This year, Floridians have been blessed with a hurricane-free season. However, many policyholders with Citizens Property Insurance are finding that the state’s largest insurance provider is less than willing to provide compensation for water damage caused by factors other than flooding, including burst pipes. Because of this, there has been a surge in lawsuits against the company, resulting in Citizens spending more than $100 million in legal fees over the last two years.
Citizens CEO Barry Gilway insists the claims being filed are increasing because the firm is now a target, escalating the issue. However, attorneys and legislators have accused the company of stalling in order to avoid payments and force policyholders to file lawsuits to receive the compensation they need and deserve for south Florida water damage claims. Even before the lawsuits, the company was employing this stalling strategy so that it could show higher profits margins.
What does all of this say about Citizens Insurance? Not only are its typical processes unreliable and faulty, but they are also wasting the time and resources of the firm and the policyholders who are forced to sue to get compensation. Citizens is handling the claims of policyholders by forcing them to take outside action — and it seems that the company is not actually in the business of providing good insurance coverage.
But this issue is not limited to Citizens. When you call on your Florida insurance company to provide funds to repair the damage done to your property, you become a liability and a loss of profit. All insurance companies have this model, so it’s in their best interest to minimize the money paid to you for damage repairs.
This is one of the main reasons why public adjusters have become so valuable in South Florida. They get paid to get you what you need, their motivation is to find the most efficient way to file a successful claim. They understand the market and insurance industry, so they are able to effectively work with you to understand your policy and how you should move forward. Also, unlike the insurance claims process, you will be updated with the status of your case throughout the process so that you know exactly what to expect.
When you find you cannot rely on your Fort Lauderdale insurance company to properly file your claim, call a public adjuster.
Advocate Claims offers public adjuster services to home and building owners in Miami, Florida.
Give us a call today at 1-954-369-0573 or contact us online.