Oklahoma City First Party Property Insurance Attorney
A first party property insurance policy is defined as being a contract between an insurance company and an individual or business entity that is designed to provide financial coverage for the repair or replacement of physical property in the event of damage or destruction to an item that is listed on the policy.
However, with damage claims amounting to BILLIONS of dollars in the US in 2011, insurance companies are looking for every possible option to pay the absolute bare-minimum for a claim, or to preferably not pay anything at all.
If you or someone you love has had their first party property insurance claim denied or has received less than expected, we can help.
To find out more, simply fill out the “Free Case Evaluation” form located to the left.
Common Sources of Damage
With the amount of statistical data that is available, most insurance companies are aware of the primary causes of damage to property and will generally factor that into the pricing of the policy.
Some of these most common sources include:
- Water
- Wind
- Fire
- Smoke
- Lightning
- Water heater failure
- Vandalism
- Theft
- Ice / Snow
- Automotive
…. Just to name a few.
However, it’s important to keep accurate records of any damage, so that in the event of needing to file a claim for compensation, you are able to determine the likely cause and extent of the damages. In most cases, simply taking some clear photos of the damage with a cell phone camera and documenting any damage is a good place to start.
Types of Available First Party Insurance Coverage
While there are a variety of policies that insurance companies can custom-tailor to your specific needs, most policies will fall into two primary categories that cover the types of damages that can cause the holder of a policy to file a claim.
These include:
Environmental Coverage – this type of coverage is generally considered the largest as it offers provisions for damages that can be caused by environmental factors.
Some common elements include:
It’s also important to note that many policies will NOT provide coverage for all of these potential areas of damage. Therefore it’s a wise choice for insurance policy holders to carefully review their policy to ensure that their coverage needs are being met.
Commercial Coverage – as the name implies, commercial coverage provides insurance for damages that may be incurred at a place of business.
Some of these many include:
- Business interruption
- Fire
- Professional liability
- Dishonesty and embezzlement
- Employment practices liability
- Directors and officers liability
- Automotive
It’s worth considering that the pricing of these policies can vary greatly depending on the location of your home or business, as certain areas have proven to be more susceptible to environmental or commercial damage when compared to other areas that are less “at risk”.
Claim Denied? Contact Our Oklahoma City First Party Property Insurance Attorney Today
The lawyers of the Arguello Law Firm understand how frustrating the claim application process can be, and are compassionate to those that have had their property damaged or destroyed.
If you or someone you love has a filed a first party property insurance claim and have only received a small percentage of the replacement value of the items – or had the claim completely rejected – we can help to fight for your compensation benefits.
With more than a decade of combined experience in handling insurance claim cases, our team of attorneys can help to assemble a robust argument for your damages and then take up the fight with the insurance company and it’s underwriters.
Our office is conveniently located in Oklahoma City OK and we proudly provide Oklahoma residents with comprehensive, cost-effective legal counsel for insurance claim victims in:
- Oklahoma City
- Del City
- Midwest City
- Warr Acres
- Edmond
- Norman
- Shawnee
…. And most other cities and towns that are close to these areas.
We have a hard won reputation of standing up for the rights of individuals – not large firms and corporations – and will fight for your MAXIMUM insurance compensation.
To find out more, contact us today at 1-800-25-STORM (1-800-257-8676). Our intake staff are ready to take your call and after some initial questions about the nature of your call, you will be quickly connected to one of our lawyers that is best suited to handling your specific case.
Alternatively, simply fill out the “Free Case Evaluation” form located at the top of this page – it’s strictly confidential and 100% FREE to submit.