Hurricanes might be a normal part of life in Boca Raton, but that does not mean the damage caused by these natural disasters can’t upend your life at a moment’s notice. Strong storms can level residential homes and businesses alike. The damage associated with these storms can be severe even if it does not result in the total destruction of the property.
If you own property in Boca Raton, your insurance policy should include language that covers your losses from heavy wind or hurricane damage. Unfortunately, many insurance companies put their profits over their obligation to cover your losses in the case of a disaster. This can result in a reduced settlement or even a denied claim.
If your residential or commercial property has sustained damage in a hurricane, you deserve a fierce advocate who is not afraid to help you fight for the best possible settlement. The public claims adjusters from On Target Claims can help you maximize your settlement with the insurance company.
Our team is ready to help with every phase of your claim. This starts with carefully investigating the damage to determine what your case might be worth. Often, we are able to show that the insurance company dramatically undervalued your claim and has made an unreasonably low offer to settle.
When the insurance company refuses to act in good faith, we can help you get the most out of your claim. This includes negotiating with the insurance company on your behalf to help you recover what you are owed.
Getting the most out of your hurricane claim is about more than repairing the damage that was done to the property. For residential claims, you could also be entitled to the cost of temporarily relocating while your home is repaired. For commercial claims, you could have language in your policy that entitles you to financial losses and other benefits. Our team is ready to help you identify what your case is worth.
The team at On Target Claims is here to stand by your side. We don’t work for the insurance company—we work for you. We have experience resolving hurricane and wind claims, and we are ready to use that experience to help you maximize your settlement. Contact us as soon as possible to learn more.
What Coverage Should I Have?
The best thing that you can do to prevent stress when you find yourself having to file a claim is to understand your insurance policy from the day that you purchase it. Make sure you start by getting the coverage your mortgage lender requires, and then see what additional coverage you might want. Don’t forget to also consider things like replacement cost versus actual cash value.
Replacement cost is what you want – this pays to rebuild or replace your home or property when it is damaged or lost. Actual cash value only pays what the property is worth at the time of loss. So if your home is worth $265,000, it could cost up to $500,000 or more to replace in today’s market. If you have ACV coverage, you’re going to have to kick in the additional funds yourself.
Aside from the basics, there are also some Florida-specific things to keep in mind.
Hurricane Deductibles
Pretty much every home insurance policy in Florida includes a hurricane deductible. This deductible goes above and beyond your standard deductible and is paid when the filed claim resulted from hurricane damage. If you file a hurricane or wind damage claim related to tropical storms or named storms, you will have to pay one of four amounts based on your policy:
- $500 flat deductible
- 2% of coverage
- 5% of coverage
- 10% of coverage
The higher your deductible, the lower your monthly premium, and vice versa.
This is not something that you have any choice in, with the exception of picking your deductible. Many insurers will allow you to select your preferred deductible to suit your financial situation.
Windstorm Coverage in Boca Raton
Windstorm damage is typically included in homeowners insurance policies in Florida. However, as insurers continue tightening their belts, it is becoming increasingly common for coastal residents to have a separate windstorm policy that offers specific coverage. The idea is that if you live on the coast (AKA in Boca Raton), you’re in an area prone to high winds, tropical storms, and hurricanes. Therefore, you are more likely to file a claim and should have separate insurance as a result.
Ultimately, insurance companies don’t want to pay if they don’t have to. Therefore, they will find as many ways as possible to reduce claim payment amounts, refuse coverage, or claim that people should have been otherwise prepared, such as in the case of separate windstorm coverage for coastal homes. Make sure that your home insurance policy covers wind damage. Ask your insurer specifically if you need an additional policy for windstorm protection because you live in beautiful Boca Raton, just minutes from the coast.
Wind Mitigation Credits
To encourage homeowners to fortify and better protect their homes, Florida offers wind mitigation credits to residents. These come in the form of discounts on hurricane and windstorm deductibles and even general discounts on your home insurance policy. The amount of the discount will depend on what credits you get. The more credits you earn, the bigger your discount.
Anything you do to fortify your property against hurricanes and other damage could help you earn these credits. Typically, covered items include things like:
- Roofing, including the decking materials and the joints where the roof meets the walls
- Windows and doors that are wind-resistant or hurricane-rated
- Hurricane shutters
- Wind-rated garage doors
- Roof shape (HIP roofs get the biggest discount)
- Secondary water barriers
If you incorporate any of these elements into your home, be sure to ask your insurance company to send out an inspector. They will be able to review everything you have done and advise you on ways to make more improvements. Then, they will file the report with the insurance company, and your discounts will be applied.
This process may take some time, so be diligent in filing paperwork promptly and keeping on top of the insurance company to get your discounts in place sooner rather than later.
Why Insurance Companies Deny Hurricane and Wind Claims
The first job of any insurance adjuster is to attempt to find fault in the claim that reduces or eliminates the insurer’s responsibility to pay. Yes, they’re going to come and survey the damage and compare it to the coverage that you have. However, they’re doing the work on behalf of the insurance company and, therefore, are trying to value everything “fairly” while still paying the least amount possible.
They often take advantage of unsuspecting and uneducated homeowners during this process, hoping that people either won’t know better or won’t bother to speak up because they don’t think they can.
The fact is that you can always negotiate an insurance settlement. Your insurance company doesn’t have to agree to the negotiations, but you can try. And you should. If you’re not getting anywhere, our public insurance adjusters can take over and get you the compensation you are owed.
But why are claims denied in the first place? Each claim and situation is unique, but common reasons for denial include the following:
- Incorrect or improper filing, missing documentation or forms, etc.
- Missed deadlines or statute of limitations expired
- Failure to respond to communications from the insurance company
- Canceled policies due to lack of payment
- A lack of coverage for the specific event
- False statements and questionable claims
- Exclusions or limitations of coverage
- Failure to make reasonable and necessary temporary repairs
If you aren’t careful, one simple mistake could end up costing you hundreds of thousands of dollars. That’s why it’s critical that you understand your insurance policy and how the claims process works.
It’s also a great reason to have a Boca Raton public insurance adjuster on your side, like the experts at On Target Claims.
