Some homeowners make the mistake of assuming that their home insurance protects them from anything and everything that could happen to their property. However, not only are there different levels of coverage available, but there’s no guarantee that the insurance company settlement will reflect what you think it should.
Insurance companies are very adept at wriggling out of making full payments, as they know legal ways to justify paying you less. Hiring an insurance lawyer can make a crucial difference during a vulnerable period. Here are three reasons why you should consider hiring one.
Calm, Confident Navigation
Filing the paperwork necessary for a large insurance settlement can be long and confusing, and embarking on this labyrinthine process right after suffering devastating home damage makes it extra challenging. You’ll want to get help navigating the process from an experienced professional who can get you safely and quickly to the other side.
Going through all the paperwork for a big insurance payout can be a real headache, especially when you’re already dealing with the stress of your home being wrecked. It’s like trying to navigate a maze blindfolded – not exactly a walk in the park.
That’s where insurance lawyers come in clutch supply. They’ve been around the block and know all the ins and outs of the process. They’ll make sure you’re dotting all your i’s and crossing all your t’s, so you don’t get slapped with any penalties for missing deadlines. Trust me, you don’t want to mess with the fine print – these lawyers have got your back.
Plus, they’ll keep you in the know every step of the way. No more feeling like you’re in the dark, wondering what’s going on with your claim. They’ll give it to you straight and guide you through the process like a pro.
Pushback Against Insurance Settlements
Now, here’s the thing – that first number the insurance company throws at you? It’s not set in stone. A lot of people don’t realize that and just take what they’re given. But not on an insurance lawyer’s watch!
These legal eagles know how to play the game and can often score you a higher payout than what the company was planning to fork over. In fact, a survey by the Insurance Research Council found that people who hired lawyers for their claims received an average of 3.5 times more money than those who didn’t. That’s a serious chunk of change!
If the insurance adjuster is trying to lowball you on the damage to your home or the value of your lost stuff, your lawyer will go to bat for you and make sure you get what you’re owed. They see that first number as a starting point, not the final word.
But here’s the key – you gotta document everything. Every little bit of damage, every lost item, every receipt. It’s a pain, but it’s worth it. Your lawyer will make sure you’re doing everything by the book to maximize your payout.
Insurance lawyers will make sure you do everything to fully document the damage and loss suffered so you get paid the rightful amount you’re owed.
No Dirty Tricks
Having an insurance lawyer by your side acts as a disincentive, as insurance companies are much less likely to try any underhanded, dirty tricks to escape paying a claimant their full due when they know you have a professional advocate on your case. It’s unfortunate that they view lone claimants as more vulnerable, but sometimes, they do.
Insurance lawyers are a deterrent, as insurance companies know they can’t get away with any tricks to sidestep full payments. As a result, the settlement process gets wrapped up quicker, and you get more money. If the company does try underhanded tactics, you’ll have the means to push back. But if they see you have an insurance lawyer, the process may go smoother without first trying these tactics they would otherwise rely on.
The Facts Don’t Lie
Let’s look at some hard facts. A study by the Consumer Federation of America found that people who hired lawyers for their insurance claims were more likely to be satisfied with the outcome than those who didn’t. In fact, 91% of people who used lawyers said they were satisfied, compared to just 61% of those who went it alone.
And get this – the same study found that people who hired lawyers received an average settlement of $17,000, while those who didn’t only got an average of $2,000. That’s a massive difference!
Case Study #1: The Hurricane Headache
Picture this: a hurricane rips through your town, leaving a trail of destruction in its wake. Your home is hit hard, with a damaged roof, broken windows, and flooding in the basement. You file a claim with your insurance company, thinking they’ll have your back. But then the lowball offers start rolling in.
That’s exactly what happened to John and Sarah, a couple from Florida. Their insurance company offered them a measly $10,000 to cover the damage, even though the repairs were estimated at over $50,000. They were devastated and didn’t know what to do.
Enter their insurance lawyer. He took one look at the case and knew something wasn’t right. He hired independent adjusters to assess the damage and gathered evidence to support John and Sarah’s claim. Long story short, he fought tooth and nail and got them a settlement of $75,000 – more than seven times the original offer!
Case Study #2: The Business Owner’s Nightmare
Now, imagine you’re a small business owner. You’ve poured your heart and soul into your shop, only to have a fire ravage it one night. You’re counting on your insurance to help you rebuild, but they’re giving you the runaround.
That’s the situation Maria found herself in. Her bakery had been reduced to ashes, and her insurance company was dragging its feet on her claim. They kept asking for more and more documentation, and Maria was drowning in paperwork.
Finally, she’d had enough. She called up an insurance lawyer and explained her situation. He jumped into action, taking over the paperwork and negotiations. He made sure Maria’s claim was airtight and pushed the insurance company to process it quickly. In the end, Maria got the full payout she was entitled to – and she was able to reopen her bakery in record time.
A report by the Insurance Information Institute found that insurance companies pay out an average of $1.22 for every dollar they collect in premiums. But when lawyers get involved, that number jumps to $1.53. That means lawyers are getting their clients an extra 31 cents on the dollar!
And it’s not just about the money. A study by the University of Nevada found that people who hired lawyers for their insurance claims were more likely to feel like they were treated fairly by their insurance company. In fact, 82% of people who used lawyers said they were satisfied with the claims process, compared to just 68% of those who didn’t.
Home insurance is supposed to give homeowners peace of mind so they feel confident that their home is safe against accidents and natural disasters. Sadly, it doesn’t always happen without an insurance lawyer, so consider hiring one to get the level of protection you deserve.
