Homeowners Insurance Lawyers in Louisiana
A home is a huge investment, so you protect it with insurance to cover events like fire, flooding, storms, hurricanes, hail, and burglary.
You dutifully pay insurance premiums and expect your insurance company to help you in your time of need.
However, insurance companies sometimes don’t come through on their end of the bargain.
They might even deny a valid claim to increase their profits.
Many New Orleans homeowners insurance companies assume that you won’t fight a denied claim. They may think they can intimidate you into giving up on the money you’re owed.
However, you can fight back. In fact, our purpose at The BFH Law Group is to help you challenge those who wrong you.
If your homeowner’s insurance in New Orleans has denied your insurance claim, give our Louisiana insurance lawyers a call or send us an online message.
To learn more about homeowners insurance in New Orleans, keep reading.
Types of Homeowner Insurance in New Orleans
When disputing an insurance claim denial, the first thing you should determine is what your policy covers. Read the insurance policy’s language carefully to understand its terms.
There are six basic types of homeowners insurance in New Orleans.
Basic Form
Basic Form policies cover specific perils like fire, lightning, windstorms, hail, smoke, vandalism, theft, damage from vehicles or aircraft, explosions, riots, and sinkhole collapse.
If a peril is not listed in the policy, it is not covered.
Broad Form
Broad Form policies cover named perils in Basic Form as well as additional problems like water damage, falling objects, and building collapse.
Special Form
Special Form policies cover your home for all perils not specifically excluded.
Special Form policies usually exclude perils like earth movements, acts of war, nuclear explosions, rupture of water pipes, mechanical wear, pollutants, and vermin.
They also provide protection for personal property with respect to named perils.
Comprehensive Form
Comprehensive Form policies cover all perils for both your home and your personal property that are not explicitly excluded.
Tenant Broad Form
Tenant Broad Form policies cover a tenant’s personal property only.
Special Condominium Form
Special Condominium Form policies cover personal property and the interior but not exterior of the condominium.
What to Do When You Suffer Property Damage
After you suffer property damage, you may feel surprised and unsure of how to safeguard and repair your home.
There are important steps you must take to prevent further damage and receive compensation under your New Orleans homeowners’ insurance policy.
This is especially important when it comes to weather events like Hurricane Laura.
File a Claim
First, you should file a claim with your insurance company.
Take notes of all conversations with your insurance company and keep all written documents.
Take Photos
Take photos of any damage, and write down your recollections of the incident that caused damage.
Mitigate Damage
Then you should perform repairs to prevent further damage. This might mean putting a tarp over holes in your roof or cutting off the water supply to a leaking pipe.
Don’t Throw Away Anything
Don’t throw away anything until the insurance company has inspected the property. An insurance appraiser needs to see your property damage before you throw away any ruined materials.
Don’t Put Yourself at Risk
If your home is uninhabitable due to flooding, electrical concerns, structural damage, or other life-threatening circumstances, don’t go inside. Contact the insurance company, and leave it to them to investigate the incident when there is an active risk.
Keep All Repair Receipts
When you start property repairs, keep all receipts and invoices. You can use these bills to get your New Orleans homeowner’s insurance company to reimburse you for repairs.
Call an Insurance Attorney
If your insurance company is not paying you what they owe or is causing unnecessary delays, contact an insurance attorney.
An experienced Louisiana home insurance lawyer is familiar with New Orleans homeowner’s insurance companies and knows how to address their claim denials and stall tactics.
Do You Need an Insurance Attorney?
If you aren’t getting the payment you need from your insurance company, an insurance attorney can help. At The BFH Law Group, our experienced lawyers put pressure on big insurance companies. We insist that insurance companies pay our clients according to the terms of their New Orleans homeowner’s insurance policy.
Contact us today or call for a complimentary consultation. We’ll review your case, look over your insurance policy, and advise you of your legal options.
While you focus on repair or rebuilding, we’ll negotiate with your insurance company for the maximum settlement available under the law.
Homeowner’s Insurance Claims
A property insurance claim can be a devastating and life-altering event for a policyholder, but for an insurer, it is routine business.
An insurance claim is a business negotiation, and policyholders must approach the adjustment and settlement of their property insurance claim as they would any other business transaction involving a large investment.
Few homeowners would risk the value of their home without substantial research and strict oversight, and an insurance claim should be treated no differently. A residential property claim involves restoring or replacing the property – both the structure and the personal property inside the dwelling – to pre-loss conditions within the limits of insurance purchased.
Policyholders are faced with the tasks of investigating and documenting losses and learning the terms and conditions of insurance policies: the insurance coverages available, limitations on those coverages, deductibles, conditions precedent, and specific requirements necessary to make an insurance claim.
Typical residential property insurance policies offer:
“Ordinance” or “Law” which provides coverage—typically a percentage of the policy limits—in the event that building codes, enacted after a structure was built, require additional features not contained in the covered structure at the time of loss. Policyholders who purchase replacement cost coverage may expect that upgrades required by law are included in the coverage purchased, but some policies exclude these increased costs of repair.
“Additional Living Expense” pays the costs of living in a temporary location if a covered loss makes the damaged home unlivable. This could include hotel bills, rent, and other increased costs of living incurred while the home is being repaired or rebuilt. These benefits are usually subject to both time and monetary limitations.
If only part of a structure or its contents is to be repaired or replaced, issues arise if the repaired portion cannot blend with the remaining undamaged property. If repairs are obvious, they may diminish a property’s value. Although language varies with each particular policy, policyholders may have the right to demand that covered property is restored to a seamless pre-loss condition.
Be aware of who the insurance company sends to assess your property insurance claim.
Insurance companies should be sending licensed insurance adjusters to your property; however, sometimes the first responders sent to assess the damage are not qualified. It is important to ask the person who visits your property for a business card, and it should state a first and last name and all license numbers (they should be licensed with the state). Another smart procedure is to write down the name and specific purpose of everyone who visits your property.
While it is common to be in a state of distress, you must be attentive and careful when signing any documents. Cooperating with insurance companies is a part of all policies, and you must think about who has your best interests in mind. The representatives are there to assess coverage for your loss, but they are working for the insurance company, not the policyholder.
In most states, you have the right to hire your own adjuster who can help you understand all the information surrounding your policy and claim, as well as negotiate with the insurance company.
Need More Information?
If your property insurance claim has been denied, delayed or underpaid, contact The BFH Law Group, LLC today for a free consultation.