Navigating insurance coverage declare disputes and coping with insurance coverage firms might be difficult, and hiring an legal professional to assist is among the finest strikes you may make. Nevertheless, many individuals have heard damaging issues about legal professionals and are apprehensive about working with them. Do you resonate with this?
If that’s the case, we’re right here to clear the air. We all know there are a lot of myths and misconceptions about disputing insurance coverage claims and insurance coverage declare attorneys, and we’re right here to debunk the highest 5.
5 Myths About Attorneys and Disputing Insurance coverage Claims
On this weblog, we’re breaking down 5 frequent myths about insurance coverage claims and the attorneys who tirelessly advocate for his or her shoppers with a view to get them the compensation they rightfully deserve. So, when you’re questioning how this complete course of works, we’re right here to assist!
MYTH #1: Attorneys demand cash upfront.
TRUTH: This can be a frequent fantasy; a respected insurance coverage declare dispute legal professional is not going to ask for cash upfront. As an alternative, they work on a contingency foundation, which means they solely receives a commission in the event that they win the case. This implies there are not any upfront prices to the home-owner, and the legal professional solely will get paid a share of the settlement or verdict quantity they safe for the home-owner.
If the legal professional doesn’t win the case, the home-owner is just not answerable for paying any authorized charges. It is a win-win scenario for the home-owner.
MYTH #2: There will not be sufficient cash to interchange the roof after the legal professional is paid.
TRUTH: Since insurance coverage firms are legally required to pay legal professional charges, authorized prices, and curiosity penalties along with the declare proceeds, this isn’t true.
Below most insurance coverage insurance policies, the insurance coverage firm is required to cowl the affordable legal professional charges and prices incurred by the home-owner after they pursue a declare. Which means if a home-owner hires an legal professional to dispute a declare denial or insufficient settlement provide, the insurance coverage firm should pay for the legal professional’s companies.
On high of that, if the insurance coverage firm unreasonably delays or denies fee of the declare, the home-owner could also be entitled to get well 18% curiosity penalties on high of the declare quantity.
MYTH #3: The insurance coverage coverage might be canceled, or charges might be raised if an legal professional is employed or initiates a lawsuit.
TRUTH: Completely not – state legislation prohibits insurance coverage firms from retaliating towards policyholders who file a declare, rent an legal professional, or take authorized motion towards them. Which means insurance coverage firms legally can not cancel a coverage or elevate charges solely as a result of a home-owner hires an legal professional or sues the insurance coverage firm.
MYTH #4: Public adjusters (PAs) are higher suited to deal with insurance coverage disputes than attorneys.
TRUTH: Public adjusters aren’t at all times finest suited to deal with insurance coverage disputes. Whereas it is true that PAs have experience in assessing and estimating property harm, it is essential to notice that they don’t seem to be licensed attorneys and should not have the ability to deal with authorized points associated to insurance coverage claims.
Attorneys are higher outfitted to deal with authorized points and conditions the place there are disputes over protection limits or exclusions. They’ll assessment the insurance coverage coverage and decide if the insurance coverage firm is performing in good religion and complying with state insurance coverage legal guidelines.
MYTH #5: Attorneys receives a commission with cash they didn’t earn or that the home-owner bought on their very own.
TRUTH: This isn’t true. Attorneys are solely paid with the “internet new” cash, which is over and above what the home-owner acquired on their very own. In different phrases, the legal professional is simply paid on the cash they had been capable of get for the home-owner that the home-owner wouldn’t have been capable of get on their very own.
For instance, a home-owner filed a declare with their insurance coverage firm and was awarded $50,000 for damages to their property. The home-owner then hires an legal professional to dispute the insurance coverage firm’s determination, and the legal professional can negotiate a settlement of $70,000. On this case, the legal professional would solely be paid on the $20,000 distinction between the unique $50,000 settlement and the $70,000 settlement that the legal professional was capable of receive.
The Lane Legislation Agency Is Right here To Assist Settle Denied Insurance coverage Claims
As outlined above, hiring an skilled insurance coverage declare dispute legal professional can present important benefits to owners in getting the compensation they deserve and defending their rights. Attorneys are solely paid on the web new cash they’re able to get for the home-owner, and their charges and prices are required to be paid by the insurance coverage firm, not the home-owner. So, there is no cause to hesitate to hunt out authorized assist if you wish to dispute an insurance coverage declare.
The Lane Legislation Agency has a staff of skilled attorneys specializing in tackling insurance coverage declare disputes. For those who’re searching for a devoted advocate who will combat tirelessly in your behalf, click on this hyperlink to arrange a free session.