Hurricane Katrina Claims
NEWS FOR MISSISSIPPI STATE FARM POLICYHOLDERS
On January 23, 2007, State Farm Fire & Casualty Co. agreed to settle hundreds of lawsuits and pay thousands of disputed claims brought by policyholders in Mississippi homeowners after their property was devastated during and after Hurricane Katrina. The details of the settlement include:
- $80 Million to 600 policyholders who brought suit against the company claiming they were denied coverage
- $50 Million to Mississippi policyholders who were denied claims but did not sue the company
- Potentially hundreds of millions of dollars more to other claimants that were denied coverage
On November 29, 2006, a federal judge sided with some homeowners in New Orleans that the language of some of their insurance policies was ambiguous when describing the differences between floods caused by "acts of God," such as excessive rainfall, and "acts of man," such as failing levees. Contact our Hurricane Katrina and Rita lawyers today to find out if your case is one covered by this new ruling.
If you are one of the thousands filing a claim because of Hurricane Katrina, you may run into some bad faith insurance. Every insurance company is obligate to settle claims with good faith, providing a fair dealing. Almost every state has laws that insurance companies must abide by. Settlements must take place within a reasonable amount of time as long as proof of loss is presented. Still, though proof of your Hurricane Katrina Claim may have been submitted properly, may insurance companies will still deny claims.
If you think you are the subject of a bad faith insurance claim, you will want to find the best lawyer to handle your claim. Many families do not realize that most home owners insurance does not cover flooding that is caused from hurricanes. Find a knowledgeable lawyer to determine your rights and an attorney that knows the laws in your particular area. An attorney that understands which damages can be filed and which can't will benefit you greatly and help resolve your claim quickly.
Though Hurricane Katrina brought with it many bad faith insurance claims, there is something you can do to help yourself. Get a lawyer that is experienced in filing claims against insurance companies. Many insurance companies are going out of their way to speculate when it comes to claims files. Along with true claims of damage due to Hurricane Katrina are many false claims also. Insurance companies may delay a response to your claim while investigating. Know that it is your right to a fast and thorough investigation into your own claim.
One homeowner filed an insurance claim for wind damage done by Hurricane Katrina. The estimated damage was $130,000 but her insurance paid her only $1,600. The insurance company claimed that the larger amount of damage was caused by flooding, which was not covered. A lawyer was able to help these policyholders by challenging the insurance company saying they had misled the insured. An attorney knowledgeable in this matter was able to help the homeowners reach a settlement and then rebuild their home to its original condition.
Let an understanding and experienced Hurricane Katrina insurance bad faith lawyers help you get your rightfully deserved compensation. Stop putting your life on hold. Contact us today.