As a homeowner, you pay homeowners’ insurance every month should disaster strike. Well, disaster has struck, and you filed what you believed was a valid claim under your policy. So, you may feel very discouraged if your claim is severely underpaid or is denied altogether. Read more to learn about three steps you can take in such situations.
Review your claim and contact your insurer
First, you may want to review your initial claim before moving forward and contacting your insurer. You want to look for ways you can provide more evidence of your loss, such as photos, repair estimates and receipts for items purchased due to the damage. This can be beneficial when attempting to settle your claim.
After reviewing your claim, you can contact your insurer regarding the estimate given by your claims adjuster. You can ask for a second review or reexamination for any mistakes the insurer may have made in your initial claim.
Seek a third-party appraisal
If you cannot reach an acceptable settlement with your insurer, you can seek a third-party appraisal. This is an appraisal done by an appraiser or public insurance adjuster of your choosing. The third-party appraiser’s estimate can provide you with the evidence you need to challenge the denial.
File a complaint with the state
If the insurer continues to underpay or deny your claim following a third-party appraisal, you have the option to file a complaint with the state of Oklahoma. Many people choose to work with an attorney in this process. This may be necessary if you believe you are being mistreated or your insurer is engaging in bad business practices.
The state will investigate your complaint and if they determine it is valid, they will contact your insurer in an effort to reach an acceptable solution to your underpaid or denied claim.
Having an underpaid or denied homeowners’ insurance claim is discouraging, but you do have options for addressing the situation. Many homeowners who find themselves in this situation choose to consult with an attorney before moving forward.