Flood insurance is expensive and often-overlooked protection. The value of having flood insurance became startingly clear when Paducah and other parts of eastern Kentucky suffered catastrophic flooding in July 2022.
Unfortunately, many Kentuckians who have flood insurance have found that their insurance carriers still try to avoid paying valid flood insurance claims.
If an insurance carrier sold you flood insurance and has not responded properly to your Kentucky flooding claim, consult a qualified lawyer now. The attorneys at Morgan, Collins, Yeast & Salyer are ready to review your situation and discuss your options for demanding payment of your flood damage claim. We can determine whether your insurer is acting in bad faith and if so, hold the insurer accountable.
It takes Kentucky Courage to stand up to insurance companies that deny or underpay valid claims for flood damage. Our attorneys at Morgan, Collins, Yeast & Salyer take on big insurance companies and fight for the rights of policyholders like you. Call us at (877) 809-5352 or contact us online to set up your free consultation.
How Does Insurance Cover Kentucky Flooding?
Many Kentucky residents decline to buy flood insurance because the premiums are too costly and they think the risk of being flooded is remote. But homeowners insurance generally doesn’t cover flood damage.
According to one estimate, only 17,250 property owners across Kentucky have flood insurance through FEMA’s National Flood Insurance Program (NFIP), the public program that provides the vast majority of flood policies in the United States. Just 2,485 property owners in the 10 counties in eastern Kentucky that sustained significant flood damage in 2022 had federal flood insurance.
Others may have private flood insurance. Private flood insurance companies can offer coverage that is more affordable or comprehensive than NFIP policies.
NFIP policies offer as much as $250,000 for the structure of your home and $100,000 for your belongings. Private insurers can cover homes for up to $4 million and belongings for up to $500,000. Private coverage may pay to repair a damaged swimming pool, replace items stored in your basement, or pay for a hotel or rental while your home is being repaired after a flood. This is coverage the NFIP does not provide.
How Are Insurers Answering KY Flood Damage Claims?
People who have paid for flood insurance may find FEMA or private insurance carriers reluctant to pay when they file a claim.
A common tactic is for flood insurance providers to demand proof that damage to your home was caused by water and not by wind, which often precedes rising water in storms. Wind damage is covered by your homeowners’ insurance. Separate insurance companies may try to shift the responsibility and point to each other as responsible for your losses.
If you happen to have homeowners’ and flood insurance from the same carrier, they can declare all of your losses are covered by your homeowners’ policy and limit payment to its maximum.
How a Lawyer for Kentucky Flood Damage Can Help
Kentucky law addresses acts of bad faith by insurance carriers. Under the Kentucky Consumer Protection Act and the Unfair Claims Settlement Practices Act (UCSPA), victims can sometimes recover significantly more compensation than the actual value of their underlying insurance claim.
If you have a Kentucky lawyer experienced with bad faith insurance practices handling your claim, you will have a better chance of receiving fair treatment. You can feel confident that you will not be taken advantage of by an unscrupulous insurer.
The attorneys at Morgan, Collins, Yeast & Salyer can investigate your policy and your losses and work to recover what you are owed. We can submit a formal demand letter to an insurance company notifying them of your intention to file suit. If they do not respond appropriately, we will be ready to go to court to demand what’s right for you. We can also file a complaint with the Kentucky Department of Insurance.
Contact Us About Flooding in Paducah, Kentucky
The attorneys of Morgan, Collins, Yeast & Salyer understand how insurers operate, and we can help you get the evidence you need to prove that an insurance company has not responded to your claim in good faith. Call us at (877) 809-5352 or contact us online now to take advantage of a free consultation.
