Homeowner’s Insurance Fire Claims

McMath Woods continues to gain experience representing people with insurance claims after they have suffered a fire at their home or business. We have blogged about this before, but want to put a reminder up for everyone that before giving a statement under oath you should retain counsel. In many instances, insurance companies use these statements under oath to try and deny claims. Also, before submitting your personal property schedules as requested by your insurance carrier, be sure that they are complete and correct. In Arkansas, those schedules are essentially signed under oath. Companies look for any discrepancy to try and claim that you have committed fraud or misrepresentation. An inadvertent addition to your schedule could cause you problems.

Also please keep in mind that under Arkansas law if your homeowners insurance company refuses to pay and you have to sue, if you recover within 30% of your demand you can get attorney’s fees and costs and a 12% penalty.