Flood Insurance Disputes Following Hurricane IreneMark Clore ·
Despite all effort and preparation, many families' homes were completely destroyed when Hurricane Irene ravaged North Carolina. Still 5 months after the disaster, many people are waiting for help. According to a recent article in the News and Observer, even those who paid lofty Hurricane coverage premiums are still waiting for help due to a shortage of available contractors and extensive mortgage company requirements preventing the distribution of insurance settlements. In the before mentioned article, a contractor named Cecil "Hank" Williams said:
"builders can't move faster when dealing with mortgage company requirements and low-ball settlements from insurance companies."It is an unfortunate truth that you will likely need an attorney to help you get the settlement you deserve. Contact the Clore Law Group today if you need help negotiating your insurance claim.
Insurance Claims are Paid to the Mortgage CompanyInsurance companies choose to release settlements to the mortgage company instead of the homeowner. As a partial owner, the mortgage company has a vested interest in the home's repair and they want to choose the contractors. They also makes their own rules regarding when to release the money and what they require from both the homeowner and the contractor to do so. Contractors are having to turn down jobs because the settlements don't cover their cost for doing the work. They have to stop for "mid-job" inspections required by mortgage companies. Some contractors are choosing to steer clear of jobs involving mortgage companies. The homeowners insurance coverage has no benefit if the contractors refuse the work based on the hassles created by mortgage companies.
Insurance AttorneysIrene left many families in North Carlina homeless. There are many people that need help and it takes time to serve all the victims; however, it is unconscionable that insured homeowners are still awaiting settlements more than 5 months after disaster struck. It is important to have an attorney's help when you have an insurance claim as large as those from Hurricane Irene. He/she will due the necessary research and hire independent adjusters as needed to ensure your settlement will cover repair or replacement.
Clore Law Group welcomes your questions about any issues concerning a serious personal injury, car accident, medical malpractice, nursing home neglect, business tort, or workplace injury. If you have a viable claim, we’ll explain the legal process. Since consultations are always free, there’s no cost in learning your legal options.