Residential Flood and Ensuing Damages: $329,000

Steven C. Kletzkin, PLLC represented a residential property owner in a litigation filed in Palm Beach County against his insurance carrier for breach of the insurance policy. The insurance carrier refused to pay the full benefits required to restore the residence to a pre-loss condition. The residential property sustained catastrophic damage due to a flood originating from a toilet in the master bathroom on the second story of the home. The policy of insurance that the homeowner purchased from the insurance carrier provided insurance benefits that included full coverage for water damages resulting from a flood. Unfortunately, the insurance carrier, one of the largest in the state, paid approximately $33,000 for the loss and denied any additional payment. The insurance payment was made to the insured as full and final settlement for the water damages from the flood.

The estimate that was generated for the insured as a result of the flood damage was approximately $225,000. The insurance carrier rejected the damages estimate, and the matter was litigated. Multiple depositions were completed, and several property inspections by experts of various specialties were conducted during the course of pre-trial discovery. Steven C. Kletzkin, PLLC was prepared to present the matter to a jury for resolution, and the residential property insurance lawsuit was placed on a trial docket. On the eve of trial, a settlement was achieved on behalf of this insured. The amount of the settlement paid to represents the full value necessary to compensate the insured for the cost of repair the home from the flood and in addition compensated the homeowner for bad faith causes of action that were preserved on behalf of this insured as a result of the filing of a Civil Remedy Notice.