Given the recent weather-related insurance disputes, people in Texas are increasingly concerned about the limited options they have when they are seeking property insurance. Obstacles aside, it is imperative to have some form of insurance in case of a storm, fire, hail, leaks and more.
People often think about their legal strategies if the insurance provider denies the claim or there is an unreasonable delay in making the payments they were expected to. However, another problem that comes up is not a denial or a delay. It is simply the insurance company adjuster not calculating what the property owner deems a fair amount.
What if I disagree with the insurance adjuster’s calculation?
There are ways to combat what a policyholder believes is an unfair estimate. First, it is important to inform the company about the gap between the adjuster and what the policyholder believes should be paid. It is possible that it was just an oversight and can be rectified relatively easily.
If the company stands by its claim, the policyholder can ask for an appraisal. The company and policyholder will each hire a professional to appraise the damaged or destroyed property. A third appraiser will look at each estimate and make an objective determination. It is binding, so people should be cognizant of that. Each side must pay half for the independent appraiser’s services.
When the policyholder is still displeased with the result, filing a complaint with the Texas Department of Insurance is the next step. Since it is a regulatory agency, it holds sway with adjusters it oversees. This could be useful if the adjuster is being unreasonable in the policyholder’s view. If there is a legal violation, TDI can also help.
Having professional advice may be useful
Insurance claims can be complex and people are frequently focused on getting approved and receiving some level of compensation for what was lost. Another area of disagreement is the value of what was lost and how much it costs to replace or repair. For these circumstances, it is just as important to know what can be done to reach a fair resolution.