Anyone who suffered damage to their home, submitted a homeowners’ insurance claim, and had that claim approved.
What's Going On?
Attorneys working with ClassAction.org are investigating whether insurance companies are properly paying out these claims. Reports have surfaced that some insurance companies may be ripping off policyholders – and the attorneys are looking to help these homeowners take action.
Is There Any Proof?
At least one lawsuit has been filed alleging that the insurance company took too much out of the plaintiff’s payment. More detail on the alleged practice can be read below.
How Can a Lawsuit Help?
You may be able to collect the difference between the amount you were paid and the amount you should have been offered.
What Can I Do?
To learn more about this investigation and what you can do, fill out the form on this page. One of the attorneys handling this investigation may then reach out to you directly.
If your homeowners’ insurance claim was approved following a fire, storm or other unexpected event, it’s possible that you may have been ripped off.
Allegations have surfaced that some insurance companies are engaging in a scheme in which they intentionally deduct more than they should from policyholders’ claims in a way that consumers may never even notice.
Attorneys working with ClassAction.org are now investigating whether this is an industry-wide practice – and whether homeowners can sue to get their money back.
How Could I Be Missing Out on Money?
Assume that a storm hits your home and damages your living room windows. Your insurance company sends out an inspector who determines that the damage is indeed covered under your contract.
The adjuster may then provide you with an estimate of loss that determines how much it will cost to remove and replace your windows. In that estimate, the company will typically deduct a certain amount for “depreciation of materials” because, as your windows age, they become less valuable.
In an effort to save money, however, some insurance companies may also be depreciating labor costs even though the cost of labor does not depreciate over time.
The worst part is that policyholders won’t even realize that they are losing money because many insurance companies’ estimate of loss paperwork will include both labor and materials on the same line. These line items are often marked “R&R,” which stands for repair and replace, making it impossible to determine what costs are actually being depreciated.
What Started This Investigation?
Attorneys began looking into this matter after a handful of lawsuits were filed accusing insurance companies of taking advantage of their customers. In one lawsuit filed in Minnesota, State Farm was accused of illegally depreciating labor costs – which, unlike materials, don’t go down in value over time.
How a Class Action Lawsuit Can Help
It is believed that these insurance companies are not acting in accordance with state law or following the contract terms they set with policyholders. If attorneys working with ClassAction.org can speak to enough homeowners who had their insurance claims approved, they may be able to file one or more class action lawsuits. Through a lawsuit, homeowners may be able to recover the difference between what they were paid and what they should have been paid, as well as help ensure the company is honest in future dealings with its customers.
What You Can Do Now
If you’re interested in learning more about this investigation, fill out the form on this page and get in touch.
After you contact us, one of the attorneys we work with may reach out to you directly via e-mail or phone to ask you a few questions and address any concerns you may have.
They are offering to review your insurance contract and other paperwork to determine whether your loss was valued properly. If not, they may be able to help you start a class action lawsuit on behalf of yourself and other policyholders to get your money back. It doesn’t cost anything to talk to these attorneys or to have them review your files – and you’re not obligated to take any legal action after getting in touch with us.