THE INTERNET IS WRONG! WHY FILING AN INSURANCE CLAIM IS ABOUT MORE THAN INCREASING RATES AND EXCEEDING YOUR DEDUCTIBLE.

The internet has plenty of articles that discuss when an insurance claim should be filed or not. Examples can be found here, here, and here. The truth is, at least in Florida, delaying the filing of an insurance claim either because you think your rates will go up or because you think it will not exceed the deductible can hurt you if you ultimately decide to file a claim. The most common example that we see in our Read More

CASELAW WEDNESDAYS – FAILED TO SUBMIT A SWORN PROOF OF LOSS? HERE’S WHAT CAN HAPPEN

We have previously discussed the importance of complying with post obligations here. We have also discussed why an insured MUST comply with a sworn proof of loss request in a prior post. In short, if you have an insurance claim for your home or business in Florida, you need to make sure you follow all post-loss conditions in the policy, including submitting a sworn proof of loss to the insurer, in a timely fashion. Read More

Changes to Florida’s Attorney Fee Statute on Insurance Claims – Possibilities for Insurance Company Abuse

The enactment of Florida Statute 627.70152 has brought up many discussions regarding an Insurance Company’s good faith obligations to its Insureds. For more information on the enactment of Florida Statute 627.70152, read our previous blog post. A respected colleague, Jonathan C. Brown recently wrote how carriers can use the new statutory framework to leverage settlements and avoid lawsuits.  Mr. Brown is correct to a Read More

Changes to Florida’s Attorney Fee Statute on Insurance Claims

The Florida Legislature recently enacted changes to Florida Statute 627.428 which dealt with recovery of attorneys’ fees when an insured must sue their own insurance company. Senate Bill 76, which became effective on July 1, 2021, enacted various reforms to Florida’s property insurance market. One of the major changes was the enactment of Florida Statute 627.70152 dealing with the requirement to provide a pre-suit Read More

What Does a Financial Power of Attorney Actually Let You Do in Florida?

The power of attorney is an important part of many Floridians’ estate plans. Even if you haven’t gotten around to drafting your own estate plan, you’ve probably heard those words before. Far too often, unfortunately, you might hear those words on the news in connection with someone who has abused their power of attorney powers (the agent) and taken advantage of someone else (the principal).  The exact authorities Read More

Actual Cash vs. Replacement Cost Values in Florida Insurance Policies

After experiencing a covered loss, the most pressing question for many insurance policy holders is: How much will the insurance company pay for my claim?  In the context of property insurance, insurance companies pay out through one of two structures: actual cash value or replacement cost value. This blog will cover the key differences between these two compensation methods.  Replacement Cost Value: What is it? In Read More

Caselaw Wednesdays – My Florida insurance policy was canceled because of an alleged misrepresentation, now what?

When applying for insurance, you need to be careful to not give untruthful answers on the application. If you do, the insurance company can rescind the policy – they can return your premiums, cancel the policy, and not pay on any claims. The law governing rescission in Florida can be found in Florida Statutes 627.409.  Florida’s 3rd District Court of Appeals applied this law in Nembhard v. Universal Property and Read More

Why a Short Sale is a Good Alternative to Foreclosure

Homeowners struggling to make mortgage payments don’t want to even think about the “f-word.” In this context, the f-word is “foreclosure.” While it certainly isn’t the end of the world if your house gets foreclosed by your mortgage lender, it’s worth considering alternatives. One option for borrowers/homeowners who owe more than the house is currently worth should think about executing a short sale.  How Does a Short Read More

Caselaw Wednesdays – Should I cash the check the Insurance Company sent me?

Accord and satisfaction is a legal doctrine under which, when the creditor accepts payment tendered on the expressed condition that its receipt is deemed to be a complete satisfaction of the debt. In other words, when payment is presented on the express condition that its acceptance will settle the debt, and the creditor accepts the payment, the creditor cannot later claim that they were not paid in full and sue to Read More

CASELAW WEDNESDAYS – DID YOUR INSURANCE COMPANY INVOKE THE RIGHT TO REPAIR AND NOT TELL YOU?

We’ve previously discussed, here, what happens when an Insurance Company tries to invoke their option to repair under the insurance policy. Under Florida law, when an insurance company opts to repair damage instead of reimburse the policy holder, a contract is created between the insurance company and the policy holder that requires the insurance company to restore the property to its pre-loss condition. This is Read More