Dealing with your insurance carrier isn’t always easy. Sometimes they take too long to process a claim and other times they deny your submitted claim causing you to have to go back and forth with them. If you are currently struggling with your insurer, be it for medical, auto, or homeowner’s insurance, our dedicated Pennsylvania insurance claims lawyers can assist you in more ways than one.
The first thing you want to do is determine why this dispute has arisen in the first place. Is your insurer claiming you don’t have adequate coverage? Did they cancel your policy without notifying you? Did they provide you with a settlement offer that was far too low and didn’t sufficiently cover the costs you have incurred from the damage your home sustained or the medical bills you have acquired from treatment?
If so, here are a few tips the Pennsylvania Insurance Department suggests residents should know.
What Has Caused Your Dispute?
One thing many claimants fail to realize is that your insurance carrier looks at one of two numbers when they assess your damage and write you a check. Let’s use a homeowner’s insurance claim for instance. Depending on the coverage you have selected, you should be compensated based on one of the following:
- Replacement cost is the amount it would take to replace or rebuild your home or repair damages with materials of similar kind and quality without deducting for depreciation.
- Actual cash value is the replacement cost minus any depreciation (de- crease in the value due to age, wear and tear since the time the structure was built or purchased.)
Did You Receive a Cancellation Notice from Your Insurer?
If you received an unexpected cancellation notice from your insurance company and you still have some claims unpaid, you are going to want to:
- First contact your agent to obtain specific details regarding the action they have taken. Pennsylvania law allows companies to cancel or non-renew policies for specific reasons.
- If you still are not satisfied with your company’s explanation they have provided you with, submit your notice along with a statement detailing the reasons you disagree with the action to the Pennsylvania Insurance Department. The department must receive your statement within 10 days of your receipt of the notice.
What If I Don’t Agree with my Insurer’s Settlement Offer?
The Pennsylvania Insurance Department suggests you do the following:
- Contact your insurance company and request for specific details outlining why you were offered that amount and attempt to negotiate with your insurer.
- If a resolution isn’t made, you have the right to activate the appraisal clause of your policy. “By doing so, you agree to allow two independent appraisers, one on your behalf and one on behalf of the insurance company, to determine the amount of damages.”
If you find that your insurance agent and/or company isn’t willing to work with you after making several attempts to get your issue resolved, we then urge you to give us a call where you will be paired up with local Pennsylvania insurance claim dispute attorney. Not only can they look into the matter further but will devise a plan of action so that the outcome in your favor.