When your Massachusetts home sustains damage, you may expect your insurance company to cover the cost of repairs. Sometimes, though, your homeowners insurance may not offer the settlement you were expecting. In this situation, it is important to know what you can do.
When you disagree with your insurance company, one option available to you is an appraisal. Nerd Wallet says that an appraiser representing you and one representing the insurance company would look over your house. If you choose to have an appraisal, it is important to remember that the insurance company may not offer a larger settlement. The point of this solution is to ascertain the full financial cost of the damage. Insurers may see the numbers and still offer the original settlement.
It can be a good idea to look over your insurance policy. Different policies offer varied types of coverage and your policy may not cover all of the damage your home sustained. You may also want to ask the insurance company to do a second inspection of your house. You might have already spoken to contractors about repairing the damage and it is a good idea to have one of these professionals attend the inspection so he or she can point out damage an adjuster may have missed, such as mold. It is also a good idea to write down everything your insurance company says about the claim so you have a clear record.
In some situations, you may want to consider mediation. This means you and a spokesperson for the insurance company would sit down with a third party to solve the dispute. This solution may be ideal if you need to find a resolution quickly. However, it is important to remember that this process may not be binding. Neither you nor the insurance company technically has to carry out the agreement if one of you is dissatisfied.
This information is intended to educate and should not be used in place of legal advice.