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Case Study: Water Damage and Insurance Complications in Davie, Florida

When you examine the rising rates of insurance policies in the Florida and across the U.S., many homeowners worry about potential rate hikes and what will happen if they actually need to file a claim. Many people think that if you avoid filing claims and don’t miss payments to your insurance company, everything is under control. That’s not necessarily the case.

Unfortunately, there are other elements at play over which you might not have control, and that you may not immediately think of when it comes to your insurance rates. Warren C. in Davie, Florida learned that lesson firsthand when he went to file a homeowners’ insurance claim for water damage and found that his policy terms had changed.

Although Warren believed he was on top of all of his payments, he didn’t consider that the company in charge of his mortgage payments might not be. When his mortgage company missed a payment to the bank, Warren’s insurance company dropped his policy, which the bank then took charge of by adding the cost to his loan payments.

“Force-placed” insurance is a lender’s way of ensuring you have the required level of hazard coverage for your home. Unfortunately, it also means that your lender is in charge of your insurance policy and coverage. Navigating an insurance claim under these circumstances can involve a different, much more difficult process.

Get the Most Out of Your Coverage

Like most claims, Warren’s involved water damage he needed to address as quickly as possible. When he found out just how challenging his situation was going to be, he called a public adjuster to get additional help and fair compensation. Initially, the claims adjuster offered Warren $10,000 for repairs caused by a refrigerator line pipe.

After consulting with Advocate Claims, a second assessment resulted in Warren’s payment being more than tripled — to about $33,000.

Why is a claim like this so difficult to accomplish in the first place? It has to do with the frequency of water-related claims. They are by far the most common, which makes south Florida insurance companies less willing to cover them. If you are unsure of the value of your home’s damage and the insurance claims process, you are likely to receive a low initial estimate.

If your home has experienced water or other types of damage, or you have found that your insurance situation is more complex than you initially thought, call a public adjuster. Your claim will be handled appropriately and you’ll be provided with a clear understanding of the entire process — from start to finish.

Advocate Claims Public Adjusters works with home insurance claims and business claims in Fort Lauderdale, West Palm Beach, Boca Raton, Davie, Plantation, Delray Beach, Hollywood and the rest of Florida. Call us today at 1-954-369-0573 or contact us online.

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