Problematic Payouts In First Party Insurance Claims
First party insurance claims are those claims placed by a policyholder. The insurance company is considered the second party; any additional claimant is considered the third party. An example of a first party insurance claim would be a case in which a homeowner has storm damage and makes a claim with his or her homeowner’s insurance company. In accordance with the policy’s coverage and exclusions, the insurance company generally has a legal responsibility to provide fair compensation within a reasonable amount of time without undue burden on the homeowner.
In some cases, insurance companies are less than adept at providing a sufficient payout in a timely manner, or may even try to deter or purposely reduce a payout amount on a claim. It is these types of scenarios in which legal assistance is often sought.
Also, as a homeowner may not know all of the legal intricacies involved in securing a fair claim amount, having legal representation can be useful. Some of the difficulties experienced by first party insurance claimants include:
• Failure of an insurance company to reply to a claim request
• Failure of an insurance company to provide consistent communication
• General delay tactics by an insurance company
• Failure of an insurance company to do a prompt, proper investigation of a claim
• Loss of paperwork, forms, photos, or other types of documentation provided by a claimant
• Being offered an unreasonable settlement amount
• Being tasked with providing exceptionally extensive and/or irrelevant information
• Receiving a claim payout for less than what was agreed upon
• Being treated in an unprofessional manner, including through the use of belittlement or intimidation
Reviewing an insurance company’s reputation prior to purchasing a policy can be a useful, though not guaranteed, approach to avoiding any potential future claim issues. It is also highly beneficial to read and understand any type of insurance policy prior to purchase. Having a clear understanding of policy exclusions in particular can help avoid problems later.
In the event you are experiencing insurance claim difficulties, meeting with an experienced Florida First Party Insurance Claim lawyer for an initial consultation is an important step. It is beneficial to research information about lawyers who specialize in first party insurance claims, or if possible, who specialize in the specific type of insurance claim involved.
Many lawyers and legal teams offer free initial consultations. At Mallard & Sharp, P.A., we specialize in Miami Florida First Party Insurance claims. To schedule a free initial consultation with our expert legal team call 877.662.5527 or 305.461.4800.