Getting a denied Banker’s property claim is a setback, but it is not the final answer. It is possible to appeal a denial from an insurance company—particularly if you have a property lawyer working on your behalf.
Call the Law Offices of Anidjar & Levine to learn about your options, including negotiating a settlement or filing suit. Start with a complimentary case review:
You Have Rights
While an insurance company has the right to deny your claim, you have the right to appeal. In addition, you are protected under state statute from unreasonable delays or insufficient communication on the part of your insurance company.
In fact, per the Florida Homeowner’s Bill of Rights:
- You must be notified by your insurance company within 14 days that your claim has been received.
- You must receive a written statement on the status of your claim within 30 days, which includes whether the claim is being fully or partially covered, has been denied, or requires additional investigation.
- Within 90 days your claim must be fully processed either with full payment, or payment of the undisputed portion, or a written report explaining why the claim was fully or partially denied.
If you feel your homeowner’s rights are being denied, you can file a complaint with the Florida Division of Consumer Services. However, they will investigate complaints only—they will not negotiate your compensation.
Common Reasons for a Denied Banker’s Property Claim
While you may be feeling alone and isolated after your property claim is denied, it is more common than you think. Your insurance company is not “out to get you” and has a number of standard reasons for denying a claim.
- Your Deductible is Higher Than The Amount You Are Claiming: You most likely have a deductible on your insurance plan of around $1,000. The problem is, if the value of your claim is lower than your deductible amount, your claim will be denied.
- You Have Late or Missed Payments: If you have ever missed any payments or are habitually late in paying, your insurance company may exercise their right to deny your claim.
- Items You Are Claiming Are Excluded: Your insurance plan generally covers your household property but there are certain items that are excluded. Things like art, collectible items, or expensive bicycles would not be covered under your standard insurance but can be added in a separate “rider.” However, you would have needed to add those things before damage or loss occurs.
- Cause of Damage or Loss Not Covered: The specific thing that caused you to file a claim is called a “peril” in insurance terms. Common perils include events such as burglary, vandalism, smoke or fire damage, hail, or water damage. However, some perils must be covered under separate insurance policies. This may include windstorms, floods, or earthquakes.
Of course, your insurance company may find other reasons to deny your claim. A property claim attorney may be able to help you get it reversed.
Steps to Take After a Denied Banker’s Property Claim
You will need to carefully prepare your appeal, if you have a denied Banker’s property claim. While you may have provided some of this same information already, any additional supporting materials or evidence will be useful in supporting your claim.
- Before and After Photos: It is a good idea to take pictures of your property as soon as you acquire it. However, even if you have not been in the habit of doing that, you may well have older images taken in or around your home that include your property in the background.
- Additional Estimates: You may have received a denied Banker’s property claim because Banker’s disagrees with your initial estimate for repair or replacement. Getting additional estimates may help justify your claim. Never hire anyone to do repairs before you know for certain what your insurance will cover.
- Receipts and Other Financial Records: If you are a business owner, you will want to document the income or the inventory you have lost. Tax records, leases, or purchase orders will help justify your claim. If your damage or loss affected your home, collect receipts for emergency purchases you had to make, including lodging, food, or other personal items.
Call the Law Offices of Anidjar & Levine
If you have just received a Banker’s property claim denial, you may benefit by working with a property attorney. Call the Law Offices of Anidjar & Levine to find out how we can help.
Your initial case evaluation is free. During this review, we will learn about your particular claim, and discuss the next steps.
We can assist you in reviewing your individual policy and gathering the necessary information for your appeal. Our team will help you prepare the paperwork and communicate directly with Banker’s so you do not have to.
It may be possible to negotiate a settlement for compensation. If a settlement is impossible, we can even file a suit in civil court on your behalf, and represent you through litigation if need be.
In Florida, if you file an individual suit against your insurance company and win your case, the insurance company is required to pay your legal fees.
A denied Banker’s property claim is not the answer you were hoping for, but it may not necessarily be the final answer. Call the Law Offices of Anidjar & Levine today at 1-800-747-3733 and let us fight for you.