Property Damage Insurance Claim Attorney in Minnesota
Property damage, especially when it involves your home, can lead to significant financial hardship. Storm, fire, and water damage can lead to substantial property damage. If you have paid years of premiums, you expect your insurer to respond promptly and help. If your insurer is not adequately addressing the full extent of your property damage, you may need to contact a Minnesota property damage insurance claim lawyer.
Minnesota Construction Law Services keeps the simple simple
Hire a Property Damage Insurance Claim Lawyer
If your insurer has denied a legitimate claim, made a low settlement offer, or is delaying payment of an approved claim, the team at Minnesota Construction Law Services can help. We can provide legal representation in property damage recovery claims. If you are struggling with your insurance company to resolve your property claim issues, we may be able to pursue fair compensation for your losses.
An experienced lawyer can help ensure that your claim is handled effectively and you receive the compensation you deserve. Common indicators that you should hire a property damage claims lawyer include:
- Claim denial. A lawyer can review your policy and the insurer’s denial and formulate a strategy to overturn the denial.
- Claim underpayment. A property damage claims lawyer will have the skills to negotiate with the insurer and help secure a fair settlement.
- Total loss or extensive damage. In cases that involve significant damage, a property damage claims lawyer can oversee the valuation and recovery process to ensure you receive compensation that reflects the true extent of your loss.
- Dispute over the value of the claim. If you and the insurer disagree about the value of the property damage, an attorney can orchestrate an independent appraisal and use that information to negotiate with the insurer.
Most damage claims can be settled out of court, but sometimes it is necessary to pursue a legal case. A willingness to pursue a court case can provide leverage when negotiating with an insurance company. In many cases, the insurer will prefer to avoid the uncertainty and cost of a trial.
In Minnesota, property insurance claims are civil matters. If the case is complex or for over $15,000, it will be heard in the state’s District Court. The District Court in Ramsey County is located at the Ramsey County Courthouse, 15 W. Kellogg Blvd., St. Paul, MN 55102.
Understanding Your Policy
Insurance policies can provide different compensation based on the type of coverage you have. An actual cash value (ACV) policy will only pay the depreciated cost to replace or repair your property damage. Replacement cost value (RCV) coverage covers the cost of replacing or repairing your property damage without deducting the cost of depreciation.
The insurer typically considers the condition of the property at the time it was damaged or lost, how much a new item would cost, and the estimated lifespan of the new item to determine the depreciation value.
If a homeowner has an ACV policy, they may be shocked by the gap that exists between the bid from the contractor to repair or replace the item and what the insurer will pay. It is important to remember that the contractor is not an agent of the insurer, and their estimate reflects the actual cost to repair or replace.
According to 2023 data from the Insurance Information Institute, 5.3% of homes had a claim, and of those, 97.3% involved property damage. The most common types of property damage included:
- Wind and hail: 42.5%
- Freezing and water damage: 22.6%
- Lighting and fire: 21.6%
- Theft: 0.6%
- Other property damage: 10.0%
During the claims process, it is paramount to clearly document the issue and provide this information to your insurer. You should provide video or photographs of the damage, estimates to repair the damage from an insured contractor, and a list of items that were impacted with receipts, if possible. It can also be helpful to reference the applicable parts of your policy that apply to the claim.
FAQs
An insurance claim lawyer can handle insurance claims and assist policyowners when claims are delayed, denied, or underpaid. An insurance claim lawyer can negotiate with the insurance company on behalf of the policyholder, lead a claim investigation, and provide representation during litigation. An experienced lawyer may be able to negotiate a higher payout and navigate high-value or complex cases due to their deep understanding of property damage insurance claim laws.
In Minnesota, an insurance company must follow a timeline mandated by the state when investigating a claim. Insurers must acknowledge the claim within 10 business days. Insurers have 30 business days to complete the investigation. A decision of payment must be made within 60 business days after receiving the proof of loss. Settled claims are typically paid within 60 days. If the insurer experiences a delay, they must provide an explanation in writing to the policyholder.
You should avoid admitting fault when filing a homeowners’ insurance claim. It is prudent to wait until the investigator has completed their work before discussing specific causes. You should be careful not to downplay the damage. It is also in your interests to document all correspondence with the insurer, including a detailed summary of all conversations, the individual’s name and title that you spoke with, and the date and time.
The worst thing that can happen after filing a home insurance claim is the non-renewal or cancellation of your policy. If you have filed multiple claims within a short period of time, your insurer may decide not to renew your policy. If your policy is not renewed, you may have difficulty finding another insurer. A national database called the Comprehensive Loss Underwriting Exchange tracks claim history for a period of seven years.
Minnesota Property Damage Insurance Claim Lawyer
The legal team at Minnesota Construction Law Services can help with property damage insurance claim issues like denials, underpayments, and delays by handling appraisals, negotiations, and, if needed, litigation, to ensure you receive fair compensation. Contact our office to schedule a consultation. With our experience and knowledge on your side, we can help you confidently keep moving forward.
