Property insurance pays for financial losses related to the insured property. For example, if you purchase a property insurance policy to protect your house, and a tree falls on your house, your insurance company will pay for the damages (if this type of damage is covered under your policy).
The most common form of property insurance is homeowner's insurance. If you have a mortgage on your house you are usually required to carry homeowner's insurance. If you own your home and don't have a mortgage, you still should consider homeowner's insurance as it can protect you from property damage and liability.
Homeowner's insurance offers two types of protection:
There are many homeowner's insurance companies and they offer different types of coverage. You should research how much coverage you need and which company is best for you, because your coverage will vary based on the policy you purchase. Some policies will cover things like falling trees, rain or storm damage, fire, and other disasters. Some policies won't cover them. You should know exactly what your policy covers before you purchase it.
The first thing you should do is making sure that your homeowner's insurance policy covers the type of damage claimed. If it doesn't, then there is nothing you can do. If you think that your policy does cover your property claim and your insurance company refuses to pay, then you should consider taking legal action against your property insurance company. Any lawsuit against your property insurance company may include a claim of bad faith.
If you have a difference in opinion with your provider over certain provisions of your policy, you may have to go to court to resolve the dispute. In this case, the court has what are called rules of construction for reading insurance policies. These rules tend to favor the insured over the insurer since the insurer wrote the policy and has an advantage.
Where there is more than one reasonable way to interpret whether a provision grants coverage of a certain property interest, the court will choose the interpretation that most favors coverage rather than denial of coverage.
Where there is more than one way to interpret a provision talking about coverage exclusion, the court will choose the interpretation that most narrowly defines that exclusion.
Yes. State law regulates insurance company practices, and as such every state has a Department of Insurance to make sure providers are following the requirements the Department has created. If you feel your provider did not handle your claim properly, you can complain to your local Department of Insurance, who should then launch an investigation of the matter.
Property insurance discrimination is the unequal treatment of people in obtaining property insurance without regard to legal rights or ability.
Insurance discrimination is manifested in two ways:
The federal law that protects you from being discriminated against when you apply for property insurance is the Fair Housing Act (FHA). The FHA prohibits discrimination in residential real-estate transactions based on national origin, race, sex, religion, handicaps, and familial status.
A victim of property insurance discrimination has a number of options including:
In order to state a claim under the Fair Housing Act, discrimination can be shown by one of two ways:
A dispute over property insurance or a casualty claim can sometime be complex. The dispute may involve a number of different legal concepts and conflicts. You will need to hire a business lawyer if you need assistance with an insurance claim or dispute
Last Modified: 11-19-2017 11:07 PM PSTLaw Library Disclaimer
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