One of the most important things to know if your home has been damaged by a flood or your property lies within a designated flood zone is that flood insurance is not the same as homeowners insurance. Most homeowner insurance policies do not cover damage caused by floods and related natural disasters. If you have a flood insurance policy, and you are faithful to pay your monthly premiums, you should be getting the full scope of compensation to repair your property. There may be hope for you even if you didn’t purchase a separate flood insurance policy. If you are left paying out of pocket for flood and water damage after a storm, even though you are insured, then you might be entitled to take further action against your insurance company for something called “insurance bad faith.”
FEMA Explained
FEMA stands for the Federal Emergency Management Agency and it is an extension of the United States government that managed the National Flood Insurance Program (NFIP). All flood insurance claims that are made through NFIP are financed by FEMA funds. Because FEMA is responsible for the funds, they are able to audit all types of insurance companies to make sure that each of them is complying with regulations. Not only does FEMA help pay policyholders to repair flood damage, FEMA can also make sure that insurance companies are not practicing in bad faith and withholding those funds for their own profit.
Determining what damage a flood insurance policy covers can become difficult when there is also a hurricane or other type of tropical storm involved. In many instances, insurance companies might try to shift liability off of themselves by claiming that the flood damage was actually caused by a hurricane, and therefore falls under the category of a hurricane insurance claim. Flood damage can also be disputed if you live in an apartment or condominium and the dwelling is shared. If your claim is being stalled or dragged through a lengthy dispute process, let our firm step in and fight for you.
What Robert Sparks Attorneys Can Do
Robert Sparks Attorneys can help clarify seemingly ambiguous policy issues and also fight for policy holders when their claim is wrongfully being stalled or denied. Don’t get left paying out of pocket for flood expenses when you actually deserve coverage. Our team of attorneys can evaluate your policy as well as your insurance company’s conduct in order to uncover additional areas of compensation. From the initial filing process to the close of your case, our firm is here for you. To receive a free evaluation of your case, call the firm today.
