Renters Insurance Lawyers in New Orleans
The renters insurance lawyers from the Weiser Law Firm can help you navigate the complex process of filing an insurance claim and then fighting to receive a fair payout. There are two basic insurance policies for renters available in Louisiana: Broad form policy and the comprehensive form policy. First, the broad form policy provides coverage for personal belongings inside the dwelling for specific events listed in the policy itself. Examples of listed damage-causing events are fires, vandalism, flood, wind damage, and others. All other damage-causing events not listed in the policy are not covered.
The comprehensive form insurance policies for renters covers a wide range of damage-causing events unless the event is expressly denied coverage in the policy. These comprehensive form policies frequently have higher premiums. Renters insurance is the only way to protect your personal property in a rented unit or apartment.
Why was my Claim Denied?
Renters insurance claims are denied for a plethora of reasons. Negligence is the most common reason behind claims denials. An example of negligence, occurs when there is a fire in your apartment. However, you were the one who started the fire by lighting fireworks inside the unit. In this case, the insurance company will deny the claim because of negligence. However, this example is one of the many reasons an insurer might deny your claim. The seasoned renters insurance lawyers from the Weiser Law Firm have the experience and skills necessary to get you the pay out you deserve.
Actual Cash Value vs. Replacement Cost
Renters insurance policies will have actual cash value coverage that reimburses the property value at the time of the loss. In other words, the policy will pay out the cost at the time of the loss minus depreciation and the deductible. On the other hand, a replacement cost pay out occurs when the policy covers the cost of replacing the damaged property. Actual cash value payouts are more common in renters insurance policies but replacement cost pay outs are available at a higher premium. Call the renters insurance lawyers at the Weiser Law Firm today for a free case evaluation.