Insurance is a vital part of owning property in New York, and the right policy can protect you from suffering extensive losses in the event of an accident or other issue involving your property. Not all insurance companies honor their commitments, however — and that is where the real estate litigation team at Levy Goldenberg LLP comes in.
If your insurance company has denied your claim, you may have a right to dispute the decision. A New York City commercial litigation attorney from our team can fight to protect your rights and take on your insurance company on your behalf. To learn how we can help you, contact Levy Goldenberg LLP to schedule a consultation today.
How Insurance Disputes Arise
Under ideal circumstances, your insurance contract would clearly spell out the terms of your coverage. The insurance company’s responsibilities would be explained in detail, as would your obligations. Likewise, the consequences that each party would face if they violated these obligations would be described with precision.
However, even the best insurance coverage contracts can have ambiguous terms and oversights that leave you with more questions than answers. These gaps allow insurers to try to deny you coverage for any number of reasons, such as:
Your Type of Loss Is Not Covered
The insurance company may try to claim that you are not insured for the specific type of loss you experienced. If your loss is not covered under the terms of the policy, your insurer has no obligation to pay your claim.
For example, your business insurance policy may not cover claims relating to water damage and may thus deny a claim you file following a leak in your office’s restroom facilities.
The Time for Filing a Claim Has Passed
When you have a claim, you must take care to file it swiftly with your insurance company. Such requirements often have the benefit of giving your insurance company the ability to investigate your loss. If you fail to file a claim in time, your insurance company could use the delay as a reason to deny you coverage.
You Have Not Paid Your Premiums
Insurance coverage is dependent on paying your insurance premiums on time. Non-payment of your insurance premiums can result in an immediate suspension of your coverage, and a claim for any loss you experience during such a suspension period could be denied.
Unfortunately, such suspension may occur with little warning, even if your failure to pay was not your fault.
When an Insurer Offers Less Than What the Claim Is Worth
Sometimes, the insurance company understands that it must pay your claim but does not offer you the full amount of benefits to which you are entitled as a way of attempting to protect its bottom line.
For example, your building may have suffered $50,000 in damages, but your insurer may only offer you $30,000 even though the full amount of the loss is covered.
No matter how your insurer has mishandled your claim, a skilled commercial litigation lawyer with Levy Goldenberg LLP can fight to ensure you receive the full benefits you are entitled to
When you hire us, a New York insurance dispute lawyer from our team can gather the necessary evidence and seek a settlement with your insurer. If your insurer will not do what they are contractually required to do, we can take your case to court.
Damages Available in NYC Insurance Disputes
A successful insurance dispute case leads to you receiving damages for the harm you sustained. This includes compensation for the original amount the insurance company was supposed to pay.
For instance, if your insurance company wrongfully denied your claim for $30,000, a lawsuit against your insurer would seek the payment of that amount. Beyond these damages, a successful lawsuit against your insurer can also lead to other extracontractual damages.
Such damages could be available when your insurer unreasonably denies your claim or does not act to settle a claim in good faith. This compensation would be above and beyond other damages you would be entitled to receive.
Knowing how much your claim is worth is just one piece of information that your commercial litigation lawyer from Levy Goldenberg LLP can provide. With over 35 years of combined experience in real estate litigation at our disposal, we can carefully review your situation and accurately determine the compensation your insurer owes you.
Contact a New York Commercial Litigation Attorney Today
If you believe your insurer wrongfully denied your claim, it is vital to speak with a New York City commercial litigation lawyer from Levy Goldenberg LLP as soon as possible. You may have a right to dispute your insurance provider’s decision, but this right does not last indefinitely.
Our seasoned team can fight tirelessly to protect your rights and work to successfully resolve your dispute as swiftly as possible. Contact us to schedule your consultation with us today.