So that's 10.5% of total claims, but the article doesn't do a good job explaining if this is an actual problem. they are just throwing numbers around without explaining why these claims are being denied except for suppositional statements like these:
Insurance claims can be denied for a number of reasons, including but not limited to insufficient information, missed premium payments, fraudulent claims, or missed filing deadlines. A closed claim without payment is a claim deemed not currently payable by the reporting insurer, FLOIR stipulates.
"There are a variety of reasons why a property insurance claim may be closed without payment," Mark Friedlander, director of corporate communications at the Insurance Information Institute, previously told Newsweek. "Most likely, these are primarily flood claims that are not covered by a standard property insurance, condo insurance or flood insurance policy. You need flood insurance to cover a flood claim."
Yes, but it's easier to imagine a person getting $0 for their flattened house than it is someone trying to find things to blame on the hurricane for $$$.
Yeah it's definitely not that floods are a damaging consequence of hurricanes.
I can understand that flood damage isn't covered by those plans and still think that the consequences of for profit insurance are bullshit. People typically don't skip out on full coverage insurance as a get rich quick scheme. It tends to be a consequence of not being able to afford their inflated prices. Safety nets like insurance do not have room for corporate profits. As a result people suffer.