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Saturday, September 23, 2023

5 Ways Public Adjusters Speed Up Insurance Claims

Are you curious about hiring a public adjuster for your insurance claim? Keep reading to find out everything you need to know about how public adjusters speed up insurance claims.

Help Organize Documentation

Public adjusters know exactly what insurance companies need to see to process your claim. They know the paperwork, receipts, photos, and videos needed to process your claim and secure the highest possible payout.

One of a public adjuster’s main roles is to help organize documentation related to your claim.

Many public adjusters used to work for insurance companies, so they know what insurance companies need to see.

As an ordinary homeowner, you probably have no idea what insurance companies want to see with your claim. You might send documentation back and forth to your insurance company, delaying your claim by months.

Many insurers take advantage of your inexperience, demanding excessive amounts of evidence for damages that will never be covered. Every time you turn in additional information, your insurance company has another 15 days to review that information before either accepting or denying it, thereby delaying your claim and your payment again.

A public adjuster can examine your claim, determine the evidence needed to prove that claim and maximize its value, organize that documentation in a coherent way, and send it all to the insurance company.

Negotiating with the Insurer on Your Behalf

Public adjusters also speed up claims by negotiating with the insurer on your behalf.

As an ordinary homeowner, you probably don’t know how to negotiate with your insurance company. You don’t know when to push, how much to ask for, or where the insurance company has room to negotiate.

Public adjusters, however, do have this expertise. They know the areas where insurance companies have some wiggle room – and they know exactly how to maximize the value of your claim.
Ultimately, a good negotiator speeds up insurance claims by achieving an optimal resolution on your behalf as soon as possible.

Keeping Bad Faith Insurers Accountable

Public adjusters keep insurers accountable.

They work full-time on your claim, frequently contacting your insurer to ensure your claim is proceeding as quickly and smoothly as possible. They can quote statutes and codes that keep your insurance company within the given timelines for a speedy process.

Insurance companies have an obligation to respond to you within a reasonable length of time.

Despite this requirement, many insurers drag their feet, demand excessive amounts of evidence, and perform other actions in bad faith – all of which can delay your insurance claim.

Overseeing Estimates & Repairs

Public adjusters also oversee the process of repairing damage to your property. They organize estimates, oversee the repair process, and ensure everything is going according to plan.

The goal of an insurance claim is to repair your property to pre-loss condition as quickly as possible.

However, some contractors cut corners, using cheaper parts to lower costs. Or, insurers may reduce payout, offering to only pay for some damage because of exclusion within your policy.

By overseeing estimates and repairs, a public adjuster can:

Ensure your property damage is effectively repaired to pre-loss condition
Speed up the repair process without compromising the quality of repairs

Securing More Money for Your Claim for Faster Post-Claim Recovery

Public adjusters don’t just speed up your insurance claim. They also speed up your life post-claim by increasing your initial payout, making life easier in the days and weeks following a claim.

A good public adjuster could double or even triple the initial settlement offer from your insurance company. That means more money to pay your contractors and cover additional living expenses when you need it most.

After a claim, you may be dealing with additional headaches. There are often many expenses from moving, replacing daily living items and reorganizing your family or business to accommodate the loss. The extra money from your insurance claim, generated by your public adjuster, can make your life easier after a claim by finding coverage in your policy to cover these unexpected expenses.

You’ll have more money to cover the protection of your business, home or personal items, emergency expenses, additional repairs not covered by insurance, and other complications. Extra money always makes things easier – especially after a major home insurance claim.

Slowing Down the Claim to Ensure Nothing is Missed

Public adjusters don’t always want to speed up your insurance claim.

In fact, home insurance companies often want to speed up insurance claims to close your case as quickly as possible. The faster the insurer closes a claim, the cheaper the claim tends to be.

That’s why good public adjusters focus more on speeding up a complete claim. They organize all facts, analyze all damage, and present all evidence to your insurer to obtain the highest possible settlement on behalf of clients.

A fast resolution is nice. However, most clients are happy to wait a few extra days or weeks for extra compensation. Yes, public adjusters speed up claims, but they don’t speed up claims just for the sake of it. They fight to ensure you receive every penny owed to you by your insurer.

Public Adjusters Optimize the Claim from Start to Finish

Overall, a good public adjuster speeds up a claim by optimizing the claim from start to finish.
Using their insurance industry expertise, public adjusters provide the evidence insurers need to see to justify your claim. Then, they continue to contact your insurer frequently to ensure your claim is processed as quickly as possible.

A public adjuster can speed up your insurance claim and help you get paid as soon as possible – without compromising on your payout.

Contact ClaimsMate today for a free consultation with a public adjuster.

Learn More Here: 5 Ways Public Adjusters Speed Up Insurance Claims

Friday, September 22, 2023

10 Surprising Homeowners Insurance Exclusions: Damages Home Insurance Won’t Cover

All homeowners insurance policies have exclusions. A standard homeowners insurance policy, for example, does not include flood insurance. Others may exclude damage from “wind driven rain” and other perils.

Many homeowners are unaware of exclusions until it’s too late. Fortunately, we’re here to help.

Here are the top 10 most common homeowners insurance exclusions, including damages a standard home insurance policy will not cover.

Flood Damage

Standard homeowners insurance policies do not cover flood damage.

If you live in a flood zone, then your lender will require you to purchase supplemental flood insurance through the National Flood Insurance Program (NFIP) or other “Write Your Own” policies offered by your insurance company. You pay different rates for flood insurance based on your FEMA flood zone designation.

Even if you live outside of a flood zone, you could experience catastrophic flood damage. A storm could cause sewer systems to back up and damage your property, for example, even if you live far from the water. If you are not in a flood zone, the insurance is usually very inexpensive, but well worth the money. It only takes about 1” of water through your home to cause catastrophic damage.

Consider your location and proximity to water sources to determine if flood insurance is the right choice for you. Unfortunately, a lot of flooding has been taking place in areas that are not designated as a flood zone, leaving most families and businesses without any coverage at all.

Wind Damage in Hurricane-Prone Areas

A standard homeowners insurance policy covers wind damage except if you live in a hurricane-prone area.

If you live in an area with a high risk of hurricanes, for example, then you generally need to buy extra wind insurance. Many homeowners living in the southeastern United States or along the Atlantic or Gulf Coasts need to buy separate wind insurance. This insurance is usually offered by a “State Pool” of carriers and governed by the area of the wind zone. The closer you are to the coast line, the more the insurance will cost.

Some homeowners insurance policies do include windstorm damage, but insurers charge higher deductibles. Instead of charging your ordinary deductible of $1,000 to $2,500, for example, insurers may charge a deductible of 1% to 5% of your home’s value. This decreases the chances of filing a claim unless there are severe damages.

It is important to make sure that your wind policy covers “wind driven rain” and “additional living expenses”. Without these two endorsements, in the case of a tropical storm or hurricane, you might find yourself without a place to live or coverage for interior damages unless the wind or flying debris makes a hole in your roof or breaks windows.

The Full Cost of High-Value Items, Like Jewelry, Electronics, & Collectibles

Homeowners insurance doesn’t just cover the structure of your home; it also covers all of your possessions inside your home.

However, a standard policy only provides a certain amount of protection per item. You might only receive a maximum of $1,000 of compensation per item, for example.

If a fire destroys your home and your $10,000 engagement ring, then you may only receive $1,000 in compensation from your insurer.

If you have high-value items that need protection, then consider adding an endorsement to your policy. You pay a few extra dollars per month to fully protect high-value items.

Earthquake Damage

Many homeowners assume their homeowners insurance policy covers earthquake damage, but it doesn’t.

In fact, a standard homeowners insurance policy excludes damage related to earth movement, which is why you may not be covered against earthquakes or landslides.

Fortunately, you can buy supplemental earthquake coverage.

Many homeowners who live in earthquake-prone areas purchase supplemental insurance coverage. Residents of California, for example, can buy earthquake insurance through a private insurer or through government programs like the California Earthquake Authority (CEA).

Landslide & Mudflow Damages

Homeowners insurance policies typically exclude damage caused by movement of the earth, which is why they exclude earthquake damage and damage related to landslides and mudflows.

Landslides and mudflows frequently can occur after rainstorms – especially in dry areas that rarely get rain. Although they can occur after earthquakes, that’s not always the case.

If your house is damaged or destroyed by a landslide, then your homeowners insurance may not cover you. Fortunately, you could purchase supplemental coverage through a private insurer or the California Earthquake Authority (CEA) to cover earthquake, landslide, and mudflow damage.

Maintenance, Wear and Tear, and Related Damages

As a homeowner, you have an obligation to maintain your home. Maintenance is an expected part of home ownership.

Home insurance isn’t designed to cover expected damages or costs; instead, it’s designed to cover unexpected damages and costs.

Home insurance won’t cover the cost of fixing a rotten fence board, for example, but it will cover any damage to your fence caused by a fallen tree after a storm.

If your roof is 20 years old and needs to be replaced, then you need to check the wording in your policy. Insurance companies have started using terminology in their policies that only allow for the actual cash value of the roof if it is over a certain age. This means that you would be paying for your roof, not your insurance company. This will happen due to the depreciated value of your roof and your deductible. Homeowners insurance doesn’t cover maintenance, wear and tear, or related damages.

Damage Caused by Poor Maintenance

A standard homeowners insurance policy doesn’t cover maintenance, nor does it cover damage caused by poor maintenance.

If you failed to check your roof for damage after a hailstorm, for example, and your roof started leaking during a later rainstorm, then you may not be able to make an insurance claim.

As a homeowner, you have an obligation to maintain your home. If you fail to uphold that obligation, then your insurer could deny or reduce your claim. It is a good idea to check your roof after each storm and to check the vents and other intrusions to your roof to make sure that they are properly sealed.

Pest Damage

Virtually all homeowners insurance policies exclude pest damage. As a homeowner, you generally need to pay for pest remediation and removal out of pocket and cannot make a claim.

Homeowners insurance excludes pest damage because it’s part of home maintenance. If you adequately maintain your home, then you’re unlikely to experience pest damage. If you ignore a pest problem, it gets worse.

In fact, it’s rare to find any type of pest insurance offered by insurance companies. No major insurer offers pest coverage – although some pest removal companies offer a warranty after they service your property. The insurance company might offer coverage for termites if it is “hidden damage”, but it is best to reach out to a Public Adjuster for a policy interpretation to see if you have this coverage or not.

Mold Damage

Many homeowners are surprised to learn their policy does not cover mold damage.

In most situations, homeowners insurance will not cover mold damage – especially if that mold is left undiscovered over a long period of time and has no specific, identifiable cause. Some insurance companies will offer a small amount of mold coverage, but this is never enough to properly remediate the home once mold has been discovered.

Even if there is an identifiable cause – like a pipe that slowly leaked – home insurance may not cover it because it’s a maintenance issue. You have an obligation to maintain your home, and that includes identifying leaks before they cause mold damage.

There is an exception to this rule: if a covered peril (like a storm) causes mold damage, then your policy should cover it. If a severe thunderstorm damages your home and causes water to enter your home, for example, leading to mold damage, then home insurance should cover it.

Damage Caused by Dangerous or Aggressive Dogs

Homeowners insurance includes liability coverage. However, that doesn’t mean it protects all incidents on your property.

Many dog owners are surprised to discover their policy doesn’t cover damage inflicted by specific types of dogs.

In fact, you may be unable to buy homeowners insurance if you have certain aggressive or dangerous breeds of dogs.

Many insurers deny or limit coverage if you have a pit bull, rottweiler, or wolf hybrid dog, for example. However, some insurers take a dog-specific approach, only excluding these damages if the dog has a history of aggression, biting, or dangerous behavior.

If your dog is of a breed known for being "aggressive" or "dangerous", then you may face a denied claim or other exclusions. Check your policy to avoid surprises.

Final Word on Exclusions Insurance Doesn't Cover

Roughly two of three homes in the United States are underinsured. They don’t carry adequate insurance coverage or their limits are too low. This can cause multiple problems during a valid claim that can leave you without enough money to cover your loss.

In many cases, your homeowners insurance policy has adequate limits – but it excludes certain damages common to your area.

If you think your claim was wrongfully denied or underpaid, contact ClaimsMate for a claim review from a Public Adjuster.

Tuesday, August 8, 2023

How to Make an Insurance Claim After a Hurricane

How do you make an insurance claim after a hurricane? What does insurance cover – and not cover – after a hurricane? Keep reading to find out everything you need to know about hurricane insurance claims and how they work.

Tip Before The Storm: If a hurricane is approaching your area, it is always best to document everything in your home before you leave or the hurricane arrives. This includes a video of each room, including garages, closets and cabinets. Take photos of any electronics and appliances, to include model and serial numbers. Back this information up on a hard drive, flash drive or memory card and take it with you if you leave.

1) Contact Your Insurance Company

Upon returning to your home, secure the scene and make sure all people and pets are safe, contact your insurance company.
Your insurance company can advise you on the next steps to take. They might recommend a specific restoration contractor, start the claim, or send an insurance adjuster to your location.

Your insurer can answer any questions you have about your claim – like how much your deductible is, what is and isn’t covered, and what to document. You’ll need this information to move onto the next steps.

Note: If a hurricane has caused significant damage to your area, then your insurance company could have a backlog of calls from homeowners trying to make a claim. In many cases, insurers set up mobile claim processing points in your area to process a large number of claims from a single disaster at once.

2) Document Everything

The more documentation you have, the smoother your hurricane insurance claim will be – and the faster you’ll receive a payout.

If safe to do so, document hurricane damage around your home. Take photos and videos of all damaged parts of your home, damaged items, and other relevant items.

Some tips for documenting hurricane damage in the early days after a disaster include:

Take photos and videos of all damaged property, including damaged parts of your home, furniture, and other items. Before moving anything, take photos and videos again of your home and the contents in its exact condition and location. Be sure to take photos of any debris, water lines or missing parts of your home. An overall view of items and then a close up of the damage are preferred by most insurance companies.
Keep a spreadsheet or list with all damaged items; that list should name the type of damage, the estimated value of the item, and the approximate purchase date for each item. Do not throw anything away until you have an approved estimate in writing. Contents are often denied or disputed if you don’t have the proper documentation.
Document all conversations between yourself and your adjuster (take notes on the topics discussed along with the date and time of the conversation). If possible, it is best to communicate with them through email so that you have written documentation of what you have been instructed to do.
Keep receipts from restoration contractors, roofers, landscapers, tree care professionals, and anyone else working around your home in the days following a hurricane. Do not pay anyone in cash as you will be expected to show “verifiable proof of payment” to get your full insurance proceeds.
Keep all receipts from food, hotel accommodations, rental cars, and other costs in the days following the hurricane, assuming you are forced to move out of your home during repairs. If you have Additional Living Expense coverage these items will be refunded to you.

Some careful homeowners already have a home inventory, or a list of items of value in your home. A good home inventory can save you time after a major claim – like a hurricane or house fire. If you’re preparing for hurricane season, or if a hurricane is approaching, consider making an inventory of items in your house, their approximate purchase date, and their estimated value.

3) Check your Homeowners Insurance Policy for Coverages, Limits, and Exclusions

A standard homeowners insurance policy covers hurricane damage as long as you are not in a “windstorm designated area”, which is typically about 30 miles inland from the coast . Hurricane damage falls under windstorm damage and coastal communities require a special policy.

However, many homeowners insurance policies also have exclusions. You might see an exclusion for wind-driven rain damage, for example, or for flood damage. Homeowners insurance policies may cover rain and windstorm damage, but most don’t cover flood damage.

Check your homeowners insurance policy and make sure you understand the following areas:

Check for dwelling coverage. Dwelling coverage covers the cost of repairing or replacing your home. If a hurricane damaged or destroyed your home, then you can make a claim under dwelling coverage up to the limits of your policy. Check your dwelling coverage policy limit to see the maximum possible amount of compensation.
Check for other structures coverage or coverage B. Your homeowners insurance policy could cover the cost of repairing or replacing other structures in and around your home, including separate garages or outbuildings like sheds. Many homeowners insurance policies extend 10% of dwelling coverage to other structures coverage. If you have $400,000 of dwelling coverage, for example, then you might have $40,000 of coverage for other structures.
Check your personal property coverage limit and replacement rules. Personal property coverage covers the items in your home – like your TV and couch. It’s typically valued at 50% to 70% of dwelling coverage.
Look for additional living expense (ALE) coverage and limits. If a hurricane has made your house unlivable, then you may need to spend days or weeks in a hotel. A standard homeowners insurance policy includes coverage for additional living expenses (ALE). These are extra costs you must pay as a result of a covered event – like a hurricane. Check your policy to verify your ALE limits. Then, track your expenses to ensure you’re maximizing your payout.
See if you have a different hurricane deductible. Many insurance companies, particularly in hurricane-prone areas, use a different deductible for hurricanes. An ordinary homeowners insurance deductible may be $2,500 flat fee or a percentage of your policy, like 1%, but a hurricane deductible could be 2% to 10% of the value of your home. The closer you are to the coast, the higher this deductible tends to be. Generally, you can expect to pay significantly more for your hurricane deductible than you would for an ordinary home insurance deductible.

4) Work with Your Insurance Company to Move Forward

Over the coming days and weeks, your insurance company and adjuster should work with you to repair the home to pre-loss condition. Or, if your home was destroyed, you might receive a check for the value of the home and all contents inside, up to the limits of your policy.

Ideally, you and your insurance company’s adjuster have a good relationship. The adjuster responds to your requests promptly and applies your insurance coverage fairly.

Unfortunately, hurricane insurance claims can be messy. Insurance companies hate hurricanes. A single hurricane can cost an insurer billions of dollars. The insurer likely wants to reduce your payout as much as they legally can – so they may pushback against certain parts of your claim.

5) Hire a Public Adjuster to Maximize Claim Payout

Generally, insurance experts recommend hiring a public adjuster for large claims or large disputed amounts. The larger your claim, the more you have to lose to your insurer – and the more you have to gain by hiring a public adjuster.

A public adjuster works for you – not the insurance company. The public adjuster negotiates with the insurer, oversees repairs, and provides documentation to maximize your claim and increase your payout.

Consider hiring a public adjuster in all of the following situations following an insurance claim:
You have a large claim or extensive property damage
The insurance company is offering you significantly less than you expected
There is a large disputed amount on your claim, and you believe your insurer should cover this amount
Your claim is complex and you need extra help on your side
Your insurance company is taking advantage of you, treating you unfairly, or acting in bad faith

In all of these situations, it may be in your best interest to hire a public adjuster for your insurance claim. Schedule a free consultation with ClaimsMate today to learn more how about how an expert public adjuster can help with your hurricane damage insurance claim.

Read Full Article Here: How to Make an Insurance Claim After a Hurricane

Sunday, April 30, 2023

What Do Insurance Companies Check When You Make A Claim | Claimsmate Public Adjusters

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