My Insurance Claim Was Denied - Now What?
Did you know that your insurance isn't truly wanting to bend over backward to help you, protect you, and make sure you're taken care of in the event of damage occurring to your property? In fact, when it comes to insurance companies it's a numbers game. Literally, they use actuarial science to "gamble" or "risk" your investment in a policy against the odds of a claim being submitted. They take the risk of all of their customers combined and that's how they set their prices. So when you submit a claim for damage to your structure, it doesn't necessarily mean they want to pay it. In fact, there are many instances when we are contacted by someone who states: My insurance denied my claim. What can I do?"
My Insurance Denied My Claim
Here's an example of a claim for damage to a structure that resulted in an insurance claim being denied. A young couple who bought their first house in Middletown, Ohio was experiencing a rather cold winter. One night, the husband woke up and went downstairs for a glass of water and suddenly found himself standing in a quarter inch of water. The following morning, he and his wife call a plumber who tells them that the pipe busted because it was exposed to an exterior wall and froze during a cold snap. The plumber could place his hands on the frozen pipe to show the owners. The couple sent pictures of the pipe along with an explanation from their plumber to their insurance company. The response from the insurance company was: Based on the photos, this appears to be normal wear and tear. That's when the couple contacted an attorney to say, "My insurance claim was denied. What can I do?"
Not All Insurance is Created Equal
The first thing to note here is that there are many different types of insurance policies and they can vary greatly from one policy to another. Typically an insurance policy for your home will cover damage to your home, your property inside the structure, and some form of liability coverage in case you are sued. However, as stated, policies vary greatly from one to another, especially from one state to another. Depending on where you live and what options you select, you may find yourself with inadequate coverage and facing the same status of "My insurance claim was denied."
There's no doubt that there are times when insurance companies will misinterpret policies and claims to minimize the number of claims they have to pay. In fact, there are times they just outright refuse to pay as in the circumstance above. That's when you need an attorney to get involved. We understand that these types of claims can have an enormous financial impact and more. If you cannot afford to fix a home that has suffered a catastrophic event, you could lose the security of a safe living environment.
How We Can Help:
If you find yourself in a situation where your insurance claim was denied or your insurer undervalued your claim, you have recourse. Simply fill out the form on the right for a free consultation and we'll be glad to review your circumstances and tell you how we think we can help. You can also dial 513-444-4444 and speak to someone immediately.