Insurance Companies delay paying homeowner claims for Hurricane Ike so to wear you down. It has become a standard operating procedure for insurance companies to deny, delay and refuse claims of insurers.
Read moreThis is a checklist of steps you should take NOW to protect yourself, your family, and your business during the claims process. Take precautions to minimize any further harm to your home and property. The insurance companies call this “mitigation.” Cover roof damage with tarps, cover broken windows with plastic, and do whatever else is [...]
Read moreREPLACEMENT COST COVERAGE Replacement cost is what you would pay to rebuild or repair your home, based on current construction costs. It is not the market value of the house. It does not include the value of the land. ACTUAL CASH VALUE Actual cash value is the replacement cost of your property minus depreciation. The [...]
Read moreTexas homeowner’s insurance policies come in different forms, with different types of coverage. However, these different types of policies are standardized, and thus largely the same no matter which insurance company writes the policy. Basically, the standard homeowners’ policies cover the following: Building: Covers damage to the structure of the home and any unattached structures [...]
Read moreFlood insurance is sold separately from homeowners insurance. It protects you only from losses caused by flooding. Flood losses include prolonged rains, levee failures, and (most importantly in the wave of Ike) storm surge. In Galveston and on the Bolivar Peninsula, it is expected that most homeowner insurers will argue that the losses were caused [...]
Read moreInsurance companies MUST follow the following rules: PROMPTLY accept a claim when the need is reasonably clear. Acknowledge receipt of a claim, begin an investigation, and request all items, including the statements and forms they need. In most circumstances, this must be done within fifteen (15) days. Notify you in writing of the acceptance or [...]
Read moreInsurance companies CANNOT ENGAGE IN THE FOLLOWING BEHAVIOR: Put their own financial interests ahead of the finances or health of you, your family, or your business Knowingly hire dishonest or adversarial reviewers and investigators, who will be biased by their own financial gain or their attitudes toward home or business owners. Take shortcuts in their [...]
Read moreA Statute of Limitations is the time period in which a suit must be filed or else it is forever barred. You may still have time to file your Hurricane Ike claim, even though the September 13, 2010 two-year anniversary of the storm has passed. In Texas, many insurance companies try to shorten the statute [...]
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