Florida Insurers are Bilking Customers: Almost Half of Insurance Claims Go Unpaid Even After Huge Rate Increases and Legal Protections Extended to Insurers by the Florida Legislature
Incomplete Information: Claims often get denied due to missing documents or errors in the submission.
Aggressive Claims Handling: Insurers are increasingly using aggressive tactics to delay or deny claims, often citing technicalities or policy loopholes.
Service Not Covered: The policy may not cover the service or repair.
Late Filing: Claims filed after the policy deadline are often automatically denied.
Coding or Billing Errors: Incorrect coding or billing information can lead to denials, especially in health insurance claims.
Perceived Unnecessary Procedures: Insurers may deem certain procedures or repairs as unnecessary.
Duplicate Claims: Filing the same claim more than once can result in denial.
The Impact on Homeowners The high rate of claim denials has compounded the hardships for Florida homeowners who are already dealing with increasing property damage from storms and record insurance company bankruptcies. Martin D. Weiss, the founder of Weiss Ratings, stated that this trend is severely impacting homeowner's ability to recover and rebuild.
Review Your Policy: Understand what is covered and why your claim was denied.
Gather Documentation: Provide additional information, such as photos, repair estimates, and eyewitness statements.
Contact Your Insurance Company: Discuss the denial with your agent and ask for potential next steps.
File an Appeal: Most insurance companies have an appeal process. Gather supporting documents and submit a formal appeal.
Seek External Review: If your appeal is denied, you can request an external review by an independent third party.
Consult a Lawyer: In some cases, it may be necessary to consult a lawyer specializing in insurance claims.
Moving Forward The high rate of unpaid claims in Florida highlights the urgent need for reform in the state's insurance market. Lawmakers must address the factors driving insurance costs and ensure that insurers are held accountable for their claims practices. Policyholders also need to be more informed about their rights and options when it comes to insurance claims. Until these issues are addressed, Floridians will continue to face the risk of being left unprotected when disaster strikes.
Thank you for reading this article. I would appreciate hearing what you think. Please hit the LIKE, SHARE, and FOLLOW buttons.
Get updates delivered to you daily. Free and customizable.
It’s essential to note our commitment to transparency:
Our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. As a platform hosting over 100,000 pieces of content published daily, we cannot pre-vet content, but we strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation.
Comments / 0