My question involves insurance law for the state of: Georgia
I own a National Flood Insurance Policy through Nationwide. In 2004 my lower floor was flooded and after filing a claim I received a payout of $12,000.
Oct. 2009, my lower floor flooded again. However this time the adjuster decided that since there is a 2-inch drop some of my lower floor should be classified as a "basement" and not a "walkout."
I accept that the insurance company seems to have beaten me with a technicality and that some of my lower floor is indeed classified as a basement. For this reason the adjuster determined I should only receive $3,000 for this flood.
However, now Nationwide is threatening to "refile" the claim from 2004. They want everything redone with the "basement" standard and want money BACK from a claim that was paid out over 5 years ago.
Is this legal? Isn't there some sort of statue of limitations that would apply in this matter? I highly doubt they can bill me for money I received in 2004, but I am afraid they may not pay me the 3,000 I am owed for my current claim based on the 2004 issue.