According to the Sun Sentinel, three of every five homes in America are underinsured by an average of 20 percent. This ultimately suggests that you, the homeowner, would be responsible for fire, tornado, hurricane or any other disaster damage, not the insurance company.
To prevent this risk, it is imperative to review your insurance policy and ensure that your home has the correct amount of coverage. The policy review should check for two issues, the chance your home may not have enough coverage or the chance you may be overpaying for too much coverage.
If you find that you are a victim of these issues, you have two options. The first is to completely cancel your current policy and start a new one with a different company. The second is to consider modifying your current coverage.
However, a policy modification could bring about a few issues. If you attempt to change it before the term expires, the insurance company may not be so willing to let you modify certain elements of the coverage such as the hurricane deductible or personal property coverage limits.
Another possible modification issue could arise amid hurricane season. Insurers will typically only allow changes as long as a named storm is not targeting your state. However, if your state falls under the cone, a new policy may not be written for several weeks after the storm has passed.
If you run in to any of the issues above, don’t worry. We at Insurance Litigation Group are ready to assist you if your home sustains damage from any type of disaster.
Our team of adjusters has extensive knowledge in the field of insurance law. We can ensure that your insurance company provides you with full and fair benefits, not too much coverage or not enough of it.
Our experienced adjusters can handle roof damage, roof leak, pipe burst, plumbing backup, water damage, wind damage, mold, smoke-fire damage, lightning, hail, flood, theft, vandalism, or construction defects. We will help you determine what you are owed under your policy and will advocate on your behalf.
Don’t hesitate and contact us today for a free consultation in Florida.
