How much is my Florida Home Insurance claim worth?: South Florida Home Insurance Attorney Explains
Every Home Insurance claim is different due to a variety of factors.
Factors that can affect how much your Florida Home Insurance Claim is worth to a Florida homeowner include:
- The type of damage your home sustained
- The area or part of your home that sustained damage (some parts of your home are “worth” more than other)
- How widespread the damage is
- The type of coverage you have on your home
- The person at the home insurance company that evaluates your home insurance claim
The type of damage your home sustained affects how much your Florida Home Insurance Claim is worth
The type of damage your home sustained and where the damage was sustained will affect how much your claim is worth.
For example, you could have roof damage from a hurricane that requires you to replace your roof, and some walls and flooring due to water damage from the storm that came in through the roof. On the other hand, you could have water damage from water coming through a window - maybe you only need some wall and floor repairs - this of course will be a claim that is “worth” less than a claim that also involves needing a new roof.
How widespread damage your home sustained affects how much your Florida Home Insurance Claim is worth
How widespread the damage is also depends on the value of your Florida home insurance claim. For example, what if your sewer backs up into your bathroom, overflows from the shower drain and damages the shower and bathroom floor -- you’re likely entitled to a new shower and new flooring in the entire bathroom. But let’s say you have tile in the bathroom, and then wood flooring outside the bathroom - the coverage is ONLY for the tile bathroom flooring.
Meanwhile, if an issue with your sink occurred that was eligible for a home insurance claim - let’s say something happened where you had water damage on your wood flooring in the kitchen from a sink pipe issue, and you have the same wood flooring on the entire first floor of your home - you could potentially be entitled to replacing ALL of your wood flooring, and not just the flooring in the kitchen.
The type of insurance coverage you have on your home affects how much your Florida Home Insurance Claim is worth
The type of coverage you have on your home also makes a difference on what your Florida Home Insurance claim is worth.
For example, you may have a coverage limit for water or mold damage - which means there is a cap on the money you can get for damage from those two issues. Or, in the case of fire coverage - you may have coverage that offers ‘full replacement value’ of everything lost, OR you could have a form of coverage that only covers the current value of what you own (for example, full replacement value coverage would entitle you to replace everything new and it would be covered - whereas if your coverage is for the current value of the items you lose that means something different altogether.
For example, if your couch is 5 year old, but you bought it for $2,000 -- you’re going to get far less than that for your new couch because your couch has depreciated over time. So it doesn't matter that buying the same couch will likely be more than $2,000 now, you will get far less than $2,000 from your insurance company for the loss of your couch because it was not worth $2,000 at the time you lost it.
WHO processes your home insurance claim affects how much your Florida Home Insurance Claim is worth
Finally, another one of the possible factors in determining how much your Florida home insurance claim is worth is WHO actually evaluates your claim at the home insurance office.
Each claim is different. For instance, 5 people could evaluate a claim and each person would likely write-up an estimate with a different value amount. This is why it is important to go with trusted representation for your claim, that way you know your estimate is legitimate and holds value.
Having a home insurance attorney on your side means that there is someone holding the Florida Home Insurance Company accountable to every penny you’re entitled to in order to get your home back to normal as soon as possible
FUN TIP: When an insurance company is flooded with hurricane claims, whose file do you think they put to the top of the pile? A public adjuster cannot file a lawsuit to trigger fees if the Florida home insurance claim is not handled timely or appropriately. An attorney’s file will be handled more quickly since they have the power to jump into court if the claim is not resolved in a timely, fair manner.
Have more Home Insurance Claim questions?
Learn more about Rossen Law Firm’s Lead Home Insurance Attorney Manny here; or visit our separate Manny Protects Your Home Website to learn more.
You can also call Rossen law Firm 24/7 and ask to speak with Manny. Manny can answer any questions you have and he offers FREE consultations to homeowners when their homes and property have suffered damage - whether due to a storm or hurricane, water damage, a burst pipe, fire, sewage backup and more.
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