Being a homeowner is a great pleasure, but it comes with a great many responsibilities as well. A home is typically the biggest investment that any individual will make in their life, and it’s important to protect this investment and ensure it pays off.
Often, this means getting insurance to help prevent various risk factors. However, what should you do if your insurance company won’t pay after your home undergoes a damaging event? All of a sudden, you can be out on the ropes, figuring out how best to scrape by financially.
How best you can deal with the startling reality of claim denial? Read on and we’ll walk you through what you need to know.
Should I Sue My Insurance Company?
You took out a home insurance policy with the expectation that should your home get into trouble, you would have the policy to fall back on. If your home has experienced a disaster and that cash doesn’t come through, it can feel devastating – and just plain wrong.
Many people consider bringing a lawsuit against their insurance company when a claim like this is denied. Whether this is something you should consider or not will be dependent on how and why your insurance company denied your claim.
An insurance company will have many reasons to deny a claim. Some will be legally legitimate, and others will not.
They might argue that the damages your home has faced are not covered by your policy, to which you’ll need to look at the fine print. They may also be able to claim that you either failed to apply or make a claim in the proper manner, which could impact your eligibility for payment.
There is a chance that you could’ve made a mistake that would give this company a reasonable right to deny your claim.
However, they also might be acting in bad faith, using confusing policy jargon to obscure the fact that they simply do not want to pay out.
You will want to speak to an experienced attorney about your case and get a sense of your rights and where you stand with your claim.
What Does a Bad Faith Lawsuit Look Like?
If you sit down with an attorney and they do believe that you have a case, you’ll proceed with a lawsuit intended to get you the compensation that you deserve.
It’s important to have a sense of what to expect from this often-complicated legal process.
Your attorney will help you to gather all the information that you need to make a compelling case against the insurance company.
This will include evidence that supports your claims of damage against the home and connections to your policy coverage that proves that these damages should be taken care of.
If the insurance company is found guilty, you might even be awarded additional punitive damages.
Insurance Company Won’t Pay From Policy
If your insurance company won’t pay out the policy you’ve taken out from them, it can put you into a difficult and frustrating position. It’s important to understand what steps to take after this kind of incident.
Need more help determining and defending covered damages? Keep scrolling our blog for more insurance advice and information.