Anyone who submitted a claim to their homeowners' insurance for damage exceeding $10,000.
What's Going On?
We have reason to believe some homeowners are being charged for bank-required inspections after submitting claims for property damage – and we suspect this practice may be illegal. In many cases, homeowners may not even know they're being charged inspection fees because this amount is believed to be taken out of their "loss draft" checks.
What You Can Do:
If you submitted a claim to your homeowners' insurance for more than $10,000 in damage, get in touch with us today by filling out the form on this page. One of the attorneys we work with may then call or e-mail you to tell you more about this investigation and to explain how a class action lawsuit could help get your money back.
How Can a Lawsuit Help?
A lawsuit could help homeowners recover compensation for bank-required inspections and seek changes to company policies to protect the rights of homeowners.
ClassAction.org wants to hear from anyone who submitted a claim to their homeowners’ insurance and received a “loss draft” check following a fire, flood, hurricane or other catastrophic event.
We have reason to believe some banks are docking homeowners’ loss draft checks for inspection fees – and suspect this practice may be illegal.
Loss Draft Inspection Fees: What’s Going On?
When damage to a property exceeds $10,000, a number of large banks have special “loss draft” procedures. In these instances, the banks will hold on to the homeowner’s insurance “loss draft” check until after the homeowner has an inspection performed to confirm repairs are actually being performed.
It is believed that some banks are making homeowners pay for these inspections, a practice that we suspect may violate the homeowners’ mortgage agreements. In most cases, homeowners may not even realize they’re being charged for these inspections because the banks are believed to be taking this money out of the insurance proceeds.
What You Can Do If You’ve Received a Loss Draft Check
If you received a loss draft check for more than $10,000 in damage, it’s possible that you could have been charged these fees.
To learn more about what you can do about it, get in touch with us today by filling out this form. One of the attorneys we work with may then reach out to you directly to explain how you may be able to help get a class action lawsuit started against your bank. If class actions can be filed and are successful, homeowners may be able to seek compensation for bank-required inspection fees, as well as changes to company policies.