Underpaid insurance claims are much more common than wrongfully denied insurance claims. Insurance companies have learned that underpaying claims—even by five or ten percent—can save them millions of dollars and that their policyholders often don’t take the effort to fight back.
If you believe you aren’t being offered enough for your insurance claim, you can and should fight back. When you bought your policy, and when you pay your premiums, you are holding up your half of the contract with the insurance company. When they pay your claim, they are holding up their half of the deal. If they underpay your claim, they are acting in bad faith and breaking the law.
If you think that your insurance claim has been underpaid, closely read your insurance policy and review your coverage closely. After that, contact your insurance company, and ask for a detailed explanation of how they calculated the amount. Be sure to keep a record of what they say and any paperwork they send you. Next, consider getting an independent adjuster to assess your damage and estimate repair costs. Finally, if your insurance company is still attempting to underpay (or delay) your claim, consider contacting an insurance claims attorney to review your case and fight for your cause.
When your insurance company underpays your claim, you are not getting enough funds to fix or replace your damaged property. In addition, when you do not fight the underpaid claim, you are allowing the insurance company to get away with cheating its customers—and showing them that their appalling tactics work.