USA- According to CBSnews.com, Hurricane Florence cost insurers around $10 billion. However, the coverage will likely be lacking for many hard-hit Carolinians. Estimates indicate that there could be as many as one million property owners in the Carolinas who have no flood insurance and who will not be able to collect the funds needed to rebuild following the damage that occurred to their homes.
For people whose property was damaged in storms, it is important to read the insurance policy and determine what is included in their coverage. Keeping track of people spoken to through the company and the claim number will avoid later headaches. Also, many policies cover “additional living expenses,” which cover things like lodging and food, but insured persons will need to have receipts to document these costs. Of course, everyone should take photographs of the damage as soon as possible.
Insurance companies often will have their own sources of information about the damage caused by a disaster. Companies may even fly aircraft or drones over the worst struck areas before the natural disaster even ends.
Adjusters are often sent out to damaged properties to make their own assessments. These assessors may be independent and may not. In some situations, these individuals are under pressure to minimize the damage done to an insured piece of property.
When insurance companies attempt to offer too low of a payout on a policy, it is possible to appeal the decision. If the company still refuses to make a fair payment, then complaints can be made with the state insurance department.
Homeowners are encouraged to work together to fight insurance companies that refuse to make fair payments. Fighting a big corporation alone can be daunting, and there is strength in numbers.
