Owners of houses, condos and commercial buildings purchase property insurance to protect their financial investment from violent acts of destruction, such as hurricanes, flooding, tornadoes, sink holes and fire.
As long as the policyholder honors their end of the legal agreement, the insurance company is bound by Florida law to honor their part of the policy as well.
When insurance companies fail to meet their obligation to customers with legitimate property damage claims, it is known as insurance bad faith.
If you have a legitimate property damage claim that has been denied by your insurance company, you have legal rights.
For over 25 years, the law firm of Lutz, Bobo & Telfair, P.A. has battled insurance companies throughout Florida for denying legitimate insurance claims or offering to pay less than the actual damage suffered by the victim. If you have a property insurance claim that has been denied or undervalued by your insurance company, we may be able to help.
Bad Faith Insurance Practice Areas
Am I required to purchase homeowner’s insurance in Florida?
Florida law does not require a homeowner to carry homeowner’s insurance. However, if you have a mortgage on your property, your mortgage lender will most likely require you to carry certain levels of coverage.
How much homeowner’s insurance should I purchase?
This is an area where most homeowners get themselves into trouble. It is a mistake to base your insurance coverage based on the price you paid for the home, the property tax appraiser’s estimate or the amount set by your insurance agent. In reality, you should purchase enough insurance to cover rebuilding your home at today’s prices.
For instance, if your home is 10 years old, more than likely it will cost more in materials and labor to rebuild your home. In addition, updates to building codes may make rebuilding or repairing your home more costly.
If you have underinsured your property and suffer a loss, you may not receive the full value of the claim from your insurance provider.
What are common reasons for property claims to be denied?
Our law firm has seen a multitude of reasons used by property insurance companies to deny claims. These are the most common: