Austin Flood Insurance Lawyer
As hurricane victims have recently discovered, having adequate flood insurance is key to recouping losses suffered from a flood. During the course of a claim, many issues arise that can deny you an adequate settlement. There are precautions you can take when selecting a policy and filing a claim for the damage caused to your home and all of your belongings.
Choosing the Correct Policy
Create a detailed account of the value of the building and all of the contents in order to ascertain how much insurance is really needed. Once you determine the dollar amount of coverage, carefully read your policy to make sure it meets your expectations. Does the policy cover replacement cost or does it cover actual cash value? Actual cash value will take into account depreciation and may leave you with out-of-pocket expenses to replace or repair your property.
In Texas there are two types of coverages. All risk policies cover a broad range of loss and will list specific items that are exempt. Named peril policies cover only causes specifically named in the policy and can leave out areas of coverage that you may not have anticipated. These are just two examples of when the type of coverage you purchase can lead to substantially lower claim settlements
It is important for you to know the time you have to file your claim and any legal requirements the company must meet in order to assess and compensate you for your losses.
If you do not have specific insurance for flooding, hail and wind damage, mold remediation, and the back-up of sewers, you may not receive full compensation.
You need to think of everything before you file a formal damages claim, because once an award is issued by your insurance company or you sign a settlement agreement, it is unlikely that you will be able to come back for more money later. Damages should include:
- A thorough inventory with purchase receipts
- ID number on items
- Videotapes or photographs of items if possible
- Keep all documentation in a fireproof safe or lockbox
Your damages may include the loss of housing and you may be entitled to a lodging allowance until all repairs have been done.
You will likely have to negotiate with an insurance company for settlement of your claim. Never forget that the insurance company is your adversary.
You are seeking to maximize your claim amount, while insurance companies profit by minimizing claim amounts, or denying claims altogether. In addition, you will probably be negotiating with an experienced attorney.
Contact Zinda Law Group Now
If you have been the victim of the recent flooding across the State of Texas, it is critical that you retain the services of an experienced insurance attorney at the very beginning of the process. Zinda Law Group is a top-tier law firm that is held in high esteem by its clients. We have locations in Austin, San Antonio, Dallas, and Denver.
Our attorneys are passionate about justice for their clients, and they will spare no effort to ensure that you are fully compensated for your damages. Call 303-625-6745 to schedule a free initial consultation so that we can advise you of your rights and explore your options.