Merlin Law Group’s Post

View organization page for Merlin Law Group, graphic
Merlin Law Group

2,843 followers

An excellent legal article about the history of Florida’s attorney fee statute and its demise referenced in today’s blog post. https://hubs.ly/Q02G4c9Q0 #policyholder #law #Florida #insurance

The History and Demise of Florida Laws Protecting Policyholders When Insurers Act Wrongfully | Property Insurance Coverage Law Blog

The History and Demise of Florida Laws Protecting Policyholders When Insurers Act Wrongfully | Property Insurance Coverage Law Blog

https://www.propertyinsurancecoveragelaw.com

David M. Morano

GC - FL, LA / Large Loss Consultant / Estimator / Appraiser / Umpire / Adjuster

1w

So with the attorney fee statute and now the matching statue also in demise it doesn’t appear reasonable for a homeowner to purchase insurance, except for the requirements from the mortgage company. If the mortgage companies actually took notice and inspected a loss where the 1% matching limitation was applied to the claim and actually saw the mismatch and reduction of value in the property and their asset, they might want to hop on the other train. When you breakdown a Premium for a $4-500,000.00 home, it will probably run 4-5k per year. With the 10k water limit and 1% matching endorsement, and EMS costs per your duties after loss and deductible, you might net $3,500.00 for your claim, if it’s not denied. Why would you pay 4-5k premium to get $3,500 back? Was this the original intention of property insurance? This isn’t consumer friendly or mortgage company friendly as it’s devaluing the asset. It sounds like one greedy politician is lining his pockets with our hard earned money. What will it take to rewrite History again?

Like
Reply

To view or add a comment, sign in

More Relevant Posts

Merlin Law Group

2,843 followers

View Profile

Explore topics