Greetings Real Estate Investors!
Although it has been almost two years since Hurricane side swiped South Florida it is actually not too late to file a claim against your insurance company for losses to your properties. The actual deadline to file is 3 years following the landfall of the hurricane. Driving around town you have no doubt seen the countless billboards or heard the radio ads by attorney’s who are seeking to sue your insurance company.
Is this a scam?
There are so many ads that it might raise your Miami scam alarm. And given that we are the scam capital of the world we would of course advise you to choose your attorney very carefully. Additionally this practice has become so ubiquitous that you could probably just contact your regular attorney and have them file the paperwork for you.
Are your losses from the storm?
It may seem even more shady to be claiming losses from a storm that happened 2 years ago. However, the reality is that many of the indirect losses from water and wind damage are difficult to notice upon a regular inspection of your home. A trained inspector with the proper detection tools would be able to determine if the interior of your walls and ceilings have sustained water damage. Of course you should have some way to show that the property was dry prior to the storm. But even if you do not have those records you should you at least attempt to see if your property has sustained water damage because it is most likely the case that significant damage would have occurred from such a devastating event as Hurricane Irma.
Let the attorneys earn their fees…don’t pay up front.
As in the vast majority of legal matters the attorneys are paid well for their specialized knowledge of the legal world. They understand much more than we do what can and cannot be accomplished in terms of a claim for your property. Most are charging around 20-40% of the monies they recover for you and you should definitely not pay anything up front. You should only pay if and when you receive a payment from the insurance company, so make sure that you don’t. Any reputable attorney will only take up a case if they feel reasonably certain that they will get paid, and thus you will get paid.
If you have any other questions about residential real estate investment contact us at 305-517-3900.
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