A first time real estate investor (REI) in a hurry to close the deal can make a costly insurance mistake. You wouldn’t think that it would happen, but it does. No one calls the insurance agent and makes arrangements for the insurance coverage.
In some instances, it’s simply overlooked. At other times, the thought is
The fire claim you have isn’t finished and its almost the beginning of storm season in March. You really don’t need a double claim involving fire and storm damages. It’s hard enough to settle one claim. It’s a lot more complicated to resolve two claims to the same property.
Being accused of insurance fraud is a serious offense. Regardless of the circumstances, your reputation is on the line. In this case, State Farm was alleged to have defrauded the United States government by avoiding the payment of storm claims under homeowners’ insurance policies. State Farm was said to have improperly shifted the burden for
Fire has recently destroyed numerous business properties and completely shutting down their business operations. The damage is extensive. Almost like death, it is eerie to see businesses in full operation one day are totally stopped the next day.
Flames tore through the Great Smoky Mountains, killing at least three people, scorching hundreds of homes
Examinations under oath, "EUO’s", serve a purpose different from a deposition. An insurance company is regularly asked to make a decision about payment or denial of a loss involving a sizeable sum of money without any ability to subpoena witnesses to testify. Most policies provide for the taking of sworn testimony.
Like Attorney Parks Chastain
The statute of limitation under 12 O.S. § 95 requires that a lawsuit for breach of contract must be brought within five years if the claim arises from a written contract and within three years if the dispute comes from a contract not reduced to writing. The time in which to file the lawsuit starts at
A statute of repose as well as a statute of limitation is a legislative means of ending or terminating the time in which a lawsuit may be brought. "In practical terms, a statute of repose marks the outer time boundary for judicial enforcement of a substantive right whereas a statute of limitation interposes itself only
A homeowner hired a plumber to install a new sewer pipeline to his property in 1996. Many years passed until 2007 when a backup of raw sewage was allowed to seep into the home and damage the property. The homeowner filed a lawsuit against the plumber for breach of contract and the negligent work performed installing the
If the goal of both the insurer and the insured is to obtain a prompt resolution of a property damage dispute, appraisal is sometimes an appropriate means to end the discussion and allow everyone to move forward. I have seen appraisal used in $1,000,000.00 disputes and $5,000.00 disagreements.
The Supreme Court in Oklahoma has ruled the party
Code compliance or ordinance and law exclusions in property insurance policies are intended by insurers to prevent damage claims turning into windfalls for policyholders. These cases are often hotly debated by both sides. From the perspective of the policyholder, the insured wants coverage to return the house or building to the same or similar use as
