What is a Notice of Loss and How to find a Property Loss Atorney
Property insurance policies require you to provide a Notice of Loss to the insurance company in the case you suffer property loss and intend to file a claim against the insurance policy. A Notice of Loss is mainly a document or a letter showing the losses and the circumstances surrounding the event.
After letting your insurance company know of a property loss, the policy may require you to “Tender the Defense” of any claims arising out of the loss to the insurance company. This requirement allows the insurance company to employ an attorney to participate in the settlement and litigation of any claims against you by third parties.
Also once your insurance company compensates you for the loss, you must give up the right to pursue third parties for compensation of the loss the insurance company has paid. This is called a “Subrogation Right” – enabling the insurance company to be paid for its compensation to you by recovering from any third party that had a part in the loss.
If you were had a loss and need help recovering your losses, contact an experienced property loss attorney right away. Our member insurance lay lawyers are considered the best in the state they practice in, so feel free to search our attorney directory for the most qualified Property Loss Attorneys in your state.
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