Marine insurance is designed to protect individuals and businesses from the risks and perils associated with owning, operating and maintaining ships, boats, yachts and other types of watercraft. These policies generally insure owners for first-party claims involving property damage to their watercrafts and also protect owners against third-party claims for bodily injuries and property damage when a boating accident occurs.
The lawyers at Ver Ploeg & Lumpkin have extensive experience representing policyholders in all types of insurance coverage disputes, including matters involving marine insurance. Our Miami insurance law firm is a recognized leader in insurance recovery, handling complex cases throughout the state of Florida and across the nation. Because our entire team of attorneys focuses solely on insurance coverage matters, we have the skills, knowledge and resources to achieve optimal outcomes. While we attempt to resolve marine insurance coverage disputes outside of the litigation process, our attorneys also represent clients in state and federal court at the trial and appellate levels.
In the event of an insurable incident such as a boating accident, windstorm or hurricane, the marine insurance carrier may significantly undervalue the property damage or insist that the losses are not covered under the terms of the insurance policy. In such cases, our attorneys work to ensure that the insurance company meets its contractual obligations. Our lawyers have a deep understanding of the insurance industry and are experienced in policy interpretation. We investigate each matter and take the appropriate steps to make certain our clients receive the full coverage they are entitled to. While we are often able to reach a settlement with the insurance carrier outside of the courtroom, our attorneys are seasoned trial lawyers who vigorously advocate for our clients in court to secure a fair and favorable outcome.
When a marine accident occurs and an injured third party brings a claim against a policyholder, the insurance company has a duty to defend the policyholder against the claim. If the insurance company has the opportunity to settle the claim within the policy limits and fails to do, there may be grounds for a bad faith suit against the insurer. For example, if the insurance company refuses the injured party’s offer to settle the claim at the policy limit of $200,000 and instead litigates the case resulting in an $800,000 jury award, the insurance company may have acted in bad faith by rejecting the settlement offer and exposing the policyholder to a judgment far above the policy limits.
If you are involved in an insurance claim dispute with a marine insurance carrier, the attorneys at Ver Ploeg & Lumpkin are prepared to handle your case. We have decades of experience helping policyholders throughout Florida and across the nation obtain the insurance coverage they deserve. You can schedule a consultation with a member of our legal team by calling 305-577-3996.