Debunking Common Misconceptions About Property Damage Insurance Claims
In the aftermath of a destructive storm or another calamity, dealing with property damage insurance claims can often feel like navigating a complex labyrinth. There are numerous misconceptions that can complicate the process further, potentially causing significant financial and emotional stress while insurance policies can often be complex and confusing, leading to various misconceptions, especially when it comes to property damage claims.
At Palker Law Firm, we specialize in insurance claims and understand how important it is for property owners to navigate this process accurately. In this blog post, we’ll address some common misconceptions about property damage insurance claims and provide some clarity.
1. Misconception: I have to accept the first settlement offer from my insurance company.
Truth: It’s crucial to understand that you’re not obligated to accept the initial settlement offer from your insurer. These first offers are often less than what you may need to cover all repairs and losses. You have the right to negotiate for a fair settlement that reflects the true extent of your damages.
2. Misconception: Making a claim will automatically increase my premiums.
Truth: While it’s common to fear that filing a claim will increase your insurance premiums, this is not always the case. Many factors determine premium rates, including the number of claims filed by neighboring residents in your area. You may very well find yourself in a situation where your premiums are increased without ever filing a claim with your carrier. Not filing a claim because you’re worried about a premium increase isn’t a prudent reason to let your insurance company off the hook for damages that they should cover.
3. Misconception: My insurance policy covers all types of property damage.
Truth: Not all types of property damage are covered under standard insurance policies. Common exclusions often include certain natural disasters like floods or earthquakes. It’s essential to understand your policy in detail and consider additional coverage if necessary.
4. Misconception: I don’t need to hire a lawyer to handle my property damage claim.
Truth: When your car needs to be fixed, you call a mechanic. When you have a major leak, you call a plumber. True, you can do these yourself, but there are certain things you should let a professional handle. Handling your own property damage claim and trying to DYI your negotiations with your carrier can be a recipe for disaster with you potentially doing more damage to your case than anything else. Having an experienced storm damage lawyer by your side can be hugely beneficial. They can help you understand your policy, guide you through the claims process, and negotiate with the insurance company on your behalf to ensure you receive the compensation you deserve.
5. Misconception: A Lawyer is too Expensive to Hire; They’ll Just Take All of My Claim Money
Truth: One of the most prevalent misconceptions is that hiring a lawyer for a property damage insurance claim is prohibitively expensive. This misunderstanding could cause many homeowners to shy away from seeking professional help, fearing that the lawyer’s fees would eat into their insurance settlement.
At Palker Law Firm, we operate on a contingency fee basis. This means that our clients never pay anything out-of-pocket, and in the rare event that we do not recover, our clients owe us nothing.
Even though we do receive a portion of the insurance claim payout, our main objective is to ensure you receive the maximum compensation available under Texas law. To make this happen, we don’t just demand damages for your property; we also include separate damages that you may be owed under Texas law as well as our attorney’s fees in the claim.
We do everything in our power to ensure that your portion of the insurance recovery is enough to completely fix the damages to your property. Our extensive experience and thorough understanding of the insurance claims process allow us to effectively fight for your rights and aim for a fair and adequate settlement.
Hire The Storm Damage Claim Lawyers at Palker Law Firm Today
By understanding these misconceptions about property damage insurance claims, you can better navigate the complex process of filing a claim and ensure you’re adequately compensated for your losses. If you need help with your insurance claim, don’t hesitate to contact Palker Law Firm. We’re here 24/7 to help you every step of the way.