Some householders go many years with out ever having to file an insurance coverage declare. For Clearwater resident Megan Layton, her first got here only a week after she bought a townhome in July 2020.
A easy undertaking so as to add extra insulation in her attic resulted in $60,000 price of harm after a employee from the insulation firm fell and broke a pipe linked to the hearth sprinkler system.
“I’m sitting downstairs and I hear what seems like a bathe turning on,” Layton stated. “I ran upstairs and (water) was simply pouring out.”
That is the second installment of “Housing Horror Tales,” an occasional collection exploring the trials and tribulations that Tampa Bay residents have skilled throughout a white-hot actual property market.
/cloudfront-us-east-1.images.arcpublishing.com/tbt/AT4RQVGNY5CIPFZZML6YZJKRTI.jpeg "Water through the ceiling and seeped into the floors of Megan Layton's new townhome after an insulation worker broke a pipe connected to her fire sprinkler.")
About half-hour handed earlier than she was capable of shut off the water. It had soaked by way of the ceiling, seeped into the flooring on the third story and broken her air con unit.
The snafu prevented Layton and her household from shifting into their new residence for one more six weeks whereas they waited for repairs to be made. What’s extra, Layton stated the insulation firm – Daniel Insulation – dragged out the claims course of and tried to keep away from paying the total quantity she was owed.
“They have been making an attempt to do it as low-cost as attainable and making an attempt to say that we have been making an attempt to get a free renovation on their dime,” she stated.
A consultant from Daniel Insulation stated he was not acquainted with the incident and that the corporate is beneath new possession as of April 2021.
As a first-time house owner, Layton stated hiring a public adjuster was a “saving grace.” for her.
Paul Handerhan, president of the Fort Lauderdale-based Federal Affiliation for Insurance coverage Reform stated insurance coverage contracts will be a whole lot of pages lengthy and full of legalese. That makes it laborious for the typical individual to advocate for themself with the insurance coverage firm.
“Hiring a public adjuster helps them transfer the declare ahead and get every part they’re entitled to,” he stated.”
A 2010 report from the state Workplace of Program Coverage Evaluation and Authorities Accountability discovered that policyholders who used public adjusters obtained funds that have been 574% greater for non-catastrophic claims and 747% greater for catastrophic claims.
Layton was capable of get every part she wanted mounted with out paying something out of pocket apart from the $2,500 deductible.
/cloudfront-us-east-1.images.arcpublishing.com/tbt/TZRXCQGPF5B3FCE3QTLZZGX6YQ.JPG "Megan Layton purchased her first home in the summer of 2020 and had to file her first-ever insurance claim within a week.")
/cloudfront-us-east-1.images.arcpublishing.com/tbt/RGP65367YREWVNXN6JWDUDTIBI.jpg "Follow trends affecting the local economy")
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Although all of the repairs have been accomplished in eight weeks, Layton stated the incident nonetheless haunts her.
Her first insurance coverage supplier pulled out of Florida in July 2021. When she went to search for a brand new one, each firm she spoke with informed her that as a result of she had already made a major declare, she must pay 1000’s of {dollars} extra every month for a similar protection.
“Now the one insurance coverage that’s reasonably priced for us is Residents,” she stated, including that her month-to-month cost has nonetheless elevated by about $700.
Handerhan stated that the majority Floridians have been impacted by the skyrocketing value of insurance coverage on this state. However these with prior claims can face larger hurdles.
“The extra claims you’ve got, the extra your insurance coverage can go up,” he stated. “For those who’ve had greater than three claims inside three years, lots of corporations received’t even underwrite you.”
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