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Lawyers Investigate Insurance Companies That Refuse to Pay the Full “Actual Cash Value”

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Case ID: 4975 | Insurance | 01/23/2007
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Whenever a home, a car, a business or any other property is damaged, a person instinctively calls his or her insurance agent to get started on the repairs. Many insurance policies state that the insurance company will pay the actual cash value of the damage to the property, and some insurance policies state that the insured can elect to receive either the actual cash value of the damages, or the replacement cost of the damages.

When a person chooses the actual case value of the damaged property, many insurance companies deduct an amount of money that they believe is equal to the overhead and profit of a general contractor. In many instances, the insurance company does not have a right to deduct an amount of money that they believe is equal to a contractor’s costs and overhead.

If you made a claim against your insurance company for the actual cash value of damaged property and the insurance company has deducted from the amount they paid to you a percentage for the “costs and overhead of the contractor,” you may have a right to demand the payment of this deducted amount.

If you believe you might qualify, please call to speak with a lawyer now at 1-866-467-1400, ext. 100, or you can make a claim on this page.


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If you or someone you know has been affected by this case, you may qualify for a money settlement as the result of your financial/economic or other damages that may be awarded either prior to a lawsuit or after the initiation of a lawsuit either currently in progress or filed just for you, possibly a class action lawsuit. Please simply register your complaint by clicking here for Insurance Customers, or click the red "submit" button on this page, and a lawyer will review your Insurance Customers complaint.

By submitting your complaint, you are asking lawyers to contact you. You are under no obligation to accept their services and you are free to choose which lawyer you want to work with. Lawyers are usually paid out of the proceeds of the settlement or verdict rendered - the lawyers work on "contingency" by fronting the costs of your lawsuit based on their belief that they will recover a settlement for you.

At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints.

Other Insurance Cases of Interest

The theory of diminished value asserts that buyers choosing between two otherwise equal vehicles will select one that has not been previously damaged and repaired, even where the repairs to the other vehicle were first-rate. The parties have reached a tentative $2,346,535 settlement in an action filed against SAFECO Insurance Company of America and numerous affiliated companies on behalf all persons insured by an automobile insurance policy issued in Georgia by the defendants and who made a claim for damage to their vehicles under their collision, comprehensive, underinsured, or uninsured motorist coverage for a loss that occurred between June 19, 1997, and November 28, 2001. Though there is no claims deadline at this time, persons who are eligible to take part in the settlement who have not received a notification letter should act as soon as possible to alert the company of their eligibility.
 
A class action has been filed against AmerUs Group Company and affiliated companies and individuals, on behalf of Pennsylvanians 65 years of age and over, who purchased living trusts or living trust kits and/or deferred variable/fixed annuities that were worthless to them from the companies, in violation of Pennsylvanians unfair trade practices laws.
 
A class action lawsuit has been filed in the Middle District Court of Florida against Mayo Clinic Jacksonville for violations of Florida's Uniform Deceptive Trade Practices Act. Class members seek monetary damages, injunctive and equitable relief, attorney's fees and costs of the litigation.
 
A national class action has been filed in Texas against insurance giant United Guaranty Residential Insurance Company on behalf of all consumers for whom United Guaranty issued a mortgage insurance policy at a disadvantageous rate due to derogatory information contained in a credit report, and who did not receive notice that derogatory information obtained from a credit report was used in setting the insurance premium. The insureds claim that United Guaranty uses credit reports to set premiums but does not provide any information to consumers when an adverse decision has been made against them based on that report. The insureds allege that this violates the federal fair credit reporting act and are seeking actual damages as well as statutory damages and declaratory relief.
 
A nationwide class action has been filed against insurance companies Marsh & McLennan Companies, Inc., Aon Corporation and its affiliates, and the Willis Group, on behalf of all persons who directly or indirectly engaged the defendants’ insurance brokerage services between August 26, 1994, and the present. The action alleges that the companies have conspired to fraudulently conceal that they have entered into placement service agreements with third-party insurance companies which pay them additional fees based on such factors as profitability, growth, and the volume of insurance the defendants place with the participating insurers, in violation of the federal Racketeer Influenced and Corrupt Organizations Act.
 
Toni Swain Orrill, a New Orleans resident whose house was severely damaged in Hurricane Katrina, filed a class action suit against American International Group (AIG) and its subsidiary, Audubon. The suit charges that the company has failed to help its policyholders who are in desperate need of assistance after the hurricane.
 
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