Navigating insurance coverage declare disputes and coping with insurance coverage firms could be difficult, and hiring an lawyer to assist is likely one of the finest strikes you may make. Nonetheless, many individuals have heard detrimental issues about attorneys and are apprehensive about working with them. Do you resonate with this?
In that case, we’re right here to clear the air. We all know there are various 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 shoppers with a purpose to get them the compensation they rightfully deserve. So, in the event 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 won’t ask for cash upfront. As an alternative, 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 proportion of the settlement or verdict quantity they safe for the house owner.
If the lawyer doesn’t win the case, the house owner isn’t accountable for paying any authorized charges. It is a win-win scenario for the house owner.
MYTH #2: There will not be sufficient cash to interchange the roof after the lawyer is paid.
TRUTH: Since insurance coverage firms 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 cheap lawyer charges and prices incurred by the house owner once they pursue a declare. Which means if a house 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 may very well be canceled, or charges may very well be raised if an lawyer is employed or initiates a lawsuit.
TRUTH: Completely not – state regulation prohibits insurance coverage firms from retaliating towards policyholders who file a declare, rent an lawyer, or take authorized motion towards them. Which means insurance coverage firms legally can not cancel a coverage or increase charges solely as a result of a house 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 finest suited to deal with insurance coverage disputes. Whereas it is true that PAs have experience in assessing and estimating property injury, it is necessary to notice that they aren’t licensed attorneys and will not have the ability to 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’ll evaluate 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 house owner acquired 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 acquired on their very own. In different phrases, the lawyer is just 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 house 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 resolution, 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 get hold of.
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 owners in getting the compensation they deserve and defending their rights. Attorneys are solely paid on the web new cash they can 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 isn’t any cause to hesitate to hunt out authorized assist if you wish to dispute an insurance coverage declare.
The Lane Legislation Agency has a crew of skilled attorneys specializing in tackling insurance coverage declare disputes. When you’re on the lookout for a devoted advocate who will combat tirelessly in your behalf, click on this hyperlink to arrange a free session.
