..."Hurry up and fix!" Is an Assignment of Benefits the solution for you?
What is an assignment of benefits? Sometimes an accident to property requires immediate attention, requiring homeowners to begin immediate repairs before settling the claim with the insurance company. Often, homeowners are asked by contractors or repair services to assign over their benefits to a third-party contractor. The assignment of benefits is attractive to homeowners because they often avoid upfront costs and the insurance company pays the contractor directly.
The trouble with Assignments of Benefits? If the insurance company argues the claim is not covered, tries to settle the claim for less than the cost of the repairs, or disputes certain expenses, the homeowner’s troubles begin. Since the contractor is simply seeking payment for repairs, they may not have the tools or experience to successfully negotiate with the insurance company. The contractor is then in a position where they may be unwilling or unable to finish the repairs because of the delay in payment or denial of coverage. Contractors may then turn to the property owner for payment.
An experienced lawyer can help you navigate through these issues. After all, insurance companies often have attorneys working for them. Jiron Law, P.A. is here to aggressively pursue your rights, whether through out-of-court negotiations or through litigation. Call Jiron Law, P.A. to schedule your initial consultation and to discuss how Jiron Law, P.A. can meet your goals.