What should I do if I do not understand the terminology used in my insurance policy?
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Our attorneys can review your policy in detail, let you know exactly what type of coverage you have, what additional coverage you might need, and answer any of your questions. We can also help you in the event you are not sure who your insurance company is, as well as what method is used to reimburse you for losses. Contact your insurance agent or insurance company to initiate a claim.
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It is a good idea to take pictures to document the damages. You will need to provide either a verbal or written account of the damages to your home and contents. Your insurance company will issue you a claim number. They will provide you with detailed instructions on what you need to do next and tell you an insurance adjuster will be in contact.
During this waiting period, you need to protect and secure the home from further damages, if possible. You should also not make any repairs. For instance, if the roof is leaking, you would want to have tarps placed over it to stop further water from damaging the home. Consult with a personal property damage law firm. After contacting your insurance company and getting a claim number, it is a good idea to speak with a real estate lawyer to find out your rights and an estimate of the amount you should receive from your insurance company. Once the adjuster contacts you, they will visit your home, in most cases, to see the damages firsthand.
They will make an assessment and provide a report to the insurance company based on the method of replacement you have in your policy and a total amount your insurance company should pay you. Some adjusters work directly for the insurance companies. Their task is to help their employer to get you to settle for a little as possible. In fact, they may even have guidelines that they use to first make a settlement offer for the lowest possible amount and see if the insured will accept this amount.
It is important to also remember that insurance companies have their own real estate lawyers on retainer to provide instruction and legal advice on the minimum amounts they can offer. On the other hand, like when there are major tropical storms and hurricanes, insurance companies will often bring in outside adjusters from other states to help process claims faster. Additionally, the software applications adjusters use to determine costs could be using old pricing data. It is not uncommon for cost data to be used that is several years old—sometimes more.
This is could easily result in undervaluing your claim, especially if prices have steadily increased. In either case, if this amount is not what your real estate lawyer told you to expect, then you need to contact them and let them know.
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DO NOT cash the check if you received one. Cashing the check could indicate your agreement with the settlement provided by your insurance company. It can be frustrating, as the entire process could take several months—sometimes longer—to reach a suitable settlement amount. We are here to lend support and will do what we can to ensure you receive a fair settlement as quickly as possible.
Many homeowners do not realize they have coverage for additional living expenses. With this coverage, you are allowed to stay in hotels if your home is not habitable until the repairs are made. The fault lies with executives at insurance companies for creating a claims culture obsessed with not paying too much rather than taking care of the customer to the fullest extent promised.
Insurance company adjusters usually handle contents claims by handing the policyholder numerous blank forms and asking the policyholder to investigate and evaluate the loss by listing details about every article damaged or lost. With such acts, the insurance adjuster turns the policy from one with promised service by the insurer to a self service policy.
Contents Claim Adjusting Is Tedious, Time Consuming and Few Insurance Carriers Do It Right
Most policyholders, not knowing the insurer should be assisting, take the forms and then, when they can, start the tedious task of remembering what was destroyed or lost, figuring out if it can be repaired, the original cost, the age, the condition if asked , and come up with values from a search on the internet. To the joy of many cheating insurance companies, many policyholders give up and fail to make a full claim.
Think of how many gift cards you have received as a present and how many you failed to use because you forgot about them. Get the picture of how profitable it is for an insurer to not act in good faith when adjusting contents claims? This is written because I came across a post, Contents Coverage: Enservio claims the following:. Enservio was founded in with a mission to become the undisputed leader in contents claims services and software for the property insurance industry.
Headquartered near Boston, we have offices and professional staff located across the United States allowing us to offer our customers nationwide coverage. Today, Enservio is by far the market leader in property insurance software and services for contents inventory creation, valuation, payments and replacement.
Our success is driven by our commitment to help our customer constituents with all of the contents-related challenges they face. We understand the challenges of property and casualty carriers in the current environment to compress costs and increase efficiencies. The claim site was a residential house that had been deemed a total loss from a recent office fire — fortunately, no one was hurt and the family dog and two cats continued to roam the property.
Today was Day Two. Sean had cautioned me in advance to wear old clothes and steel-toed boots — he equipped me with a mask and headlamp as the electricity had been turned off and a few areas were pretty dark even with the sunlight streaming in. Sean was incredibly methodical, working in a spiral in the room and dictating items by name, model or brand, and age.
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He pretty much left no item unturned, digging into closets and under the bed as well as noting items hanging from the wall and back of the door. Full disclosure — my husband is probably not clear on the difference between a skirt and a dress, making Sean all the more remarkable. In addition to having to be incredibly observant and detail-oriented, you also need to be in shape to do this job.
It is physically demanding from inhaling the chemicals and soot to essentially having to be on your feet all day, broken only by the need to climb around a closet or repeatedly squat down to sift through a drawer or pile of items. Sean took pity on me and broke for lunch but explained that usually he would work on through the day with no breaks to keep his rhythm. One of the scarier moments occurred in the basement when the PA with us indicated an empty aquarium, mentioning that it had been the former home of a snake, that had escaped.
For the rest of our time in the basement, I was convinced the missing snake was going to turn up — on me — dropping from the ceiling or slithering out of a closet to wrap itself around my ankle. Needless to say the snake had probably already found a new home far away from the loss site and never turned up.
I do not know too many insurance companies with contents experts or that take the time to do what Enservio does. At least some insurance carriers are outsourcing their obligations at the start of a contents adjustment. A great resource that I always recommend to my clients and policyholders is knowyourstuff dot org. It is a completely free website, provided by the Insurance Information Institute and each user sets up their own account with private passwords etc. The know your stuff website will walk a homeowner through each room of the dwelling and provides a handy checklist of the common items found in a bedroom, kitchen, garage etc.
Fill out those inventory forms, take a few photos, log off and you are done. A quick reference and inventory of your home is now at your fingertips and available via the internet, which is much better than storing in a home computer as the data would not be destoyed by Fire, Flood or other Peril.
Disagreeing with Adjusters on Property Damage Insurance Claims
A bit of time spent today can pay big dividends should disaster strike and it will help to make the claim process go smoother and ultimatly be settled quicker. Getting people to act on this free service, well that is another story. I like your post and found it very revealing. However, the insurance company may believe that it is not their responsibility to prepare the PPIF. By the insurer using this order and methodology in handling the claim, which may be justified, the insured soon gives up and leaves countless dollars on the table.
It has been my experience that if the IA has to perform an estimate for personal property inventory himself, he will usually give more consideration to my estimate. I have gone up against a company such as Enservio and have found their estimates my like the fine tuning which fully reimburses my clients. Knowing where my client shopped and previously purchased his damaged items is important in determine fair reimbursement.
After this estimate is submitted and paid, it is harder to get the insurer to change their position on the value of an item.