It is difficult to say what the average settlement is for Louisiana hurricane damage claims. This is because every hurricane can come in with different wind speeds, rainfall amounts, and different amounts of damage. Not only that, but every person’s property losses can vary depending on the details of your case.
Depending on your home and personal property value, you could obtain injury settlements as low as a few thousand dollars or as much as hundreds of thousands of dollars. The best way to find out what your hurricane damage claim is worth is by contacting an attorney to review your losses further.
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Calculating the Value of Your Louisiana Hurricane Damage Claim
Many items can impact the amount of compensation that you can be awarded in your Louisiana hurricane claim settlement. Some of the more common of which include the following:
The Value of Your Property
The greater your property value, the more you could expect in your insurance settlement. If you have a considerable amount of valuable property, it is more likely that you will receive a higher insurance settlement.
However, if your property or home is of average value, you might expect an average size settlement. And, your policy limits will affect your settlement. The costs of repairing or replacing the property losses can also impact the amount of your hurricane damage settlement.
Extent of Physical Damages
The extent of the physical losses to your home and property will also impact the amount of your settlement. If your garage, home, or other space on your property is a total loss, you could expect to be awarded a significantly higher settlement.
However, if your home only sustained minor losses or roof damage, it is more likely that you will receive a payout that more accurately reflects that loss.
Impact of Water Damage
It is important to find out whether your hurricane insurance coverage will protect you from water damage. You may be surprised to learn that many homeowners insurance policies do not cover flood damage. You may have been required to purchase flood insurance to protect yourself from the water damage caused by tropical storms, hurricanes, and other natural disasters, as Louisiana Department of Insurance (LDI) explains.
Whether the insurance company covers the damage can vary considerably depending on your policy details. For instance, if you did not purchase flood insurance, but the hurricane damage to the roof allowed water damage to occur inside your home, the insurance company may be required to cover these costs in full.
Value of Personal Property
Ensuring that every damaged personal item is accounted for is critical when calculating the value of your hurricane damage claim. Nearly any piece of personal property can be included, including:
It is important to include proof of ownership for many of the more valuable items, as it is unlikely that the insurance company will be willing to agree to compensate you without proof of the item’s value. Your hurricane damage lawyer will do everything possible to ensure that the insurance company handles your claim equitably.
How Deductibles Work When Filing a Hurricane Damage Claim
It is important to understand how the deductible works when filing a hurricane damage claim. Your deductible refers to the amount of money you will be required to cover before the insurance company covers the remaining costs.
Although you might assume that your deductible is fixed, many homeowners insurance policies will list the deductible as a percentage of the total value of your property. If this happens, the amount of your settlement can be significantly impacted.
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Deadlines to Be Aware Of
LDI requires business and property owners to notify their insurance company within days after hurricane damage. Failure to notify the insurance company before this deadline could result in the denial of your hurricane damage claim.
There may be other, more specific deadlines that apply to your individual hurricane damage claim. For this reason, a legal advocate can help you navigate the insurance claims process.
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How to Challenge the Insurance Company
It is more common than you might think for insurance adjusters to make judgments that deny or limit your settlement. But the insurance adjuster‘s decision is not necessarily the end of your case.
You have the opportunity to object to the insurance adjuster’s ruling with help from your hurricane damage lawyer. If the insurance company fails to handle your case fairly, your attorney can pursue legal action against them and even file a complaint with the LDI.
Get Help From a Louisiana Hurricane Damage Attorney
Insurance companies are known for taking advantage of claimants. If the insurance company is delaying or denying you the compensation that you are entitled to, contact a Louisiana hurricane damage lawyer at the Law Offices of Anidjar & Levine for help.
Receive your no-cost, risk-free consultation today when you give our office a call at 1-800-747-3733.