Migliaccio & Rathod LLP is investigating whether homeowners insurance companies in Indiana, Iowa, and Nebraska have incorrectly calculated coverage limits that are based on a percentage of the home’s insured value.
Many homeowners insurance policies calculate coverage for other structures, personal property, and certain additional benefits as a percentage of the dwelling coverage limit, commonly referred to as Coverage A. When an inflation-protection endorsement increases Coverage A, some policies may also require corresponding increases to these additional coverage limits.
Migliaccio & Rathod is investigating whether insurers failed to adjust percentage-based coverage limits when required by their policies, potentially leaving homeowners with less coverage for damaged belongings, detached structures, or other covered losses.
Homeowners May Have Experienced:
- Receiving less coverage for personal property than their policy appeared to provide;
- Having coverage for garages, sheds, or other structures calculated using an outdated dwelling limit;
- Receiving claim payments based on percentage limits that did not reflect required inflation adjustments;
- Being told additional coverage was exhausted despite an increased dwelling limit;
- Having related coverage limits remain unchanged after Coverage A increased; or
- Paying out-of-pocket expenses that may have been covered under correctly calculated limits.
Potential Claims May Include:
- Incorrect calculation of percentage-based insurance coverage limits;
- Failure to apply contractual inflation adjustments to related coverages;
- Breach of insurance contract;
- Improper underpayment of covered property losses; or
- Violations of applicable insurance laws.
Signs You May Be Affected:
- You had a homeowners insurance policy in Indiana, Iowa, or Nebraska;
- Your policy calculated other coverage limits as a percentage of Coverage A;
- Your dwelling coverage increased under an inflation-protection endorsement;
- You filed a claim involving personal property, other structures, or another percentage-based coverage;
- Your insurer calculated that coverage using a lower dwelling limit than your policy required; or
- You have your policy declarations, endorsements, and claim payment 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.
