Hurricane Damage, Here's What You Should Know Before Filing a Claim
If you’ve lived in Florida for any amount of time, then you know how damaging hurricanes can be. They can destroy your home and devastate entire communities. Many homeowner’s insurance carriers cover hurricane damage, but it’s helpful to know what else your coverage includes to reduce your chances of having a problem with your claim.
Understanding Your Hurricane Coverage
Many policies don’t include flood damage as part of the coverage. A claim adjuster will examine the damage on your property to confirm it was caused by the hurricane. Since each insurance company is different, you may need to examine your policy for some keywords that could affect your claim.
It’s essential to know which perils your policy covers. Perils include water, wind, and fire, amongst other things that can cause property damage. Check to see if your policy is All Risks. These are also known as Open Perils or Named Perils policies, and may limit their coverage.
RCV vs. AVC
Does your policy calculate damage based on actual cash value or replacement cost value? Knowing which one will help you understand what to expect when it comes to a payout. Replacement cost means the insurer will not factor in depreciation of the damaged property. You’ll get the full amount when it comes to replacing or repairing the damage, minus your deductible. Actual cash value factors in depreciation and your deductible, and both are subtracted from the replacement value. You’ll get the remainder as your payout.
Do you know what your deductible is? This is how much you’ll pay out of pocket for repairs. Most insurance companies want to see you’ve paid your deductible before sending you the rest of the payment.
Does your policy have exclusions? Some policies may exclude certain types of damage from a hurricane. That means if any of these perils damage your property, you’ll be left with no coverage.
Hurricane Damage – Now what?
Hurricane damage can lead to a host of other problems like mold and mildew. In turn, these can lead to health problems. If your property incurs hurricane damage, you must take measures to prevent more damage from occurring. Louis Law Group is a team of experienced litigators that specializes in hurricane damage insurance claims. You don’t have to be alone in your struggle. We can help you every step of the way.
As Florida’s most trusted hurricane damage lawyer, we will help you navigate the entire claim process. We’ll also ensure that you can return to normal so you can live your life again. If you’ve filed a claim and it’s been denied, or your insurance company is limiting your coverage, give us a call at (954) 676-4179 or use contact form here. We’ll be happy to discuss your situation and guide you on your next steps.