I have been thinking lately about all the tragedies we have been witnessing around American. Mother Nature has been very active and harsh on people. There was the tornado in Clinton and Quitman, MS. There were more tornadoes in Alabama that devastated the Tuscaloosa area and then the horrific tornado in Missouri. There are floods all along the Mississippi River and its upland tributaries, and then catastrophic fires in Arizona and other western states. I should not have to mention Katrina-the mother of all hurricanes that destroyed New Orleans and the Mississippi Gulf Coast.
The non profit organization United Policyholders conducted a study and determined that 60% of all homes in America are underinsured. This conclusion coincided with the report from the insurance industry sources. The home is probably the largest investment a person has these days and having it underinsured can result in a terrible financial tragedy.
I am an attorney who helps people with insurance problems and other kids of legal disputes. I have a love-hate relationship with insurance. I know a person needs insurance for various things in life, but I also see the way many insurance companies treat their policyholders when a claim in filed. If you remember nothing else from this article remember this: Your insurance company is out to make MONEY. Insurance companies did a study years ago when they wanted to make more money and the conclusion was that to make more money they needed to pay out less in claims. You could be one of the people who don’t get paid what you deserve if you are not careful.
I strongly recommend everyone join United Policyholders. It is a nonprofit company that has a wealth of information on insurance products. United Policyholders has many useful tips on how to pick a good insurance agent, how to insure your house, and so much more that can help you “level the playing field” when dealing with an insurance company or claims adjuster. There is even a website that will help you determine if you have your house insured for enough and it only costs $7.00. It does take time though to correctly fill out the information.
We are going to talk more in this series about the many different types of insurance and what a reasonable person might need and not need. We are not insurance agents and cannot advise you what to do when insuring you property or self. We can however give you advice on what we have seen and what Federal Agencies and other nonprofit groups have reported on different types of insurance.
When you have some spare time pull up the United Policyholders’ website and join. You can obtain so much free information. Joining is making a small contribution so United Policyholders can continue doing work that will benefit everyone who buys insurance products. And once you spend some time on the United Policyholders’ website, you will find yourself a more educated insurance buyer.
Other parts of this series will focus on auto insurance, umbrella coverage, credit life, credit disability, and types of credit insurance. We have been actively involved in many types of insurance litigation and can help educate you on things to watch for when buying insurance.
Merrida Coxwell is the managing partner of Coxwell & Associates. The firm’s main law office is located in Jackson, Hinds County, MS. The firm regularly practices in Madison and Rankin Counties as well as all across the State of Mississippi. The lawyers in the firm have vibrant, active legal careers in several areas of the law such as serious personal injury, criminal defense, bad faith insurance cases, consumer fraud, bankruptcy, improper debt collection practices and other such cases. Please refer to the bio’s of each attorney for more information. .
Disclaimer: This blog is intended as general information purposes only, and is not a substitute for legal advice. Anyone with a legal problem should consult a lawyer immediately.