Wind and hail are common causes of property damage, particularly in Texas where the weather can quickly turn severe. For business owners, such damage can disrupt operations and lead to significant financial losses. Ensuring a fair insurance claim payout is important for recovery, yet some find their claims substantially underpaid. The following steps can help to better ensure you receive the compensation you deserve from your insurance provider.
#1: Assess the damage
As we learned during Hurricane Harvey, major storm systems can cause catastrophic damage. Wind can tear off roofing materials or topple signage, while hail can create visible dents or punctures in roofing, siding, or windows. You can help better ensure you receive fair coverage by having an idea of the cost. You can get this information by conducting a thorough inspection of the entire property. It is also wise to document all damages with photos and detailed notes.
#2: Advocate for your interests
When an insurance company underpays a claim, it can feel like a major setback. However, Texas business and homeowners have several options to address this issue.
- Review your insurance policy: Understand the coverage specifics and any deductibles that apply. Insurance policies can be complex. Look for specific sections that outline coverage for wind and hail damage.
- Gather evidence of the damage and repair estimates: This can include collecting multiple repair estimates from licensed contractors and keeping a log of all communication with the insurance company.
- Appeal the insurance company’s decision: This process typically involves submitting a formal appeal letter outlining why the payout was insufficient and providing additional evidence or documentation that supports your claim.
If the appeal does not resolve the issue, you can consult with an attorney with experience in insurance law to help provide guidance on further actions, such as litigation.
#3: Know your rights
Texas law requires insurance companies act in good faith. If you believe your claim was underpaid due to bad faith practices by the insurer, legal recourse might be necessary. An attorney can help you understand your rights and the potential for recovering more than the original claim amount if the insurer acted improperly.
Dealing with wind and hail damage is challenging, but being underpaid on an insurance claim adds an additional layer of difficulty. By understanding your policy, preparing thorough documentation, and utilizing the appeals process, you can take proactive steps toward securing a fair settlement.
