Migliaccio & Rathod LLP is investigating whether Iowa homeowners received the full insurance coverage promised under inflation guard endorsements included in their homeowners policies.
Inflation guard provisions may automatically increase the amount of insurance available for rebuilding a home as construction costs change during the policy period. Following a covered fire, windstorm, or other substantial loss, the applicable coverage limit may therefore exceed the amount originally listed on the declarations page.
Migliaccio & Rathod is investigating whether insurers failed to apply required inflation adjustments when calculating covered claims, potentially leaving homeowners responsible for rebuilding expenses that should have been insured.
Homeowners May Have Experienced:
- Receiving a claim payment calculated using an outdated coverage limit;
- Having an inflation guard adjustment omitted from their settlement;
- Being denied additional coverage despite purchasing an inflation-protection endorsement;
- Being told the dwelling coverage limit was exhausted;
- Paying rebuilding expenses that may have been covered by an adjusted limit; or
- Receiving an unclear explanation of the coverage amount applicable on the date of loss.
Potential Claims May Include:
- Failure to apply contractual inflation adjustments;
- Incorrect calculation of homeowners insurance benefits;
- Breach of insurance contract;
- Improper underpayment of covered property losses; or
- Violations of applicable insurance laws.
Signs You May Be Affected:
- You had an Iowa homeowners insurance policy;
- Your policy included an inflation guard or automatic coverage adjustment endorsement;
- You experienced a covered fire, windstorm, or other substantial property loss;
- Your claim payment approached or exhausted the dwelling coverage limit;
- You believe the insurer failed to increase that limit as promised; or
- You have the relevant policy endorsement and claim settlement records.
If you believe you experienced this issue, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call.