Why Do Insurance Companies Underpay Claims?

You pay for property insurance in case an emergency happens and you need your home repaired. But things don’t always work out that way. Most people expect that when a storm or hurricane causes damage to their property, their insurance company will pay the claim and they won’t have to pay for the repairs out of pocket. After all, that’s why we have insurance in the first place.

Fire damage to your Florida Home or Business

Fire damage can be extensive. Your homeowners or business property damage insurance should cover you no matter how severe the fire damage. Your policy should allow you to restore or rebuild your property after the fire. It should also reimburse you for living expenses while your home is being repaired and restored. In addition, business property insurance usually covers lost business income.

When Your Florida Business Has Property Damage

Whenever we think about damage from hurricanes and other natural disasters, we usually think of damage done to property. But property damage insurance claims are more complicated for Florida business owners. Business property insurance covers damage done to both the structure and contents of the property and it also covers lost business income.

What to Consider When Renewing Your Homeowner’s Insurance Policy

Generally, homeowner’s insurance policies renew every year. Unfortunately, many home-owners fail to look at their policy and instead just pay the renewal bill. However, it is important to carefully go over your policy in case there are any major changes that may seriously affect your coverage. After all, your home is likely your largest investment.

What is an Assignment of Benefits?

If your home recently sustained damage covered by your insurance policy, you may be thinking about signing an Assignment of Benefits or AOB. While an AOB can be beneficial in some situations and can save you the hassle of dealing with insurers, it also has the potential to lead to further problems.