Wildfire Damages Recoverable Through Insurance Companies
Two large wildfires that occurred in High Park and Waldo Canyon in Colorado have sent thousands of people seeking to claim compensation through their insurance companies. Two of the largest insurers in the state claim that they expect to pay out significantly more in the coming months as more claims come in. It is estimated that the damage caused by the two fires may reach or exceed $450 million.
But not all insurers are willing to accept their losses willingly. Many homeowners are experiencing the frustrating reality of dealing with a claim for damages, as insurers seek to minimize their exposure in one of the following ways:
- Undervaluation of property
- Denial of claims
- Delays in claim processing
- Insurance bad faith
- Delays in payments
Homeowners who are still reeling from their losses are shocked at how insurers are compounding their problems. After years of faithfully paying fire insurance premiums with no claims made, it cannot be easy for homeowners to realize that insurance companies are in the business of making money rather than providing a safety net for their customers. But the fact of the matter is, keeping their payout for claims low is how insurance companies operate. However, this doesn’t mean that you should give up on your claim.
If you have encountered difficulties with your insurance company, you may need legal assistance to get the compensation you need for your case. Attorneys experienced in insurance claims cases may be able to help to bring action against your insurance company on your behalf. Having a legal professional by your side could not only speed up the process of getting just compensation for your fire damage, it could also compensate you for the time lost in pursuing your claim, as well as further pain and suffering you had experienced.