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Insurance claims in Florida

Insurance claims in Florida

Having insurance is very important to financially protect residential and commercial properties from loss or damage.

In this article we will talk about residential and commercial property damage or casualty insurance claims in Florida.

Let’s get started!

What will you find here?

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What are insurance claims?
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What is the process for a claim?
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What to do if the insurance company denied my claim?
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How do I make sure that the insurance pays me what is fair?
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Why do insurance premiums or rates go up in Florida?
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Most common insurance claims in Florida
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Exclusions in insurance policies

What are insurance claims?

Insurance claims are requests made by policyholders to their insurance company. These requests are intended for the insured (policy holder) to receive compensation for a loss or incident that is covered by their insurance policy.

Insurance policies are contracts between an individual and an insurance company. In this contract, the “Insured” individual agrees to pay monthly installments or premiums in exchange for having financial coverage on their property.

What is the process for a claim?

Each insurance policy must contemplate the procedure to follow to report a loss or accident. But this can certainly vary for each insurance company and is often complicated, so if you have one you can consult a Let Us Claim public adjuster.

“At Let Us Claim we are trained to orient, guide and represent the policy holder during the claim process.”

The policyholder or their representative must contact the insurance company to report the claim.

The insurance company will assign an insurance adjuster to assess the loss or damage to your property. The decision making of this insurance adjuster is usually in favor of the insurance companies. They will evaluate, take evidence and investigate the causes of the damage or loss; whether caused naturally, by negligence of the insured or by third parties.

After the evaluation of the insurance adjuster, the insurance company evaluates the causes of the damage and the coverages in your insurance policy. Because of this, you may receive compensation or a denial from the insurance company.

What to do if the insurance company denied my claim?

If you made a claim with the insurance company on your own and the insurance company sent you a denial letter for your claim, you can seek a second opinion. Let Us Claim Public Adjusters are a highly trained team to assess and reopen your claim.

How do I make sure that the insurance pays me what is fair?

By being represented by the public adjusters of Let Us Claim you can ensure that you will have a highly trained team and will fight for the highest possible compensation for your claim.

They will take care of evaluating your policy, inspecting and documenting the damage, making an estimate, contacting the insurance company and negotiating for fair compensation that covers the repair or replacement of the damage.

Why do insurance premiums or rates go up in Florida?

Insurance premiums or rates in Florida are on the rise, this can be caused by many factors.

Among them are:

– Natural events that cause an increase in the number of claims.

– Readjustments to rising property prices.

– Costs of construction materials, among others.

You also have to keep in mind that the premiums are related to the coverage of your insurance policy. Therefore, you should know that while your premium is cheaper, this will have more limitations and exclusions.

If you make a claim for damages or accidents caused by a natural event, this should not influence your insurance premium or rate, but equally if there is a general factor, the premiums of all the insured may rise.

Most common insurance claims in Florida

Insurance claims for roof damage are very common in Florida. This due to the bad weather that hits this area. Be it hail, gusts of wind, tornadoes, even hurricanes.

This roof damage can lead to other damages, such as roof leaks, causing water damage and mold.

Water damage insurance claims are also very common in Florida. These can be caused by broken pipes or plumbing. The most common places are the kitchen, the bathroom or the laundry room; even by the pipe of the air conditioners.

These types of damages are usually very serious and expensive, which is why it is advisable to have an insurance policy that covers all of your property in the event of an accident.

Exclusions in insurance policies

They are decisions corresponding to insurance companies, which exclude certain risks or can only exclude those risks when they occur under pre-established circumstances or conditions.

These exclusions indicate that the insurance will not apply coverage for damages mentioned therein or that have been caused by the conditions described above.

All insurance policies are unique; they may contain different characteristics and exclusions. This all depends on your area, type of home or business, date of construction, and many other factors.

Home fire insurance

Home fire insurance

Home fire insurance is one of the coverages that are always included in your insurance policy, but it is important that you have concrete details about it, you have to take into account if it is mandatory or how much it implies to have it.

In this article we are going to provide you with detailed information on how this type of coverage works and what fire damages it covers, in case of fire damage in your home.

What will you find here?

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Does my home insurance policy cover fire damage?
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What types of fire damage does my insurance policy cover?
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What about my valuables are also covered by the fire damage insurance policy?
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Is the home insurance policy effective in all fire cases?
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What to do after a fire in my home?

 

 

Does my home insurance policy cover fire damage?

In most cases it is mandatory for homeowners to take out a homeowner’s insurance policy with fire damage coverage, which covers the entire structure of your home. The only exception for the coverage to be extended to the ground or the exterior of the home is in the case of: explosions, sudden fires or extreme weather incidents (flood, earthquake, storm).

It is important that you keep in mind that it is mandatory to contract this type of insurance so that in extreme cases or fire damage you can make the pertinent claim to your company, with the support of one of our Let Us Claim public adjusters, and thus alleviate the burden of an arduous process.

What types of fire damage does my insurance policy cover?

When fire damage insurance is included in your policy, you become entitled to compensation when fire damage occurs, provided that the loss was unintentional.

This is a law that is present in the contract of your policy, there the company will specify in which cases the fire damage coverage does not apply:

Fire caused intentionally with the purpose of causing damage.
Fire caused by negligence of the owner or third parties for which the insured is responsible.

What about my valuables are also covered by the fire damage insurance policy?

No, valuables inside the home (jewelry, works of art, technological devices, etc.) must be covered by a different insurance policy, which is optionally added to the homeowner’s insurance to cover property damage.

Each insured person is free to estimate the value of the objects he/she wishes to be covered by the insurance and to choose the amount of compensation he/she wishes to receive in case of damage. This is a kind of “amount to be paid” in the homeowner’s policy. Our public adjusters at Let Us Claim will help you determine these types of additions to your home insurance policy and how to make a claim correctly, without so much confusion.

Insurance companies take into account the protection mechanisms or surveillance equipment you install in your home for fire damage in order to calculate the price of home insurance and valuables.

Is the home insurance policy effective in all fire cases?

As we have already mentioned before, those cases that have not been intentional will be insured. The insurance company will not cover fire damage caused by the insured party intentionally or due to gross negligence. It is very important to bear in mind that this clause is fundamental to avoid that the insured party himself may set fire to his home in order to receive compensation.

Before contracting the insurance, it is necessary to give a detailed reading to the clause on fire that it contains, because it is very fundamental that it includes the damage by fire or explosion, for that, if you already contracted an insurance company and you do not know which are its clauses, the public adjusters of Let Us Claim will help you to break down each one of them so that you have clear what type of home coverage you have and what damages it covers.

Check thoroughly if the fire damage insurance covers the real estate of the home related to fire, dust and smoke, also the most advisable is to check if the warranty proposed by the insurance company includes coverage for damage to electrical appliances.

For the rest of the damages, the insurance company will indemnify the damages produced by the fire when these have originated suddenly or have been caused by third parties intentionally.

What to do after a fire in my home?

If you suffered a fire or explosion in your home, you have 5 working days to notify the insurer of the loss. It is very necessary not to touch anything and leave the burned objects as they are. If necessary, make a photographic record of the fire damage and note down the objects that disappeared during the fire (as long as they are accredited by the insured party).

All these steps or tips are useful for the insurance company to calculate the indemnity.

The coverage of fire damage is one of the most important when you contract the insurance of your home, the name it carries is: multi-risk home insurance, but, as well as these, there are other essential coverages for the home such as: Civil liability insurance, damages to third parties and guarantee of theft to compensate for the damages produced by the same.

Home insurance policies have different functions and not all of them have the same coverages, but we can deal with that later in another article.