After you have suffered a loss to your property, you can often take comfort in the fact that you had the foresight to protect your investment with property insurance. But what happens when the property insurance you thought you had is much less than was represented or, worse yet, not even there?
In these cases, you must be prepared to ask your agent or broker some very serious questions about what went wrong.
Errors and omissions
Failure to obtain coverage
Theft of premiums
Failure to properly explore, explain and advise clients of appropriate coverage options
Failure to activate and/or renew coverage
Misrepresentation of benefits
Selling a surplus lines policy without following Texas law
Property insurance has a number of moving parts. There are several different types of coverage, co-insurance provisions, deductibles, and different combinations of all of the above. If you believe that your insurance agent was negligent or even dishonest with regard to the purchase and placement of your coverage, you may have a case.
Tim Hoch is Board Certified in Personal Injury Trial Law by the Texas Board of Legal Specialization.