The Benefits of Hiring an Insurance Claims Attorney Tampa
Recovering from a major loss, such as a house fire, theft, or storm or water damage, is rarely a painless experience. Insurance companies, intended to help in these situations, may tailor policies to ensure they can pay the least amount possible. Especially in a tough economy, many companies (those in the insurance industry included) place their financial needs ahead of the needs of consumers. The concept of insurance seems to exist for your protection, but when an insurance claim is initiated, any related interactions from thereon are business transactions. Simply put: as an insurance company pays out fewer claims, the total profit of the company rises. When is the original purpose of purchasing insurance to protect yourself and your family from financial losses, to whom can you turn?
What to Do if Your Claim is Denied
The language used in insurance policies is often intentionally arduous and confusing. This is done to either dishearten the insured from claiming due to perceived ignorance or misunderstanding or to define extremely specific conditions in order to minimize the risk of paying a claim. While the denial of a claim could make the situation seem futile, insurance companies are obligated to follow the same state and federal laws as other businesses. Because of the complicated nature of insurance policies, it is important that you fully understand your policy to understand why a claim may have been denied. An insurance claims attorney Tampa will only be able to assist you with your claim if your insurance company has truly committed a wrongdoing. Most claims attorneys are knowledgeable and well-versed in insurance policy jargon and therefore can provide further understanding of your legal situation.
How an Attorney Can Settle Your Claim
If your insurance company delays payment of a claim without reason, cannot provide a rational explanation for why your claim was denied, or attempts to settle a claim by paying a low amount, an insurance claims attorney Tampa could help you prove that your insurance company could be acting in bad faith. Florida, like many states in the U.S., has implemented the Unfair Claim Settlement Practices Act to protect consumers. Florida regulations defines and prohibits unfair methods of competition as well as unfair and/or deceptive practices by insurance companies, such as purposely attempting to avoid payout on a valid claim or underpaying a claimant when the claimant is entitled to a higher sum. Florida law also defines penalties for violations of the Unfair Claim Settlement Practices Act. Violations of the law due to unfair and/or deceptive practices by insurance companies invoke a fine of up to $2,500 for unintentional violations and up to $20,000 for deliberate violations. If your case involves instances of bad faith, your insurance company could also be required to pay damages to the claimant, which can include expenses incurred, emotional distress, punitive damages, consequential damages, and attorney’s fees.
Hopefully, you will never be in a position in which you need the legal services of an insurance claims attorney Tampa, but in the event that you do, please give Hoag Law Firm a call at or complete your online Free Case Evaluation. A free consultation can help you understand your rights. With honest advice and an experienced attorney at your side, you can recover the largest possible settlement and get back to living your life.