A new survey conducted by PolicyGenius reveals that while many Americans may believe that they understand their insurance policies, in fact, they do not, resulting in the mistaken belief that they are often the victims of bad faith insurance decisions. Unfortunately, this mistake could end up costing policyholders a fortune: Not only did the survey find that only four percent of policyholders were able to correctly define the terms that correlate their co-pays, but most individuals did not understand the basics when it comes to co-pays, deductibles, and out-of-pocket maximums, even though they were overly-confident of their understanding.

Unfortunately, not only are consumers overconfident about their own out-of-pocket costs, many aren’t confident at all when it comes to selecting the right insurance plan for their needs. This results in policyholders not only being at risk of choosing the wrong insurance plan, but also misunderstanding their exposure to charges when they receive treatment.

Thus, while many people may allege that their health insurance company is refusing to pay for treatments in bad faith, in reality, it is a misunderstanding of how deductibles and coinsurance works for particular procedures or tests that are behind the charges that consumers are so often frustrated by, and which are sometimes the subjects of bad faith insurance litigation. It is only logical, then, to apply this to other forms of insurance—such as motorist and homeowners insurance.

The Cause

Studies have found that this lack of knowledge can be directly attributed to people spending very little time selecting and signing up for the right health plan. Given that reading and comprehending any insurance plan can be overwhelming, time-consuming, and stressful, it’s no wonder that so few understand their insurance coverage in general. Many people simply seek out the same company or plan that a coworker or family member has in an effort to avoid the selection process altogether.

As health insurers work to improve their engagement with customers and the general public, the fact that only a small percentage of people understand the basics when it comes to out-of-pocket liability still remains a huge hurdle when it comes to resolving disputes between the insurer and insured.

Liability Coverage

When it comes to selecting an insurance plan—whether you are seeking to protect your home or health—comprehending the liability section is very important. This doesn’t just apply to individuals; businesses, for example, are covered under commercial general liability to protect them against the risks associated with running their business. When it comes to your policy, understanding the duty indemnify—i.e. the insurer’s duty to cover the insured’s legal liability up to the state policy limit—and the promise to defend—i.e. the insurer’s promise to hire legal counsel to defend the insured in any lawsuits—is extremely important in terms of ensuring that you, as the policyholder, have complied with the terms of the policy.

Experienced Attorneys Representing Insurance Companies

HD Law Partners represents insurance carriers where there are good faith disputes concerning coverage, liability, damages and related issues. Our Tampa insurance defense attorneys also provide legal representation in defending claims alleging insurance bad faith and plaintiffs seeking extra-contractual liability. Contact us today and find out how we can help.

Resources:

policygenius.com/health-insurance/learn/health-insurance-literacy-survey/

cnbc.com/2016/11/04/many-americans-dont-know-much-about-health-insurance–and-it-will-cost-them.html

Tags: Florida Homeowners Insurance Lawyer, Florida Homeowners Insurance Lawyers, Insurance Bad Faith Litigation, Insurance Coverage, Insurance Policy, Liability Coverage, Tampa Insurance Defense Attorney, Tampa Insurance Defense Attorneys
Posted in Homeowners Insurance, Insurance Defense | No Comments »

Anyone who’s lived in Florida knows that we go through a “state of emergency” from time to time, either due to heavy rains, tropical storms, hurricanes, or other natural disasters. When there are events which give rise to property damage, this will inevitably lead to insurance disputes, as upkeep and welfare issues arise with respect to all of the various types of damage these disasters can bring.

With the number of condominiums and homeowners associations on the rise in the Sunshine State, inevitably, questions come up concerning whose responsibility it is to ensure that property and people are protected when these disasters occur. In that respect, it can be helpful for association boards to make it clear to residents, beforehand, what their responsibilities are with respect to their authority under the law.

The Law in Florida

Homeowners and condominium associations are provided with a certain amount of powers and protections under Florida laws. For example, under the Florida Condominium Act, the board of administration—in response to damage caused by an event for which a state of emergency is declared—may partake in activities necessary to protect the health, safety, and welfare of the association and mitigate any further damage, such as conduct board meetings, name assistant officers, enter into agreements with local counties and municipalities and/or contracts for items or services, implement a disaster plan, require evacuation, and engage in other necessary activities to protect the property and its residents.

The association also has the irrevocable right of access to each unit during reasonable hours if this is necessary for the maintenance, repair, or replacement of any common elements or any portion of the unit which needs to be maintained by the association in order to prevent damage to the common elements or a unit.

Similarly, under state law, homeowners associations may institute, maintain, settle, or appeal actions or hearings on behalf of all members concerning matters of common interest to members, for example, the:

• common areas; roof or structural components of a building; and/or other improvements for which the association is responsible;
• mechanical, electrical, or plumbing elements serving an improvement or building for which the association is responsible;
• representations of the developer (with regard to any existing or proposed commonly used facility); and
• protesting ad valorem taxes on commonly used facilities.

The entity responsible for the operation of common areas may also adopt reasonable rules and regulations pertaining to the use of these areas and any recreational facilities within them.

Experienced Florida HOA/Condo/Property Management Lawyers

The Tampa & Orlando homeowners’ and condominium association attorneys at HD Law Partners provide knowledgeable, experienced legal representation you can count on, while ensuring that you receive the professional legal services you deserve. Whether it is overseeing the everyday maintenance and contracts for a particular property or group of properties, or working to resolve a dispute and ensure that a homeowners or condo association is protected, we are here to work for you. Contact us today.

Resource:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0718/0718.html

Tags: Florida Homeowners Insurance Lawyer, Florida Homeowners Insurance Lawyers, Florida Property Management Lawyer, Florida Property Management Lawyers, HOA, Insurance Disputes, Tampa Condominium Association Attorney, Tampa Condominium Association Attorneys
Posted in Homeowners Insurance | No Comments »

Florida is no stranger to hurricanes and storms, especially during the months of September and October. Unsurprisingly, Florida is also the third most expensive state for homeowners’ insurance coverage. According to Insurance.com, Florida’s average home insurance rate is nearly $1,338 higher than the national average.

Just because your homeowners’ insurance policy covers damages caused by a hurricane does not necessarily mean that your hurricane insurance claim will be successful. Since many homeowners do not understand how to navigate the insurance claims process and may deal with bad faith insurance practices, some of their mistakes may hurt their insurance claim.

5 Things Florida Homeowners Should Avoid When Filing a Hurricane Insurance Claim

There are certain things you, as a homeowner, should avoid in order to protect your legal rights and obtain the reimbursement you deserve as a homeowner whose property has been damaged or destroyed by a hurricane.

1. Throwing Away Damaged Items

While it may seem that all of your personal property and belongings have been totally destroyed by the hurricane, you may be surprised to find out that some of your property has not been damaged beyond repair.

As a homeowner, you must preserve as many items as possible. In fact, insurance companies require their policyholders to mitigate their damages and losses as much as possible. If you throw away damaged items, your insurer may undervalue your claim if they can prove that you failed to minimize the financial impact of the storm surge, wind damage, and flooding.

2. Not Contacting Your Insurance Company Right Away

You are required to notify your insurance company of the damage immediately. The sooner you report the damages to your insurer, the sooner their representative will arrive to assess your claim.

Failure to contact your insurance company right away may also give your insurer an excuse to deny your claim because you failed to comply with the “prompt notice” requirement.

3. Not Assessing the Full Extent of Damages

An insurance company representative must assess the full extent of damages caused by a hurricane. Unfortunately, some adjusters may intentionally fail to investigate the full extent of losses in order to reduce the value of your hurricane insurance claim.

If you do not agree with the insurer’s estimate of your damages, you may have a right to conduct an independent assessment. For this reason, it is important to be represented by a Tampa insurance attorney to document all the damages and protect the value of your insurance claim.

4. Accepting the Insurance Company’s Initial Settlement Offer

As a rule of thumb, initial settlement offers do not reflect a fair or reasonable settlement amount. After a hurricane, an insurance company will review hundreds or thousands of hurricane insurance claims in the shortest amount of time. Unfortunately, many insurers undervalue hurricane insurance claims in order to retain as much of their profits as possible.

You should not accept your insurance company’s settlement offer without consulting with a knowledgeable lawyer first. You have a right to dispute the insurer’s offer and submit a counter offer.

5. Trying to Navigate the Hurricane Insurance Claims Process on Your Own

Trying to handle your insurance claim without a skilled insurance law attorney on your side is one of the worst things you can do. It is important to hire an experienced insurance attorney to ensure that your hurricane insurance claim is handled in a fair manner and help you avoid mistakes during the hurricane insurance claims process. Contact our Tampa insurance lawyers at HD Law Partners to talk about your particular case. Schedule a free case review by calling at 813-964-7878 or filling out our contact form.

Resource:

insurance.com/home-and-renters-insurance/coverage/florida-homeowners-insurance

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Posted in Hurricane Insurance | No Comments »