The Challenges with Insurance
The costliest hurricane on record in Louisiana was Hurricane Katrina, according to the Insurance Information Institute. When all was said and done, Katrina caused nearly $25.4 billion in insured losses, and that is not counting the flood damage that was covered under the federal government’s flood insurance program.
That is a massive amount of money for insurance companies to be paying out. Those who lived through Katrina thought that was a once in a lifetime weather event. Then came Hurricane Harvey, one of the costliest storms to hit the Atlantic basin. This year alone, the state of Louisiana has faced numerous storms, some right on the heels of another. Already we have seen Hurricane Laura batter the state, followed quickly by Hurricanes Delta and Zeta, giving residents little to no time to recover.
The problem becomes clear – storms are expensive, and multiple storms are even more expensive. Who has to pay for the damage? Insurance companies, but by extension, you. Insurance companies are for-profit entities. They are in the business or making and keeping money. Paying out massive settlements for storm damage, especially in active years, significantly cuts into their profit margins.
To help counter those losses, some insurance companies may use tactics to avoid paying claims out in full. Insurance adjusters have multiple ways of going about short-changing customers on their claims and taking advantage of a claimant’s vulnerability or lack of knowledge about their homeowners’ policy.
Why You Need an Attorney Working on Your Claim
Navigating the insurance claim process following a hurricane can be confusing, frustrating, and time-consuming. While you are hemorrhaging money and trying to stay afloat, the insurance company may be investigating and looking for ways to avoid paying you the total amount you could be owed on your claim.
Even local news organizations have been reporting on the overwhelming number of complaints that are being filed by home and business owners to the Louisiana Department of Insurance in connection with insurance companies and their handling of claims from Hurricane Laura and Delta.
What can you do to fight back against these practices and make sure you are getting the money you deserve following a hurricane? Hire an experienced lawyer. An attorney can help you navigate the complicated process of filing a claim, help you gather materials and paperwork to strengthen your claim, and negotiate on your behalf to help get you the money you are entitled to.
Unfortunately, insurance companies may feel like they can get away with taking advantage of your post-storm devastation. With an attorney at the negotiating table, an insurance company knows it can’t get away with those same tactics. What’s more, if a company is unwilling to negotiate in good faith, an attorney will be prepared to take them to court.
