Homeowners insurance is multi-faceted and complex. When you purchase homeowners insurance it looks like it covers everything – there are so many listed coverages such as residence/building, other structures, personal property, additional living expenses, liability, etc. However, what you need to be concerned about isn’t what you see – it’s what you don’t see, and what you can’t possibly expect.
The biggest problem with homeowners policies is that they are riddled with exclusions you are not aware of until after you experience a loss. To make matters worse, your insurance company makes extra effort to apply as many exclusions as they can – even the ones that don’t make sense – or are straight up illegal.
The next problem is that even when your insurer agrees you are covered, they pay as little as possible. With homeowners insurance in particular, most of us are vulnerable because we know very little about how much building materials cost or what the rules are regarding Actual Cash Value, Replacement Cost, and Depreciation. It can take years of research and study to fully understand all the terminology, procedures, and laws applicable to your insurance claim.
At Defever Law we are well-versed in spotting where you are being shorted, explaining your legal rights, and creating a personalized strategy for your maximum recovery. Most importantly, we will advise you on whether your issue can be solved through the negotiations of a Public Insurance Adjuster or will require the legally-trained knowledge of an Insurance Lawyer.
Renters insurance is very similar to Homeowners Insurance, only minus the building coverage. The major issues in a Renters Insurance Claim are the recovery of sufficient Additional Living Expenses and the proper calculation of the value of your personal belongings. Insurance companies leave you with the burden to show what you lost in the fire or flood, and even after you’ve completed that mammoth task, they argue about how much your items were worth at the time of loss (their Actual Cash Value) and how much it will cost to replace them today (their Replacement Cost).* At Defever Law we can help relieve your burden, whether you need the assistance of a licensed Public Insurance Adjuster or the extra expertise of a licensed Insurance Attorney.
*What your insurer argues about, specifically, will vary depending on the state you reside in.