Insurance company is delaying payment
In many ways, sinkhole insurance claims act differently than any other kind of insurance claim. While any other situation in which your insurance company is delaying payment may be concerning, this is often the case with sinkhole claims. So how do you know when this is normal, and when you need to get a lawyer involved?
Why your insurance company is delaying payment
If your sinkhole insurance company is advising you that they will not pay you until the repairs are completed, this is normal. Put simply, your insurance company is delaying payment on your claim because this is within the legal abilities of your insurance company, whether or not it is convenient for you or your home.
How this affects you
Besides your ability (or lack thereof) to fund the repair of your home and the sinkhole underneath it without payment from your insurance company, this wrinkle in the sinkhole insurance world may worry you about a variety of things:
- What does my actual policy say about this?
- What if I do not agree with the way the insurance company’s engineering firm wants to fix the property?
- What if the costs exceed my homeowner insurance policy limit?
- What if the sinkhole repair doesn’t work? After I sign the contract, then what?
Unfortunately, there is no easy, one-size-fits-all answer to these questions. They may vary widely from case to case, policy to policy, and the first place you need to go to calm your fears is to your insurance company. If your insurance policy does not touch on these potential situations, your insurance company hopefully has standards in place to correct these issues.
When to contact a lawyer
Unfortunately, this situation can be incredibly nerve-wracking, not knowing when or even if you’ll be receiving a settlement for your sinkhole repairs. This means it can also be difficult to ascertain when you should be seeking legal help.
Despite this uncertain law, your insurance company should be certain and consistent about the information they provide you. If you feel they are giving you the run-around or are being told different stories, it’s time to step in for legal advice.
If you’re at all uncertain about the information you’re receiving from your insurance company while they’re handling your claim, do not hesitate to contact us for a free consultation.