Undervalued Insurance Claims

Tulsa Undervalued Insurance Claims Lawyers

You work hard to pay your property insurance premiums. It’s only fair that you should get fair compensation to rebuild and recover when you need it. Unfortunately, deliberately undervalued insurance claims are all too common. You shouldn’t have to settle for less than what you are entitled to based on your policy terms. The lawyers at Holbrook Leavitt & Associates PLLC are here to advocate for your interests.

Call our Tulsa office at (918) 992-2330. We routinely work with homeowners in Broken Arrow, Oklahoma City, Norman, Edmond, and throughout Oklahoma.

Common Tactics Insurers Use to Undervalue Property Claims

Insurers often employ subtle tactics to minimize payouts. Here are some of the most common methods and how we can help counteract them:

Low Initial Settlement Offers

One of the most common tactics is presenting a lowball offer as an initial settlement. The insurer hopes that an overwhelmed or uninformed homeowner will accept the first amount offered, even if it’s substantially less than the actual value of the loss. This strategy is particularly effective after a disaster, when homeowners may feel desperate to access funds quickly.

Our dedicated lawyers and staff can conduct a comprehensive evaluation of your loss, comparing the insurer’s offer to the true cost of repairs and replacements. By presenting detailed evidence, such as repair estimates from contractors, we can counter low settlement offers and demand fair compensation.

Disputing Damage Estimates

Insurance companies might send their own adjusters to assess the damage, but these adjusters often work for the insurer’s financial interests. They may downplay the extent of the damage, attribute some of it to pre-existing conditions, or claim that certain repairs aren’t necessary.

To dispute the insurer’s damage assessment, we can involve independent appraisers or contractors with no allegiance to the insurance company. These experts are able to provide unbiased estimates that may more accurately reflect the true cost of repairs. With this evidence, we have the basis to challenge the insurer’s original assessment.

Misinterpreting Policy Language

Insurance policies are notoriously complex and filled with legal jargon that can be difficult to understand. Insurers may exploit this complexity to misrepresent coverage limits, exclusions, or deductible requirements. For example, they might argue that a specific type of damage isn’t covered, even if the policyholder’s interpretation suggests otherwise.

The lawyers and legal staff at Holbrook Leavitt & Associates PLLC work with these policies every day. We are well-versed in deciphering policy language. We analyze the fine print to determine whether the insurer’s interpretation holds up legally. If the policy’s wording is ambiguous, we can use consumer protection laws or legal precedents to argue for an interpretation more favorable to you.

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Blaming the Homeowner

Another tactic insurers use to undervalue claims is shifting blame onto the policyholder. They might argue that the homeowner’s lack of maintenance or failure to mitigate damage after the event contributed to the severity of the loss. For example, an insurer might claim that a roof leak caused by a storm was exacerbated by the homeowner not acting quickly enough to cover the exposed area with a tarp.

Our attorneys will work diligently to gather evidence aimed at refuting this victim-blaming strategy. Examples might include pre-loss photos showing the property’s condition or citing weather reports that demonstrate the impossibility of immediate mitigation. By proving that the homeowner acted responsibly and within reason, we may be able to dismantle the insurer’s attempt to shift blame.

Omitting Hidden or Secondary Damage

Insurers might focus only on obvious damage visible during their inspection while ignoring hidden or secondary damage. For instance, water damage inside walls, electrical issues, or mold growth resulting from the initial incident might not be included in the claim.

A counter-strategy can include bringing in specialists like structural engineers or mold inspectors to uncover hidden damages overlooked by the insurer. These expert evaluations can provide the documentation needed to include all aspects of the property loss in the claim.

Using Depreciation to Reduce Payouts

Depreciation is a legitimate factor in some claims, but insurers sometimes misuse it to lower settlement amounts unfairly. Instead of basing the payout on the cost to replace damaged items with new ones, they calculate value based on their age or wear and tear, even if your policy covers replacement costs.

We have the knowledge necessary to challenge the inappropriate use of depreciation and seek a correct application of the policy terms. If your policy guarantees replacement cost coverage, we’ll demand the insurer compensate you based on current market value rather than adjusted, depreciated amounts.

Threatening Claim Denial

Sometimes, insurers try and intimidate policyholders by suggesting that the claim might be denied altogether if they don’t accept the undervalued offer. This tactic preys on the fear homeowners often feel after suffering major property damage.

Knowing your rights is the best protection against bad faith behavior. With us in your corner, you don’t have to fear intimidation tactics.

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Turning the Tables on Insurers

Undervaluing property insurance claims is a strategy insurers use to protect their bottom line—but it doesn’t have to leave you vulnerable. Our lawyers are here to help level the playing field. You’ve been through enough. Let us handle holding insurers accountable and advocating for the fair policy settlement you deserve.

We work on contingency, so we don’t collect a fee until we’ve gotten you a settlement. You can have complete confidence that our interests and yours are aligned from the start.

Call our Tulsa office at (918) 992-2330 or contact us online for a free consultation. We offer virtual meetings for your convenience.

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