General Contractor Overhead & Profit (GCOP)
Homeowners & Property Damage Insurance
"General Contractor Overhead & Profit" (GCOP) in a Homeowner’s property damage claim is, on paper, a standard benefit which a policyholder should expect to receive. In the event of a severely damaged home, GCOP is the part of the claim used to pay the general contractor hired by the homeowner to make the repairs.
The California Department of Insurance, and many widely-accepted insurance publications, all clearly recognize the need to include these GCOP expenses in situations where the policyholder is likely to incur such costs when repairing or replacing their damaged property.
Unfortunately, several large insurance companies such as Travelers, Farmers, Louisiana Citizens, and many others, have failed to make this payment to their policyholders.
Gruber & Gruber is aggressively pursuing the insurance industry for failing to pay the GCOP to their insured’s. Gruber & Gruber currently has GCOP cases and activity in several states across the country including California, Florida, Texas, and Louisiana. Because of Gruber & Gruber, a class action involving GCOP claims due to Hurricane Katrina in the state of Louisiana was recently certified by the courts, and Gruber & Gruber is anticipating the same positive results for homeowners in California, Florida, and Texas as well.
If you feel you have been unfairly denied the proper GCOP benefit as part of your homeowner’s property damage claim, contact Gruber & Gruber today for a Free Consultation. Gruber & Gruber will ensure you receive the compensation you are legally entitled to.