What is the insurance company typically responsible for?
An insurance company is typically responsible for conducting a thorough investigation of your claim, adjusting your claim timely and compensating you for damages sustained directly as a result of the loss. Basically what that means is the insurance company should put your home back to its pre-loss condition.
Why do I need a lawyer at an examination under oath?
The insurance company will hire a lawyer to ask you specific questions about your loss at an examination under oath. It’s always advisable that you have an attorney there representing your interests and making sure that the insurance company’s lawyer isn’t asking you improper questions.
Should I take pictures of everything in my home?
Pictures are a great way to document your possessions and also the condition of your home prior to a loss. It’s strongly encouraged that you document this by taking photographs before, after and even during a loss.
What does the master condominium policy cover?
… The Master Condominium Policy covers from the drywall in each particular homeowners residence out, which includes things like the common elements. Things like stairwells, hallways, patios, porches, and roofs.
What is a reservation of rights letter?
It’s a letter the insurance company sends out which reserves its rights to deny your claim. It’s sent out before the insurance company has made a determination as to whether your claim is covered or not.
What may constitute fraud in the context of an insurance claim?
Fraud is an intentional misrepresentation, as opposed to a difference of opinion. For example, if you’re making a claim for some shoes that were destroyed in a fire. If you have a disagreement with the insurance company as to whether they are valued at $100 as opposed to $80, that’s a difference of opinion…. Read More »
Why does the insurance company want to take statements from my family members and friends? What should I tell them?
Different insurance policies have different provisions as to who can be questioned in relationship to a claim. If you have any questions in your policy as to who the insurance company is entitled to take statements from, you should contact an attorney.
Should I talk to the insurance company’s adjuster?
Yes, you should talk to the insurance company’s adjuster, and in fact most policies of insurance are going to require that you cooperate with the insurance company in their investigation of their claim. However you want to be careful about what you say and what you report back to the insurance company’s adjuster, knowing… Read More »
What happens if I cannot provide a receipt to the insurance company for an item that was damaged or stolen?
If for some reason you can’t provide a receipt, there’s other ways to prove that you own that item. There may be appraisals, there may be other proofs of purchase, even photographs or testimony evidence of it from other persons.
What is a sworn statement in proof of loss?
A sworn statement in proof of loss is usually a one-page document in which the property owner swears under oath as to what they believed caused the damage and how much it will cost to repair. It puts the insurance company on notice of what the homeowner’s opinion of the value of the repairs… Read More »