Claimants who successfully win their due compensation from an insurer will be put in the position them should have been in had the insurance company complied with its obligations under the policy in the first place. This means that you will receive the amount of your covered loss less any deductible that is your responsibility. The coverage may include any building materials needed to repair or rebuild the property, including the cost of hiring professionals to do the labor. In cases of commercial claims, businesses may be entitled to coverage for equipment or business asset damages. Also, some degree of emergency funding is available for many residential claimants to cover basic housing needs after a home is damaged. Your policy will set forth what you are owed. In addition, a successful claim can recover the amount necessary to cover the attorneys’ fees associated with prosecuting the claim.
For more information about how these lawsuits work and how we may be able to help, contact the insurance bad faith attorneys of Williams Hart today by calling (713) 352-0031.