More than 130,000 Hurricane Michael claims have been filed and the estimated insured losses are over $4 billion according to numbers posted on the state Office of Insurance Regulation website. Some policyholders are already starting to see responses from insurance companies regarding the status of their claims, and many are not happy. Over 100 consumer complaints were filed in less than 30 days after the storm, and many of those are related to claim denials.
If you have already filed a claim for Hurricane Michael damage, or are just starting the process, here’s what you need to know right now:
1.Florida Statue – 90 Day Claim Notice
The date you file an insurance claim is very important. Florida Statue 627.70131(5)(a) requires insurance companies to pay or deny claims within 90 days of filing. If you have already filed a claim, pay special attention to the date you receive an approval or denial letter.
2. Don’t Settle For Less
Review the settlement amount immediately after you get the insurance claim offer. You may have options if the settlement does not cover the cost to repair all damages. The first step is to have your claim reviewed by a professional. Learn how we can help here.
Click here to learn more about low settlement offers.
3. Be Cautious About Signing Checks
Before you sign and deposit a check from your insurance company make sure it does not have release language. Some Florida insurance companies put language on the back of the check that indicates a full and final payment of the claim. If you cash the check and are unaware that this notice is there, it could mean no future payments will be made. If you are not sure whether you should accept payment for your claim, get professional help.
4. Claim Denial Notice
Receiving a notice that your Hurricane Michael claim is denied is stressful. Depending on the type of policy you have, the claim denial can be 100% wrong. To know for sure, have your claim reviewed by an experienced professional.
If you are getting ready to file or have already reported your claim, contacting Murray + Murray could help you avoid forfeiting insurance coverage rightfully yours. Contact us online or by calling 813-940-1500 for a free case review.