Do You Have an Insurance Claim?

You know that there is damage to your home or personal property … but are you entitled to money to to address your damage from your insurance carrier?

The insurance company will send their adjuster (or one that they have contracted to represent them) to the home to investigate and prepare a report.

The following questions are what your insurance company’s adjuster will be attempting to answer in making the determination as to whether or not you should be paid and, if you should be paid, how much to pay you.

1.  Is the cause of loss covered?  His interpretation of the cause may or may not fall under a cause of loss covered by your policy.

2.  Is the property involved in the loss covered?  Coverage is limited to the property that is described on the declarations page but can also include grave markers and property off the premises, as well.

3.  Is the type of loss covered?  Not all types of losses are covered under a home owner’s or business insurance policy.  Items that should be replaced through normal maintenance, for example, would not be covered.

4.  Are the types and amounts of damages covered?  Does your policy contain certain limits for certain types of losses and damages?

5.  Is the person involved in the loss covered?

6.  Is the location of the loss covered?  Many home owners are unaware that certain losses their children experience in the college dorm can be covered under their policy.

7.  Is the time of the accident or occurrence within the policy period?

8.  Are the hazards involved in the loss covered?   Vandalism, for example, may not be covered when the property is vacant.

9.  Do any exclusions apply?

Use these questions to guide you in determining if you have a claim and should be paid.  When your insurance company’s adjuster does not agree with you, consult a public adjuster before accepting less than what you may be entitled to.

 

Superstorm Sandy and Property Damage Insurance

As is often the case following such damaging events as the recent storms in the Northeastern section of the United States from yesterday, hundreds of thousands of home and business owners will awaken and begin to discover the realities of their insurance contracts … those conditions and exclusions that are written into their insurance polices that, like landmines, often impede their steps toward restoring that part of their lives that has to do with their property damage and loss.

Believe it or not, thousands of home owners with their houses under water brought in by the sea or overflowing river banks will only — today — discover that flooding is not a covered peril under their insurance policies.  With all or most of their personal property missing or destroyed, providing proof of their losses will appear to be impossible.

Because the burden is on the insured to “prove” his loss and most are not totally aware of their rights or the process of proving their insurance claims, many will accept lower settlements or denials that will unnecessarily add to the burdens that they already are forced to endure.

Some “storm chasing” public adjusters from all over the country will soon be descending upon the area to help people with their insurance claims to help home and business owners contend with the wave of adjusters sent by the insurance companies to protect their financial interests … and while many of them will actually be helpful, the shock and the awe of the recent disaster still hangs over its victims like a dark cloud and not all of their choices during this period will be, upon later reflection, “good” choices.

Prudent home and business owners throughout the country can benefit from this lesson and take the opportunity — today — to meet with a public adjuster close to their home.  Get to know him and discuss your insurance contracts with him.  Let him show you what they do and do not cover, what your immediate steps should be following a loss and how to protect yourself from actions that could nullify or reduce the amount of your claim.

Public adjusters do not work for insurance companies and can help you through the process of proving your claim  … even before it happens … so that you can concentrate on more important things that you will certainly face during a personal property disaster.

It is also important to note that, if you try to handle your claim on your own and are unsatisfied with the results, a local public adjuster can review your claim and reopen it to address a wrongful denial or underpayment.

Take the time, today, to find a local public adjuster who will be there for you when you need him the most.

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