Property Damage

Whether you’re a home or business owner, natural disasters can have devastating effects. Texas residents are susceptible to a variety of threats with high temperatures that spur wildfires to tornadoes and even hurricanes in the gulf. The 13 tornadoes that ripped through the Dallas/Ft. Worth area on April 3, 2012 prove that such effects can happen in an instant.

Property owners can do all they can to protect themselves from these disasters, but their unpredictable nature makes it impossible. Many people think that insurance policies will provide enough security when tragedy strikes. However, when damage affects a widespread area – owners can find themselves getting less than what they need. If such damage does occur to your home or business, then the following tasks need to be performed:

• take photographs of the property
• do a very thorough walk through
• document everything from the loss and any conversation with an adjustor or contractor (date, time, location, and representative)

As the property owner, you need to protect your property from any further damage and avoid the temptation of hiring the first person that appears onsite. The affected areas will be besieged with companies offering all sorts of disaster recovery assistance. Avoid contracting with these initial offers until you have had the chance to fully evaluate your situation and options.

That is where Parker McDonald comes in. Simply filing a damage claim may not be enough. Critical information needs to be gathered before and after you contact your insurance company to ensure you receive a fair settlement. Homeowners should follow these steps when filing a claim:

• Report the claim promptly
• Protect the property from further damage
• Keep an accurate record of the cost of repairs
• Furnish a complete inventory or damaged personal property
• Provide access to the damaged property
• Provide a signed proof of loss if requested
• Provide an examination under oath if requested

With so many factors involved in crisis situations, it’s important that you have someone truly on your side. As your legal advisors, we will defend your rights as a property owner against the companies who look to protect their own interests. We help our clients fight through the woes of:

• Structural damage,
• Windstorm damage,
• Fire damage,
• Hurricane damage,
• Tornado damage.

Our team provides the best resources and individualized attention to support our client’s cases against insurance companies who don’t fulfill their contractual duties.

Bad Faith Insurance Practices

An insurance policy is a contract and when you purchased it, you expected the insurance company to honor the commitments made in the policy. Your insurance company is prohibited from acting in “bad faith.” Insurance companies can be held liable for substantial damages when they fail or refuse to:

• Honor the terms of a policy it has underwritten,
• Inform about arbitrary changes in coverage terms,
• Notify policyholders of cancellations or changes in their coverage,
• Settle a claim or take an unreasonably long time to settle a claim.

Parker McDonald vigorously pursues insurance companies that engage in bad faith.

Once an insurance company issues you a policy, they are bound by the terms contained within it. Insurance policies spell out what is and is not covered, what conditions apply, and what coverage is excluded from the policy. These general rules apply to most insurance policies including:

• Homeowner’s insurance
• Fire insurance
• Automobile insurance
• Disability insurance
• Life insurance
• General liability insurance
• Errors and omissions insurance

What most homeowners don’t realize is that insurance companies have duties and obligations to follow that include:

• Respond promptly to the claim
• Objectively investigate the claim
• Advise the insured of ALL coverages
• Pay or deny the claim in writing
• Prepare detailed repair estimates
• Provide needed forms
• Pay undisputed amounts that are owed
• Most importantly, ACT IN GOOD FAITH.

Insurance companies are notorious for delaying claims and often do this by undervaluing the amount it is going to take to repair or replace.  Many times they will not include certain items or not pay to have them repaired or replaced the same as the remaining property. Insurance companies act in bad faith when they engage in any of the following:

• Deny applicable coverage
• Deny paying or unreasonably delay paying a claim
• Change coverage without notification
• Terminate a policy without notification
• Refuse to honor a life insurance policy
• Refuse to hire a lawyer and provide a defense to a lawsuit if you have been sued.

If your insurance company has breached its promises to you and acted in bad faith, contact Parker McDonald for a free consultation. Cases are handled on a contingency fee so that you pay attorney’s fees only if a recovery is obtained. To schedule a free appointment, our Toll Free number is 800-990-4884 or fill out the contact form on this page.