FAQs

Get Answers From The Law Firm That Has Recovered Hundreds of Millions From Insurance Carriers

Business owners are facing some of the worst circumstances the Gulf Coast has ever seen. Many of them were unprepared for disasters like Hurricane Hanna and the recent Dallas tornado and hail events, and now they’re facing an uncertain future due to significant wind and hail damage, tornado damage, business interruption, damaged equipment and more.

If you want to understand the claims process, learn about your options, or hold your insurance company accountable, call (346) 704-5295.

The first step to filing a property insurance claim is to notify your insurer of the damage. Review your policy for coverage and time limits on filing a claim. The insurer will open a claim and generate a claim number. This claim number will be used in all communication with the insurer. Remember that you have a duty to protect the property from further damage while you are progressing through the claim process. Next, your insurer will send a claims adjuster to your property to review the loss and generate a formal estimate of your damages. Be cautious when accepting any initial offers if they require you to waive your rights to re-open the claim if further damage is later found. Insurance is a business and the claims adjuster is there on behalf of the insurance company. They are not there to advocate for you. Insurance companies are profit-making businesses.

If you are able to resolve your claim, the insurer will issue a check for repairs. If you have a mortgage on your property, your insurer will generally issue checks payable to both you and the mortgage holder (if they are named in the policy).

If you are unable to resolve your claim, it may be time to call in qualified professionals, like Lundquist Law Firm, to help you get the funds you need to put your commercial property back to the same condition it was in before the damage occurred.

It’s a common tactic for insurance companies to delay or deny your claim on a first attempt. They’re hoping that you won’t fight back, that you’ll take a lower offer, or that you’ll simply give up and pay for your repairs yourself.

They often use reasons like the following to deny claims:

• Late filing

• Fraudulent claim

• Excluded damages

• Exceeded policy limits

• Unpaid premiums

• Lack of proof

• Failing to mitigate damages

According to the Texas Department of Insurance, engaging the services of an advocate, like the Lundquist Law Firm, increases an insured’s payment on a property insurance claim by an average of 308%.* Having years of experience handling commercial claims against insurance carriers, Lundquist Law Firm has the resources to take your insurance company on and help you navigate the claims process. Contact us today at (346) 704-5295 to learn more.

If your claim was denied, you’ll want to ask an attorney if you have grounds to file a lawsuit. Qualifying claims might be eligible to file a “bad faith insurance claim,” which is an allegation that an insurance company knew you had a valid claim but denied you anyway. It’s a serious allegation. The consequences of bad faith would allow you to claim late fees and other expenses.

Unfortunately, underpayment is par for the course with large commercial insurers. Since the 1990s, insurance profits have skyrocketed thanks to a business model that low-balls clients and delays claims when initial offers aren’t accepted. It’s disastrous for claimants, but insurers don’t care because it’s “good for the bottom line.” The best way to fight against underpaid claims is to hire an attorney and let your adjuster know that you’re serious about prosecuting your claim. Having an experienced professional on your side evens the playing field, forcing the insurer to pay up or prepare for trial.

Delaying claims is a common tactic to force you to accept an underpaid claim. Your options, however, are limited to filing a civil claim. Thanks to a lack of insurance regulations, companies can delay claims through a host of tricks: meaningless investigations, asking for proofs of loss, “check-ins,” and other bald-faced delay tactics. Forcing them to come to terms with you requires building your own case and threatening to bring it before a jury. The stronger your attorney’s record of success in that regard, the more likely this will work.

Here are some hard-and-fast tips to find a solid contractor:

• Get 3 bids minimum

• Throw out the lowest bid—they’re cutting corners

• Ask for (minimum) 3 customer references from each bidder

• Insist on getting financial references as well

• Call their suppliers to make sure they’re not marking up supply costs too high (normal markup is 20-30%)

• Make sure they have workers’ compensation insurance and general liability

• See if they’re willing to stick to a payment schedule (10% upfront, 25% 3x over project, 15% final payment is normal).

• Be wary of contractors who want 50% upfront

• Be wary of contractors who haven’t been in business for longer than a few months

• Never agree to let your contractor receive your FEMA benefits directly (and be suspicious of those who ask)

• Check their reputation with local trade associations