How We Won $220K After Toilet Overflow & Insurance Company Bankruptcy

A Florida homeowner suffered major water damage from a toilet backup just weeks after his insurance company went bankrupt. Thanks to Panther Public Adjusting, he avoided signing a lowball settlement, fought FIGA through appraisal, and ultimately recovered $220,000. This case proves why hiring a public adjuster from day one is critical, especially in complex insurance situations.


How It All Started

Imagine coming home to find dirty water pouring from the ceiling into your kitchen. A toilet on the second floor overflowed, and the water seeped through the floors and ceilings, damaging the kitchen cabinets and hardwood floors below. That’s exactly what happened to one of our clients in Florida.

Just weeks before the incident, his insurance company had gone bankrupt.

Fortunately, because it was a Florida-based insurer, the homeowner’s policy was backed by the Florida Insurance Guaranty Association (FIGA), a safety net for policyholders when insurance companies become insolvent. FIGA’s role is to pay out eligible claims, but the process is often slow, frustrating, and confusing.


FIGA Is Not Like a Regular Insurance Company

Most homeowners have never heard of FIGA until they need it. FIGA is not an insurance company. It is not regulated like one either. This means:

  • There are no clear timelines for response
  • Communication can be inconsistent
  • Claim resolution can take much longer
  • Offers may be incomplete or undervalued

That is exactly what this homeowner faced until he brought in Panther Public Adjusting to take control.


How Panther Took Over the Claim

From the moment we were contacted, our team began building the case. The first step was thorough documentation, including using pre-purchase home inspection reports to show that the damages were new. This eliminated any argument that the water damage was pre-existing.

We filed the FIGA claim right away. Then the waiting began.

But at Panther, we do not wait passively. We contacted FIGA weekly to push for an inspection. Once the inspection happened, we followed up every week for the report. FIGA dragged its feet and delayed at every stage.

Eventually, they offered about $100,000. But there was a catch.


Understanding the Risk of Signing a Release

FIGA’s offer came with a release agreement. This legal document would prevent the homeowner from seeking more money later — even if additional damages were found.

At Panther, we knew better than to accept a settlement without reviewing their internal estimate. We demanded:

  1. A copy of FIGA’s estimate
  2. A breakdown of what damages they admitted to
  3. Immediate payment of any undisputed damages, which FIGA is required to pay without a release

When FIGA refused, we escalated the issue to leadership. They finally released the estimate and paid approximately $100,000 in undisputed funds — without a release.

But we knew the home had far more damage than FIGA acknowledged.


Going to Appraisal: A Strategic Move

At that point, we triggered the appraisal clause in the policy. If you are not familiar with how insurance appraisal works, check out our educational video on the My Insurance Claim Expert YouTube channel. This clause allows neutral appraisers to evaluate the claim and determine the true value of the loss.

After the appraisal process concluded, the panel awarded $220,000 for the loss. That was $120,000 more than what FIGA initially tried to settle for.


Why Most Homeowners Settle for Less

After receiving the initial $100,000, the homeowner told us, “Mendy, I can’t believe you got me this much.” He was ready to walk away. But we knew better.

Without Panther, he likely would have signed the release and missed out on another $120,000. Most homeowners do not know their rights under FIGA, do not understand appraisal, and feel overwhelmed trying to handle a claim alone.

That is where we come in.


What Makes Panther Public Adjusting Different

Panther Public Adjusting fights for you from day one. We handle:

  • Communication and follow-ups
  • Documentation and inspection coordination
  • Negotiation of undisputed funds
  • Appraisal preparation and representation
  • Ongoing support until you are fully paid

If you are dealing with a water damage claim, FIGA, or an unresponsive insurance company, we can help — just like we helped this Sarasota-area homeowner.

We proudly serve communities throughout Florida, including Sarasota, Palmetto, and Englewood.


Don’t Wait — Get Help Now

If your insurer is delaying, denying, or bankrupt, you still have rights. Let Panther review your policy and handle the claim for you.

📞 Call now at 833-726-8437
📩 Email your policy to Claims@PantherPA.com for a free review
💬 Use our contact form to get started today


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Frequently Asked Questions

Q1: What is FIGA and when does it apply?
A: FIGA, or the Florida Insurance Guaranty Association, handles claims when Florida-based insurance companies go bankrupt. If your carrier becomes insolvent, FIGA may step in to pay covered losses.

Q2: Should I sign a release from FIGA or my insurance company?
A: Never sign a release without understanding the full scope of your damages. It may prevent you from seeking additional payment later. Always consult a public adjuster before agreeing.

Q3: What is the appraisal clause and how does it help?
A: The appraisal clause allows an independent panel to determine the fair value of your claim when there is a dispute. It is a powerful way to resolve claims fairly and is often faster than litigation.

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