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Insurance Coverage Archives

Rebuilding After a House Fire: Homeowners Insurance Claims and More

Recently, a house fire erupted in Immokalee, leaving two families homeless. The fire department arrived to find a home engulfed in flames. They determined the point of origin of the fire to be a bedroom window where an air conditioning unit was installed. Though the fire department responded quickly, the flames destroyed the home. Two families who were jointly residing in the home are now struggling to determine how they can repair the damage done. Unfortunately, our Miami Homeowners' Insurance lawyers have to report that the family lacked homeowners' insurance at the time of the fire.

Replacement Cost Coverage versus Actual Cash Value Coverage

Homeowners will often not understand the difference between replacement cost coverage and actual cash value coverage. Both of these terms are used to describe the insurance coverage that will cover you in the event your property is damaged or stolen. However, the amount of coverage you receive will depend in large part on whether you have replacement cost coverage or actual cash coverage.

Selecting the Best Attorney for Your Homeowners' Insurance Matters

If your claim has been denied or if you are involved in any sort of homeowners' insurance related dispute, it is imperative that you select the right attorney to represent your interests. Your attorney could make the difference between obtaining the compensation you deserve and struggling to cover the costs of the repairs needed to your home.

The Different Types of Homeowners' Insurance in Florida

Homeowners' insurance is a type of property insurance that covers damage to your home, the contents, and inhabitants. Most homeowners elect to obtain homeowners' insurance coverage so that their home is protected in the event of a disaster. Some banks additionally require homeowners to obtain insurance before they will finance a mortgage.

Hurricane Insurance FAQ's

Hurricane season will soon be over and thankfully South Florida managed to avoid any major storms this season, despite one scare. Although hurricane season will hopefully end without incident this year, it is important that all South Florida homeowners inform themselves as to hurricane insurance coverage so that they can make the best possible decision when it comes to obtaining coverage for the new year. Our Miami hurricane damage claim lawyers have provided the most frequently asked questions concerning hurricane insurance, intended to provide you with some important facts about this vital insurance coverage.

Florida Approves Citizens Insurance Rate Hikes for 2016

Recently, the Florida Office of Insurance Regulation has approved the proposed 2016 property insurance rates for Citizens Property Insurance Corp. The order was signed September 8 by the Florida Commissioner. The order includes significant rate hikes for South Florida homeowners who rely on Citizens Property Insurance to cover their homes in the event of wind and other damage.

You Faithfully Paid Your Premiums, Now Your Homeowners' Insurance Policy Has Been Denied or Delayed: What Should You Do?

You have timely paid your premiums for months or even years when suddenly your home is damaged, perhaps by a fire, storm, flood, burglary, or other man made or natural disaster. Believing your home's damage will be covered, you file your homeowners' insurance claim. However, you receive no response on your claim or it is outright denied. Having your claim delayed or denied is devastating for homeowners anxiously awaiting coverage for the repairs needed on their home. If your claim has been delayed or denied, rest assured that not all hope is lost and you may still be able to obtain the homeowners' insurance coverage you deserve. Our Miami homeowners' insurance lawyers offer the following look at what you should do in the event your homeowners' insurance claim is delayed or denied.

Lightning Strikes and Homeowners' Insurance

Nationwide Insurance reports that there are over 20 million lightning strikes across the United States. Florida is the lightning capital of the world and home to a high percentage of such strikes. Each lightning strike can carry over 100,000 volts of power and a strike can result in significant damage, even far away from the point of impact. As a result, hundreds of thousands of insurance claims are filed each year due to lightning strikes. Our Miami property insurance claim lawyers find that average claims can total over $4,000 dollars, with some ranging far higher and these claims cost the insurance company more than $1 billion in losses.

Bad Faith and Homeowners' Insurance

Your Florida homeowners' insurance policy is a contract. As such, all the basic rules of contract law apply and are in full force when it comes to homeowners' insurance. This includes the duties of good faith and fair dealing, which is implied in all contracts. The covenant of good faith and fair dealings automatically exists in all contracts by operation of contract law. If this duty is breached, the policy holder may have a valid tort claim against the insurer for breach of the contract and the damages that have resulted.

Do You Know What Your Homeowners' Insurance Covers?

All too often, Florida homeowners who have faithfully paid their premiums for decades find themselves in the position of having their homeowners' insurance claim denied or minimized. Part of the reason why insurers think they can get away with denying or underpaying claims is because few home owners fully understand what their policy covers. You may in fact be surprised by what your policy covers and excludes. One of the biggest misconceptions is that homeowners' insurance only covers structural damage. Generally, it covers far more than this. Here are some examples of things that you may not be aware your policy could cover: