The Florida Home Committee on Banking and Insurance coverage appeared to have many constituents upset with delays and denials after I was testifying in entrance of them a month in the past. The insurance coverage consultant tried to clarify that lots of the denials had been as a result of most insurance policies don’t cowl flood.
Our agency was requested to symbolize a girl for water harm to her condominium unit. Florida Peninsula denied the declare as a result of their investigation mentioned flood water harm just isn’t coated below the coverage. She couldn’t communicate with the unique discipline adjuster however was referred to someone who was by no means on the unit. The shopper defined that her unit was on the third flooring and no flood water might get that prime. The desk adjuster mentioned nothing may very well be accomplished about it.
Many Florida insurance coverage firms are sending kind denial letters. This instance and this sort of denial is what’s driving policyholders right into a perception that insurance coverage is a rip-off. This is similar sort of kind denial letter prevalent in medical health insurance many have obtained for years. The property insurance coverage claims work product is now typically the identical as medical health insurance.
Delay, Deny, and Defend is a really actual drawback in Florida. For a lot of claims, the quantities are small and plenty of will merely need to dwell with the denial as a result of the fee to gather what’s owed is larger than what’s owed.
Thought For The Day
“By no means argue with silly individuals. They are going to drag you all the way down to their stage after which beat you with expertise.”
—Mark Twain
