Insurance is a critical part of financial planning and protecting yourself, your family, and your assets. Most people purchase insurance to cover their liabilities, such as medical expenses arising out of accidents, motor vehicle repairs, or, in the case of home insurance, repairs to property damage from natural disasters.
However, there may arise a situation where your insurance company denies your claim, or offers you a payout that does not cover your damages. In such a situation, you may need to consider hiring an insurance lawyer. In this blog post, we will discuss when to contact an insurance lawyer in Edison, NJ.
When Your Insurance Company Denies Your Claim
There are situations where an insurance company may not honor your claim even though you feel that you meet all the criteria for compensation under your policy. An insurance lawyer at Milun Law Firm will help you understand your policyholder’s rights and obligations, the legal interpretation of policy language, and insurance regulations in New Jersey.
When You Are Offered an Insufficient Settlement
Insurance companies are profit-making entities, and their primary goal is to maximize profits. As a result, when they pay out claims, they aim to settle for the lowest possible amount. Sometimes insurance adjusters will offer you an amount that does not cover the full cost of your damages. For instance, suppose you suffer a loss that totals $30,000 and your insurance company only offers you $20,000.
An insurance lawyer in Edison, NJ can help you get the full compensation that you are entitled to under your policy.
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