Living in Florida, it certainly makes sense to have flood insurance. You may get lucky and not face a serious storm or hurricane soon, but your luck probably won’t last forever.
Normally, homeowners and renters insurance policies won’t cover surges or floods. However, you can purchase a flood policy separately. Flood insurance averages at around $562 yearly. Of course, your rate may vary depending on if you are in a high-risk zone or not. Additionally, your property’s elevation and your home’s structure play a role in how much you will pay. All of that money goes for nothing, however, if the insurance company won’t pay a valid claim.
What should you do if your home floods and your claim is denied?
If you have purchased flood insurance and are having your claim denied despite the fact that it falls within your policy’s requirements, then you may be dealing with a bad-faith claim. Talk to the insurance agent to find out why your claim is being denied.
After you do that, review your original documentation. If you were promised certain benefits in your policy that you are not receiving, then you may want to speak with your attorney about making a claim against the insurance company. At the very least, your attorney can represent you when speaking with the insurance company, so that you have the best chance of getting the benefits you deserve.
Our website has more information on what to do if your home floods and your insurance won’t cover it. If you believe you have a bad-faith claim, then you may be able to work with your attorney to resolve the situation. Insurance companies need to be fair, and it is your right to understand your policy fully.