{"id":2941,"date":"2025-11-27T15:49:26","date_gmt":"2025-11-27T15:49:26","guid":{"rendered":"https:\/\/wealthylifestyle.online\/?p=2941"},"modified":"2025-11-27T15:49:26","modified_gmt":"2025-11-27T15:49:26","slug":"security-first-insurance-350k-property-damage-settlement","status":"publish","type":"post","link":"https:\/\/nerdwallett.xyz\/?p=2941","title":{"rendered":"Security First Insurance $350K Property Damage Settlement"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Individuals who owned residential property in Florida that&nbsp;<a href=\"chrome-extension:\/\/ecabifbgmdmgdllomnfinbmaellmclnh\/data\/reader\/template.html#\">&nbsp;Security First Insurance<\/a>&nbsp;Co. insured and filed a claim for property damage caused by Tropical Storm Eta in November 2020 may qualify to receive a cash payment from a&nbsp;<a href=\"https:\/\/www.claimdepot.com\/settlements\" target=\"_blank\" rel=\"noreferrer noopener\">class action settlement<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Security First&nbsp;<a href=\"chrome-extension:\/\/ecabifbgmdmgdllomnfinbmaellmclnh\/data\/reader\/template.html#\">&nbsp;Insurance<\/a>&nbsp;Co. agreed to pay $350,000 to resolve a class action lawsuit alleging it improperly applied higher hurricane deductibles instead of lower \u201call-other-perils\u201d deductibles to property damage claims related to Tropical Storm Eta.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Who are the class members?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Class members must meet all of the following criteria:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>They owned residential real property in Florida that Security First Insurance Co. insured between Nov. 8 and Nov. 12, 2020.<\/li>\n\n\n\n<li>They made a claim for property damage related to Tropical Storm Eta.<\/li>\n\n\n\n<li>Their\u00a0<a href=\"chrome-extension:\/\/ecabifbgmdmgdllomnfinbmaellmclnh\/data\/reader\/template.html#\">\u00a0insurance policy<\/a>\u00a0had a hurricane deductible that was higher than the all-other-perils deductible.<\/li>\n\n\n\n<li>Security First applied the hurricane deductible to their claim.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement administrator identified eligible class members using Security First\u2019s records.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How much can class members receive?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Pro rata payment:<\/strong>&nbsp;The total settlement fund is $350,000. After deducting the costs of administering the settlement, the settlement administrator will distribute the remaining funds among eligible class members.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement uses a pro rata distribution method. This means the settlement administrator will calculate each class member\u2019s payment by determining the difference between their hurricane deductible and their all-other-perils deductible. It will then use the sum of all class members\u2019 deductible differences to determine each person\u2019s share of the net settlement fund. Those with a higher deductible difference will receive a higher payment, and those with a lower deductible difference will receive a lower payment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Discover more<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Insurance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Security First Insurance Company<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">insurance policy<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">insurance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Security First Insurance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Privacy management tools<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Settlement Claim Filing<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consumer rights guides<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Class Action Database<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Secure cloud storage<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement administrator may reduce payments if the total claims exceed the net settlement fund.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">No claim form needed to receive payment<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Eligible class members&nbsp;<strong>do not<\/strong>&nbsp;need to file a claim form or submit any documentation to receive their payment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement administrator will automatically mail checks to all eligible class members after the court grants final approval of the settlement. Class members who prefer to receive their payment electronically can visit the settlement website and&nbsp;<a href=\"https:\/\/www.securityfirstdeductiblesettlement.com\/Request-an-Electronic-Payment\/PageControl\/Authentication\" target=\"_blank\" rel=\"noreferrer noopener\">follow the instructions<\/a>&nbsp;using the web registration code provided at the top of their email notice or on the front left side of the mailed postcard.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">$350,000 settlement fund breakdown<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The $350,000 settlement fund covers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Claims administration costs<\/strong>: $20,000<\/li>\n\n\n\n<li><strong>Attorneys\u2019 fees, expenses or service awards<\/strong>: To be determined<\/li>\n\n\n\n<li><strong>Service awards to representative plaintiffs:\u00a0<\/strong>$7,500 each ($15,000 total)<\/li>\n\n\n\n<li><strong>Payments to class members<\/strong>: Remaining funds<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Important dates<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Deadline for exclusion<\/strong>: Dec. 31, 2025<\/li>\n\n\n\n<li><strong>Final approval hearing<\/strong>: Jan. 30, 2026<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">When is the Security First deductible settlement payout date?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The settlement administrator will issue payments no later than 30 days after the court resolves all appeals or 75 days after the court grants final approval to the settlement, whichever is later.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why did this class action settlement happen?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This class action lawsuit alleged Security First Insurance Co. applied higher hurricane deductibles to property damage claims from Tropical Storm Eta instead of the lower all-other-perils deductibles. This practice reportedly resulted in higher out-of-pocket costs for policyholders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Security First denies any wrongdoing but agreed to settle to avoid the cost and uncertainty of continued litigation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Sources<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.securityfirstdeductiblesettlement.com\/Portals\/0\/Document%20Files\/Notice.pdf?ver=n1ZSSuxzDImX7XLmTQU6GQ%3d%3d\" target=\"_blank\" rel=\"noreferrer noopener\">Class notice<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.securityfirstdeductiblesettlement.com\/Portals\/0\/Document%20Files\/Settlement_Agreement.pdf?ver=n0Gb7RJUqIPddxDiOyjIpw%3d%3d\" target=\"_blank\" rel=\"noreferrer noopener\">Settlement agreement<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.securityfirstdeductiblesettlement.com\/FAQ\" target=\"_blank\" rel=\"noreferrer noopener\">Settlement FAQ<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Individuals who owned residential property in Florida that&nbsp;&nbsp;Security First Insurance&nbsp;Co. insured and filed a claim for property damage<\/p>\n","protected":false},"author":1,"featured_media":2755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-class-action-settlements"],"_links":{"self":[{"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=\/wp\/v2\/posts\/2941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2941"}],"version-history":[{"count":0,"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=\/wp\/v2\/posts\/2941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=\/wp\/v2\/media\/2755"}],"wp:attachment":[{"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nerdwallett.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}