If your provider seems firm on the settlement offer despite the concerns you’ve raised, you might consider hiring a third party to review your claim, such as an appraiser.
A denied claim can be challenging, but an inadequate settlement can be just as bad. Many homeowners feel insulted when they are offered settlement amounts that are seriously inadequate, as they believe they are being “low-balled” by their provider. In many ways, this belief is well-justified. Insurance companies do try to offer the lowest possible settlements they think they can get away with. That’s all well and good for their profit margins, but you need enough money to repair your home. So what do you do now?
It’s always a good idea to hire a qualified, experienced attorney in Illinois who specializes in denied homeowners insurance claims. These legal professionals can help you go over all of your options during your initial consultation. Once you’ve determined the best course of action, your attorney can then guide you forwards towards a positive outcome. As you’ll see, there are many potential solutions to this problem.
Contact Your Provider
The first step is to contact your insurance provider and let them know that you feel the settlement offer is woefully inadequate. It’s always a good idea to go through this internal process first and foremost, as it might have been an honest mistake. After they become aware that you’re not satisfied with the settlement offer, your provider will likely review the claim once again and make sure they got their numbers right. That being said, you should also review your claim before complaining, as you might have also made a mistake in your own calculations. If your provider fails to respond in time, this may form the basis for a lawsuit.
Hire a Third Party
If your provider seems firm on the settlement offer despite the concerns you’ve raised, you might consider hiring a third party to review your claim, such as an appraiser. These professionals can go over your claim once again in an unbiased manner and provide you with an independent appraisal.
Take Legal Action
If the above options seem to have no impact, it’s time to take legal action. Once you get in touch with an attorney, you can explore various options, such as a bad faith lawsuit. You can also report what you believe to be unfair treatment to Illinois’ state insurance department. This organization oversees all matters related to insurance.
Enlist the Help of a Qualified Attorney Today
If you’ve been searching the Chicago area for a qualified, experienced attorney who specializes in denied homeowners insurance claims, there are plenty of legal professionals waiting to assist you. These attorneys can help with many issues you might be experiencing with your claim, including inadequate settlement offers. With their help, you can strive towards a fair, adequate settlement that reflects the true extent of the property damage. Book your consultation today.
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