Paid Below Deductible?: Here’s What You Should Do

Dec 15, 2018 Jane Smith

Were you paid below deductible? Should you pursue it or just accept it? Read on to find out what you should do.

One in twenty insured homeowners makes a claim with their insurers every day. This means there are constant payouts being performed by insurance companies.

Many insurance companies are known for their honest policies and practices.

But it is important at the end of the day to remember: insurance companies are just that. Companies. It is their job to keep you insured, but it is also their job to ensure profits are coming in.

This can have an effect on your payout from a claim. Yes, you pay a deductible, but at times, insurance companies will pay you below the deductible.

If you were paid below deductible, and do not know what to do, scroll down to learn more about your options.

Should You Accept the Insurance Company’s Offer?

First and foremost, it is pivotal for you as the insured to know that you don’t have to accept the insurer’s first offer.

These checks can be hard to pass up, even if it is way below deductible, and you know that it will not cover all the damage. This is especially a hard decision to make if you have had excessive damage happen to your home, i.e., the destruction of Hurricane Michael made this past hurricane season.

However, take a moment to think about insurance the way you think about all other services in your life. If you only have seven eggs in the carton of a dozen, or two pieces of the three-piece suit you purchased, would you accept this and move on with your day?

You pay a deductible, whether a set number or percentage, every month. And it is the responsibility of the insurance company to fulfill their end of the bargain.

So, if you have the opportunity to deny the first offer: do as such. In most cases, it will still be waiting for you.

What is the Next Step to Take if I Decide to Deny the Insurance Company’s Below Deductible Offer?

If you say no on your first offer, don’t worry. There are people professionally trained to help you with this.

The law is on your side: you have the right to have your home reappraised.

The first thing you will want to do is find a reputable public appraiser to reappraise your claim.

Finding the right public appraiser will make all the difference in the world for you. Not only will they do the reappraisal, but they almost always also talk and negotiate directly with your insurance company.

You could try to file again on your own, but public appraisers are trained to deal with every facet of your insurance claim.

They may even be able to get you more than you thought. Because appraisers have to be certified and are much more accustom to looking at: storm damage, water damage, mold damage, etc., they may catch expenses a non-professional cannot.

Make the Smart Choice for You and Your Loved Ones: Get a Reappraisal

If you have the ability to deny the insurance company’s below deductible offer: it can be one of the smartest long-term investments you make for you and your family.

Several public appraisers come out for a free consultation and to look at the damage. Many people don’t even have a proper insurance estimate the first time around. So, having them come out gives them, and you, the ability to have a new individual claim that better fits your needs.

You pay your deductible. Don’t settle when there are resources like public appraisers to aid you through the whole process.

Were you denied, paid below deductible, or have worse damage than you did for your original claim? Let our family help yours! Do not hesitate to contact us at any time.