Experience the Frustration of Insurance Companies Stalling
When you purchase a homeowners’ insurance policy, you have high expectations that your insurer will fulfill their obligations. You trust that they will provide support during tough times and offer peace of mind in the face of natural disasters, accidents, and other unforeseen events.
However, some homeowners’ insurance companies fail to act in good faith by intentionally delaying the claims process. This tactic, commonly known as “stalling,” undermines the trust policyholders place in their insurance provider.
If your insurance company is taking an unreasonably long time to process your homeowners’ insurance claim, you may have grounds to file an insurance bad faith claim. Consult with our experienced homeowners’ insurance attorneys at HD Law Partners in Tampa to discuss your specific situation.
Why Do Insurance Companies Resort to Stall Tactics?
Homeowners’ insurance companies employ various bad faith strategies, including stall tactics, to avoid or delay claim payments. As profit-driven enterprises, insurers often adopt these tactics to increase their revenues.
By intentionally delaying the processing, investigation, and payment of claims, insurance companies hope to compel policyholders to accept lower settlement offers.
Reasons Behind Delayed Settlements for Homeowners’ Insurance Claims
Typically, homeowners’ insurance companies delay settling or paying out claims for these three reasons:
- The insurance company requires additional documentation from the claimant;
- The insurance company is conducting an extensive investigation due to suspicions of fraudulent activity; or
- The insurer is employing stall tactics to coerce policyholders into settling for less than they deserve.
If you suspect that your homeowners’ insurance company is intentionally stalling, it is crucial to seek advice from a knowledgeable attorney right away.
Steps to Take When Your Insurer Delays Payments
If you believe that your homeowners’ insurance company is intentionally delaying the processing or payment of your claim, follow these steps:
- Collect and organize your claim-related documentation and records. Ensure you gather evidence such as photos and videos of the damage, medical records, repair estimates, a copy of your insurance policy, and any correspondence with the insurance company. Keep these records secure and well-organized.
- Maintain a clear timeline of events. Keeping a journal detailing everything that occurred during and after the incident or natural disaster that caused property damage is vital. Document all conversations with the insurance adjuster and summarize their content. Memories can fade over time, so a clear timeline will help strengthen your claim against the insurer.
- Cooperate with your homeowners’ insurance company. Most policies require policyholders to cooperate with insurers during the claims process. If the insurance company requests additional documentation, provide it promptly. However, if they ask for a recorded statement, seek the advice of an attorney before providing any statements.
If your homeowners’ insurance company is stalling or using delay tactics to avoid paying your claim, it is essential to contact a skilled attorney who can protect your rights and help you obtain the compensation you deserve. Call our results-driven attorneys at HD Law Partners on 813-964-7878.
For more information, visit: https://www.hdlawpartners.com/5-things-to-avoid-during-the-hurricane-insurance-claims-process-in-florida/