In the aftermath of Hurricane Ian, property owners all across Florida will need to assess the impact of the recent storm. Insurance claims will likely follow a discovery of significant damage to your home.
Concerns about stress on the Florida insurance system and complications for homeowners who need coverage to perform repairs have dominated the media in recent days. What do homeowners need to know if they have property damage issues from the hurricane?
Different coverage may apply based on the type of damage
The average homeowner’s insurance policy won’t cover flood damage, but it will cover wind damage. If water incursion damaged your property and will necessitate tens of thousands of dollars in repairs, your homeowner’s insurance policy may not provide you with reimbursement.
Instead, you may need to make a claim against your specialized flood coverage. On the other hand, if the water damage is the result of wind-driven rain, your homeowner’s insurance may cover the repair costs. Identifying the source of different issues will be important when making claims.
Timetables may be different after a major storm
Florida law imposes relatively strict standards on insurance providers. They typically need to make a decision on a claim within 90 days of receiving the necessary paperwork from the property owner they then need to issue a payment on the claim within 20 days of approving it.
Obviously, thousands of large claims coming in at once can strain an insurance company’s coffers. It may also push their infrastructure to the breaking point. The website or app used to submit claims might crash, and employees may have more claims to evaluate than time in the day, resulting in delays.
Some property owners might receive inappropriate claim denials that necessitate appeals and additional paperwork. Others may need help negotiating with the insurance company that likely hopes to limit how much it pays on their claim.
Connecting with professional support can make it easier for you to manage a complex homeowner’s insurance claim related to storm damage.