Navigating insurance coverage declare disputes and coping with insurance coverage corporations might be difficult, and hiring an lawyer to assist is among the greatest strikes you can also make. Nevertheless, many individuals have heard unfavorable issues about attorneys 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 lots 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 widespread myths about insurance coverage claims and the attorneys who tirelessly advocate for his or her purchasers with a purpose 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: It is a widespread fable; a respected insurance coverage declare dispute lawyer is not going to ask for cash upfront. As a substitute, they work on a contingency foundation, that means they solely receives a commission in the event that they win the case. This implies there are not any upfront prices to the house owner, and the lawyer solely will get paid a share of the settlement or verdict quantity they safe for the house owner.
If the lawyer doesn’t win the case, the house owner is just not answerable for paying any authorized charges. It is a win-win state of affairs for the house owner.
MYTH #2: There will not be sufficient cash to switch the roof after the lawyer is paid.
TRUTH: Since insurance coverage corporations are legally required to pay lawyer 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 lawyer charges and prices incurred by the house owner once they pursue a declare. Because of this if a home-owner hires an lawyer to dispute a declare denial or insufficient settlement provide, the insurance coverage firm should pay for the lawyer’s providers.
On high of that, if the insurance coverage firm unreasonably delays or denies cost of the declare, the house 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 lawyer is employed or initiates a lawsuit.
TRUTH: Completely not – state regulation prohibits insurance coverage corporations from retaliating in opposition to policyholders who file a declare, rent an lawyer, or take authorized motion in opposition to them. Because of this insurance coverage corporations legally can’t cancel a coverage or increase charges solely as a result of a home-owner hires an lawyer 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 greatest suited to deal with insurance coverage disputes. Whereas it is true that PAs have experience in assessing and estimating property injury, it is essential to notice that they aren’t licensed attorneys and should not be capable of deal with authorized points associated to insurance coverage claims.
Attorneys are higher geared up to deal with authorized points and conditions the place there are disputes over protection limits or exclusions. They will evaluate the insurance coverage coverage and decide if the insurance coverage firm is appearing 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 house owner bought on their very own.
TRUTH: This isn’t true. Attorneys are solely paid with the “web new” cash, which is over and above what the house owner obtained on their very own. In different phrases, the lawyer is simply paid on the cash they had been capable of get for the house owner that the house 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 house owner then hires an lawyer to dispute the insurance coverage firm’s choice, and the lawyer can negotiate a settlement of $70,000. On this case, the lawyer would solely be paid on the $20,000 distinction between the unique $50,000 settlement and the $70,000 settlement that the lawyer was capable of acquire.
The Lane Legislation Agency Is Right here To Assist Settle Denied Insurance coverage Claims
As outlined above, hiring an skilled insurance coverage declare dispute lawyer can present important benefits to householders 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 house owner, and their charges and prices are required to be paid by the insurance coverage firm, not the house owner. So, there is not any motive to hesitate to hunt out authorized assist if you wish to dispute an insurance coverage declare.
The Lane Legislation Agency has a group 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.
