metro area and surrounding Rio Grande Valley cities.
Contact us today for a free case evaluation at (956) 631-5600.
In life, one thing that is guaranteed and cannot be avoided is change, and it sometimes comes as a surprise whether one likes it or not. But there are two types of change: those that we embrace and the ones that negatively affect our well being. So, what do you do when life throws you a curveball?
Perhaps you were in an accident that caused severe injuries, or you were a victim of catastrophic loss, in which your property and belongings were destroyed. The most reasonable response would be turning to your insurance company to obtain the necessary compensation.
After all, you are only seeking the financial help that rightfully belongs to you as a policyholder. While for the most part, there are plenty of devoted and loyal insurance companies who care about seeing you back on your feet after a life changing event, not all insurance companies have your best interest in mind.
Acts of bad faith happen all the time, but you do not have to be a victim. If you or a loved one are struggling to obtain fair compensation after an accident or unexpected event, contact Millin & Millin PLLC today. Our reputation and impeccable knowledge in civil litigation has helped many individuals take advantage of their legal rights.
How do you know if your insurance company is acting in bad faith?
Below are a few examples of insurance bad acts:
An insurance bad faith results in deeper loss for the company when the insurer fails to provide the claimant what he or she deserves by law. In one bad faith case, there was a man who was struck by a truck as he raked the leaves of his front yard.
Apparently, the driver had jumped the curb and hit the man. The injured individual was rushed to the hospital where he was diagnosed with a broken neck, brain hemorrhages, and a herniated disk.
Weeks after the incident, the man received minimal compensation from the driver’s insurance company and so decided to file a claim right after.
The insurance company was required to pay him $100,000 in underinsured motorist coverage. After his claim was ignored and unfairly denied, the man sued the insurance company and received $8.2 million in damages.
Those who do not have to worry about whether they must pay taxes on bad faith litigation recoveries are those who are granted compensatory damages for physical injuries or physical sickness.
Individuals who are not adequately compensated or whose health has worsened because of an insurance company’s failure to provide appropriate compensation are usually exempt from paying taxes.
However, one key element to take into consideration is to understand who paid the premiums on the insurance policy. If your employer paid the premium than you are subject to taxation.
The team at Millin & Millin PLLC is ready to advocate for your legal rights. We have helped a multitude of individuals from all around the Rio Grande Valley deal with bad faith insurance claims. Contact us today for a free case evaluation at (956) 631-5600.
Lindsay Diaz lost her duplex home in Rowlett, Texas when Seagoville based Billy L Nabors Demolition mistakenly tore down the house following a rash of deadly tornados in late December 2015.
Unfortunately, individuals who have suffered damage to their home or property because of a negligent act by a business or corporation often encounter difficulty in seeking just compensation in their dispute with the offending party. Many businesses will engage in bad faith behavior to avoid liability for their actions. When a company commits a wrongful act against your property, you’ll want a law firm that is willing to fight for your legal rights. Millin & Millin, PLLC has the attorneys that are committed to making sure when you or your property are hurt by business wrongdoings, the company is held responsible.
According to the lawsuit filed by Diaz, the demolition company whose slogan is “We could wreck the world” - failed to perform due diligence when they erroneously drove to her duplex at 7601 and 7603 Calypso Drive, rather than their actual target home, which was located at 7601 Cousteau Driver.
The houses, which were a mere block away from one another, had both suffered tornado damage. Diaz, however, had not sought to have hers demolished and was actually anticipating fixing the building, but was simply waiting on a FEMA estimate before commencing with repairs. Diaz had even submitted a permit to rebuild, but then received that fateful phone call. Unfortunately, her plans had been completely rendered moot.
The chief executive of Nabors Demolition, George Gomez, claimed that the demolition crew was mistakenly sent to the wrong house because of a Google Maps error. At the time, the company crew was certain they had arrived at the right home and were confident they had torn down the correct structure until they were notified of their mistake.
It is purported that Gomez initially told one local news outlet that the demolition was “not a big deal” and that the company’s insurer would handle the situation. The statement began to circulate online, during which Diaz attempted to contact Nabors, but was unable to get in contact with the company.
It wasn’t until after thousands of residents responded to the story on Facebook, and after an influx of negative media coverage, the Diaz said the demolition company finally reached out to her to offer an apology. Diaz is quoted as saying, “I sat down with them and we spoke with them and they sincerely apologized. They promised to help and to make it right.”
However, since that conversation, Diaz has filed suit alleging that attorneys for Nabors have failed to agree to a full settlement for the mistaken demolition.
The lawyer representing Diaz added that Nabors Demolition also damaged the foundation of the property and have thus added to Diaz’s rebuilding costs. Furthermore, because the insurance repair estimates were based on the original damage the house sustained by the tornado, Diaz is now being forced to cover the total cost of rebuilding.
The legal representative of Diaz in her lawsuit against the company stated that Nabors were absolutely negligent in their failure to ensure that Diaz’s duplex was the correct home prior to initiating the demolition. “If you’re in a business of demolition, especially of homes, you need to have more due diligence. I think it was gross negligence. I think they should have taken additional step to make sure they were tearing down the right home.”
Regardless of the type of claim, the size of the case, or the subject of litigation, our lawyers have represented plaintiffs fighting for justice against all size of defendants. The attorneys at Millin & Millin, PLLC understand that those in need of legal representation are seeking qualified, excellent, and efficient lawyers. That’s exactly what our firm brings to the table.
Reach us at 956-631-5600 or contact us here to get the legal ability and dedication you deserve.
Every year, the average American spends thousands of dollars on insurance. Whether it’s medical, homeowners, automobile, or any other sort of coverage, the vast majority of people do not have to deal with filing large claims. This means most people have very little experience in dealing insurance agencies...and the companies are aware of this.
Unfortunately, complicated business jargon, deliberately placed delays, and purposely underestimated losses run rampant throughout the industry. A Haunting Truth to find out about a recent incident that exposed the dark side of the business. Realistically, insurance companies are businesses, which means profitability is the final goal. By engaging in delays, lowballing, and outright wrongful claim denials, insurance corporations are able to maintain a high profit margin while the policyholders carry the brunt of the burden.
You may not know how to deal with bad faith insurance dealings, but Millin & Millin Attorneys know exactly how to fight for your just due. Our compassion, dedication, and personal attention will get you the results you deserve.
We also want you to be familiar with the principles of insurance laws in order to protect yourself. By finding out what your rights are, and what your policy covers, you’ll be able to level the playing field.
So here are 5 things you insurance companies probably don’t want you to know.
Bad faith cases have to be thoroughly investigated to evaluate the likelihood of their success and so law firms are often willing to provide free legal analysis to the insured to validate whether or not the case should be filed. Use this opportunity to receive some free advice from an expert in the field.
have made a claim, they may be violating the law.
Some insurance companies may attempt to deny a large claim by accusing you, the policyholder, of trying to defraud them under the pretenses of perjury. Because it is understandably easy to skim through a policy application and answer questions quickly, though honestly, you may have forgotten minute details about every hospital visit.
Insurance agencies like to utilize this often unintentional oversight by policyholders to scare claimers away. However, if you are innocent of any wrongdoing and did not purposely commit perjury don’t give into such tactics.
Regardless though, remember to read all policy applications thoroughly and with an eye for incongruities in the writing. Also, do not simply fall over when insurance companies attempt to eliminate your policy after a claim. If you were being honest on your application then you have no reason to doubt the legal bindings of the policy, and with the right legal team, you can prove that the insurance company acted in bad faith.
It is illegal for an insurer to engage in biased delays, underpaying, or to utilize deceptive tactics in claims handling. The insured should not have to hire an attorney to be paid what they are owed. Insurance agencies must always be just and fair with their policyholders and any violation to these legal expectancies of good faith exposes the carrier to significant legal damages.
Insurance agents are not out inherently out to get you. They’re simply doing what their position entails, which is selling policies. The inconvenient truth is that the agents may not be as fully educated about the policy they are selling as they would have you believe. Yes, they’ll know what is covered, but that doesn’t necessarily mean they know what isn’t.
Furthermore, the agent usually won’t be able to show you a copy of the exact policy you are getting, as many companies send those out by mail after the policy has been purchased. So when you are in the initial stages of acquiring insurance, make sure to have the agent write down as many details of the policy as possible, and try your best to leave the office with some legally binding forms so that you aren’t left out on the dark about your coverage.
If your insurer argues that they would be offering you more to settle than what the net worth of your claim is after legal fees, then recognize they are attempting to underpay you. By engaging in such conduct they are not allowing the policyholder their legal right to be made whole. Watch out for this scare tactic and realize that insurance companies must pay for your legal costs should your claim ultimately lead to arbitration.
Making an insurance claim can be outright confusing, especially if it’s your first time going through the process. Sadly, many insurance companies will not make it any easier on you, and may have you run through hoops just to receive the coverage that is rightfully yours. Don’t worry though.
Millin & Millin PLLC are more than capable of advocating for you and helping you find the peace and justice you deserve. When you choose Millin & Millin PLLC, you are never alone in the process.
Find out how we can help you by scheduling an appointment with us today here or by giving us a call at 956-631-5600.
Making an insurance claim on a motor vehicle accident, construction issue, or personal injury incident, can be outright confusing; especially if it’s your first time going through the process.
Don’t worry though. Millin & Millin PLLC are more than capable of advocating for you and helping you find the peace and justice you deserve. When you choose Millin & Millin PLLC, you are never alone in the process.
In fact, here are some tips and information that will help to ease the stress of going through the various steps of the claim.
The first thing we advise you to do is to read through your insurance policy thoroughly to see whether you are covered and what exactly you are covered for. Bare in mind, you may be covered for the same loss under more than one policy. However, you cannot claim under more than one policy for any loss, so carefully consider which policy to claim against.
If you need to set up an insurance claim, call your insurance adjuster and provide them with exact and concise details of the claim. Also, make sure to request a claim form if they have not offered to give you one.
Depending on the specific type of claim, your insurance adjuster will give you advice on what to do next.
For example, if your home has been damaged, they may suggest you get some emergency repairs done. Always check that your insurance will cover the cost of any repairs. For larger claims with extensive damage to the home, it may be best to hire an experienced professional to thoroughly inspect the area.
By working with a 3rd party inspector, you’ll have a professional working on your behalf (rather than for the insurance company), and they may even help to negotiate with your insurance company to settle your claim. By utilizing an expert, insurance companies are much more liable to provide you with the proper compensation for the damage to your home.
However, keep in mind that the inspector will not be covered by the insurance, and you will have to pay for their fees out of pocket.
Another aspect to take into consideration is the “size” of the claim. If the total amount is relatively insignificant, then you might want to hold back on making that claim.
If you do decide to make a claim, regardless of its monetary value, you may lose your no-claims discount with certain insurance companies. A no-claims discount takes into consideration the number of years in which you have not made a claim on your insurance policy and its worth varies from insurer to insurer.
Additionally, you may find it more difficult to shop around for certain types of coverage the next time you renew your policy.
Furthermore, insurance companies are required by law to have a written procedure in place for dealing with claims and should assist you in the process. You should also consistently receive information about new developments and about changes within the process that can affect the outcome of your claim.
You should know the decision on your claim within 10 business days of when the insurance company makes the final decision.
When a claim is not settled in your favor, you should receive the reasons why in writing, and be provided with details on how you can appeal the decision. There is no definite length of time to settle an insurance claim and it simply depends on the type of claim being made. Complicated or larger claims may require expert analysis or the input of several knowledgeable professionals before the claim can be decided.
Though your insurance company will be the party that decides whether your policy covers the costs and damages, ultimately it is your choice whether or not to accept the settlement. If you are dissatisfied with their offer then you have the legal right to attempt to negotiate. If the statute of limitations has not passed, then you are allowed to seek legal advice, and have an attorney review your case to help you determine if are being compensated appropriately.
Make sure to always give accurate information whenever you are applying for an insurance policy. Be aware that any claim you make could be negatively affected if you give inaccurate or incomplete information when you initially apply.
If you have a claim against you by another party, insurance companies are not obligated to inform you of the outcome of such a claim and can agree upon a settlement without your knowledge or consent.
Always keep in contact with your insurance company and know the name of the insurance adjuster who is appointed to your case. If you disagree with the outcome of claim against you or have any issues throughout the process, you have the right to let your insurance adjuster know, and can speak with a representative from the customer service department at the insurance agency.
If you were involved in an auto accident, or perhaps affected by hail, and need repairs made to your car, you might want to make a claim on your policy to cover the cost.
Your insurance company will likely have a list of approved auto repair shops that are permitted to work on your vehicle. There is also the possibility that you may be given the option to use an auto repair shop of your choice.
The largest report of hail this year near McAllen was 1.75 inches. Don’t wait around for hail to damage your home and vehicle. Prepare ahead of time and protect your property. It is imperative that a homeowner knows what to do in the event that their home is damaged by hail.
Hail can cause a wide range of damage to a home and vehicle. Insurance companies don’t always make it easy to file a hail damage claim and some claims are not always accepted. Homeowners find themselves having difficulty with claims and compensation for payments that have already been towards any damages to the home. Hail damage is often unseen when looking at the roof from below, at which point it is necessary to bring in an experienced professional to inspect the area. The inspector must be licensed and insured to be credible and to securely work on the damaged area.
Hail storms can cause extensive damage to homes, especially to the property’s roof. Leaks in the ceiling, insulation failure and electrical issues are just a few of the problems that can occur if a roof is not repaired after a hail storm. It is highly important that these repairs be made as quickly as possible so that any further damage may be prevented. When obtaining a professional to inspect the damages to your property consider that some insurance companies have a tendency to refute many justifiable claims. It is best to hire an external inspector to verify and document all of the damages to the house and roof; the inspector’s report may reveal more damage than the insurance adjuster’s originally discovered. Even the most minuscule holes that are found can lead to long term damage and deterioration of the home and roof. There may even be cracks in the walls from water pressure; it is important to get a full and detailed report of all damages to the home. Even if the cracks and holes seem insignificant, a claim to your insurance company for hail damage is still valid.
Homeowners, check your insurance policy before having the roof inspected. Not all policies cover hail damage and without being covered for hail, a claim cannot be filed. However, if hail damage is included in the policy then the policyholder should contact their insurance company immediately. The policyholder will be asked a series of questions by an insurance company representative in reference to the damage to the home and any other relevant information. After the claim has been initiated, the insurance company will send an adjuster to inspect the roof and any other affected areas of the home. If the homeowner decides to hire an external professional then both the professional and the adjuster may review the damages and compare notes. After the damages have been reviewed an estimate will be made. Unfortunately, there are instances where the adjuster does not find any damages to the home and the inspector disagrees. The inspector will have to provide additional information to justify the claim.
Homeowners may have to pay the deductible to the hired inspector. However, if the claim is approved, the insurance company may pay the remaining balance to the inspector or to the policyholder who in return must pay the inspector what is rightfully owed.
Homeowners please be cautious and carefully read and comprehend your insurance policy. Claims can be denied if the required documentation is unavailable at which point a once valid claim will be revoked and the insurance company can claim any damage that is discovered to be prior to the existing situation. Also if a policy has been recently renewed or opened within a short period of time of the damage, the insurance company can claim that the damage or any other issues to the home will not be covered under the policy.
Once the damage to your home is proven to be valid and you have been in contact with your insurance company, you may need an attorney. An attorney can ensure that the insurance company pays for the damages. Although you may not have to go to court, an attorney can assist with the claim in order to make certain that it is properly covered by the homeowners insurance.
At Millin & Millin, we are dedicated to cover the holes and the cracks that are affecting your quality of living. We will ensure that your homeowners insurance company pay out what is owed to you and that damages to your home be repaired as quickly as possible. Let us help you protect your property.
