Pros and Cons of Choosing Arbitration for Property Insurance Claims in Florida

At Warner & Fitzmartin, we are committed to helping Florida homeowners understand their rights when it comes to property insurance claims. One option that is increasingly appearing in homeowners' insurance policies is arbitration. Here’s what you need to know about the process and whether it’s the right choice for your claim.

What is Arbitration?

Arbitration is like a mini-trial. In the event of a dispute over your property insurance claim, both you and your insurance company will select an arbitrator—essentially, a private judge—to hear the case. Each side presents evidence, and while there is some discovery involved (such as witness interviews or property inspections), it’s more limited than in a traditional court trial. The arbitrator’s decision is final and legally binding.

Pros of Arbitration

One of the main benefits of arbitration is that it can lead to a faster resolution compared to taking your claim to court. Additionally, insurance companies often cover the cost of the arbitration itself, making it seem like an attractive option. The process tends to be less formal, allowing you to potentially resolve your property insurance dispute more quickly and move forward with repairs.

Cons of Arbitration

However, there are drawbacks. While the insurance company may cover the cost of arbitration, you will still be responsible for your own attorney fees. Arbitration often requires expert testimony to support your claim, and insurance companies frequently work with the same experts, making it expensive to hire your own professionals to counter their findings. Many homeowners, already overwhelmed with repair costs, may struggle to afford these additional expenses.

Should You Choose Arbitration?

Deciding whether arbitration is the right path for your property insurance claim can be difficult. At Warner & Fitzmartin, we can help you carefully review your policy, understand the costs involved, and find the right experts to build your case. Our experienced property insurance claims attorneys in Lake Worth are here to guide you through every step of the arbitration process and ensure that your rights are protected.

Contact us today by calling us at (561) 816-5983 or submit a form online to discuss your property insurance claim and explore your options.