House burnt down, Should we have problems getting the total amount our house is insured for? We r having problems with ACIC for $167,000 + 20%. Help!

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House burnt down, Should we have problems getting the total amount our house is insured for? We r having problems with ACIC for $167,000 + 20%. Help!

Our house burnt down, we are rebuilding and we feel that ACIC is makeing it very hard to get the $167,000 and 20% over, that is what our policy states. We have done everything they have asked, got 3 bids and now we seem to be jumping threw hoops. They came back at 111,000 and you can not build a house for 77 sq/ft. Do we need a lawyer? Shouldn’t we be get what our house was insured for? Why pay for a policy and not be able to use it? It just seems very strange. HELP

Asked on June 28, 2009 under Real Estate Law, Ohio

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Insurance law is often a very tricky subject;  it differs somewhat from one state to the next, and I don't practice in Ohio.  However, most states' courts favor the policyholder over the insurance company in borderline cases, so I think that you easily have enough at stake here to make it worth talking to a lawyer about this, for reliable advice based on all of the facts.  One place that you can find an attorney to help with this is our website, www.attorneypages.com

Sometimes, insurance companies deny claims, or try to pay less than what you're entitled to.  But if you're not satisfied with what the insurance company says, that's not the end of the matter.  Talk to a lawyer, and know your rights.


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