Fault of Mortgage Company
Do you maintain an escrow account with a bank and make regular deposits for your taxes and insurance? If so it is the banks responsibility to make timely payments of these items from the escrow account, and their failure to do so can cause your insurance to lapse. If you are now being told that your insurance coverage has lapsed and you have paid all of the mortgage payments it could be the fault of the mortgage company for not paying the coverage.
A lapse in insurance occurs when there is a failure to pay any premiums or renew the existing insurance policy. The lapse results in a loss of financial protection if any damage were to occur to the home, meaning that in the event of a fire, flood or burglary you assume all of the costs associate with said event. The burdens associated with these events can be minor but depending on the extent of the damage or the value of the items destroyed or stolen the financial burden could be much greater. The lapse not only results in the cancellation of the current policy but may result in the mortgage company purchasing forced placed insurance on your behalf which nearly always includes a lesser amount of coverage than what you had originally purchased and it also costs more than your original coverage.The Berniard Law Firm will work carefully to review your mortgage and escrow documents and ensure that the mortgage company refunds any fees or interest charged for lapse or lack of coverage.
If you have made all of your payments on time and the mortgage company is at fault for not making proper payments to your insurer and this has caused a lapse in your coverage it is a direct violation of federal law , and the Berniard Law Firm can assist you in filing a claim against the company for the amount of losses the insurance you requested would have covered. The Berniard Law Firm has helped many clients fight their mortgage companies and have been successful in securing settlements from those companies to not only pay for the loss that their clients sustained but also the attorneys.
In every lapsed insurance coverage case that was due to the fault of the mortgage company an initial denial of any wrongdoing was asserted by the company. It took the tenacity and expertise of the Berniard Law Firm to show the mortgage company the error of their ways which ultimately resulted in our clients receiving the coverage they paid for.
These cases involve special expertise that only experience can bring and the Berniard Law Firm’s attorneys have had a great deal of experience in suing mortgage companies for their client’s since Hurricane Katrina.
Speak With a Berniard Law Firm Attorney Today
Call us at (504) 521-6000 to speak with a Berniard Law Firm Attorney about your business income loss dispute. You can also complete the contact form and a Berniard Law Firm Attorney will contact you within the next 24 hours. All initial consultations are free and all cases are handled on a contingency fee basis. This means there are no costs to you unless a settlement or awarded by the court is adjudged. You have noting to lose, call today and a Berniard Law Firm Attorney will begin immediately working on your case so you can get the compensation you deserve.
Co-Counsel and Expert Consultation Services
The Berniard Law Firm is happy to take on any role necessary to help individuals and businesses in their fight against insurers. The Berniard Law Firm has worked in a variety of roles as lead counsel, co-counsel, as well as consultation and expert services. Our attorneys have worked with corporate counsel, corporate risk managers, public insurance adjusters, corporations, contractors, during the claims adjustment, investigation, litigation, and all phases of the claims process to help resolve coverage disputes. Call the Berniard Law Firm today to speak with an attorney regarding our services.
We thank you for your time and look forward to working with you to ensure you get the coverage you paid for.