Most policyholders who have suffered damages to their property (home, business, etc.) from a fire insurance claim usually makes costly mistakes during and after the claim settlement. However, there is always one extremely expensive mistake that almost all policyholders make over and over again. What’s worse is that they do it without even knowing it. The most costly mistake is; Most policyholders only rely on the insurance company’s adjuster to inspect, process, and estimate the complete fire insurance claim without any questions. They accept the insurance adjuster’s complete evaluation without any comparisons, estimates from their own contractors, or a review by a fire insurance claim professional. This will be the most costly mistake you would ever make in your entire lifetime.
As if it’s not devastating enough to see your belongings and property consumed by a fire, but then relying on someone else – without knowing their credentials – to value your belongings and property, provide the proper costs to repair or replace, and simply trust that they’ve done this all correctly without missing anything… Has To Be I N S A N E ! Yet, homeowners and business owners allow such things to happen all across the nation, each and every day. For the majority of people it’s simple human nature to count their “change” after ordering fast-food or to diligently scan their dinner bill and be certain that the waitress didn’t charge for any items they didn’t order. We’ve all done these exact things. Time and time again we will go out of our way to count and penny-pinch of our chump change. Yet, when it comes to the tens of thousands and even the hundreds of thousands of dollars we’ve lost from a fire insurance claim, we rely on an insurance company representative without scanning, reviewing or keeping track.
There isn’t anyone who knows your property like you do. With all there is to do in properly preparing and calculating fire insurance claim damage, it’s no wonder that in most cases, items can be forgotten or missed during the process. This couldn’t be more true if the process is done by someone from the insurance company. They have no knowledge about your building, its finishes (carpet, wallpaper), or your contents (furniture, clothing, etc.) like you. Could they possibly be more accurate than you? Furthermore, just because an adjuster works for an insurance company, inspects your property, and knows how to measure rooms, in no way means they are a qualified contractor, builder, or is certified to evaluate fire and water damage repairs.
During the review of thousands of both closed and open claims, we find that both insurance companies and policyholders unknowingly and often miss hidden damages. The truth is – that in almost all instances; it’s a good idea to have a qualified professional review all fire damage claims. One should seek a fire insurance claims appraiser, a fire insurance claim consultant, or a fire consulting firm.
Too often policyholders are under the impression that if they deposit a check received from the insurance company into their bank account – the claim is settled and closed. This could not be any further from the truth. The fact are; that in most states policyholders have 3-years to make claims from the time the damages occurred. Claimants can even ADD items to an existing claim. So, the review of claims to be sure you have been fully compensated can occur, during the process of an existing claim or even after the claim has been closed and settled. More money from your claim is also obtainable even if your property or building has been removed, torn down, or demolished.
Yes, even if your claim has been settled and you have deposited the checks, or your building has been torn down and demolished, you can still obtain more insurance proceeds if the damages were not assessed properly. In many cases, tens of thousands or even hundreds of thousands of more dollars. Even when a policyholder believes they have received a fair settlement… they usually have not.
However, it’s up to the policyholder to do their part to protect themselves. Here are a few tips to assist in the review of your fire insurance claim. There are tips if you are in the middle of your claim – as well as tips if your claim has closed some time ago.
1. During Claim -
1. Document Your Building Damage: Take the time to inspect and document the damages yourself. Take photos of all damaged rooms in your building. Take overviews of the room and then take some close-up photos of the damaged ceilings, walls, floors, windows, doors, etc. of that room as well. Work your way around the building to the left (clock wise). Before entering the next room, closet, or hall – take an overview. This will be an easy way to organize which photos belong to which rooms. An example is; Overview of living room, then from top to bottom, photos of ceiling, walls, windows, doors, then the floor. Then the first photo of the next room is an overview, and so on. (No pictures or close-ups of contents yet, just the rooms.)
1. Closed Claim -
1. Obtain Documents Of Your Building: The insurance adjuster has taken photos of your building during their inspection. If you have no photos yourself, or minimal photos – then request all photos taken by the adjuster from the insurance company. You should also request the diagram/sketch they used to calculate the square footage of your building. Also request the complete detailed estimate they have written to arrive at their numbers. This documentation will be useful for the fire insurance claim consultant you choose.
2. During Claim -
2. Document Your Contents Damage: Next is to visit each room and closet once again to inventory your contents. Take an overview photo of each piece of furniture, pair of shoes, shirts, pants, ect. Then a close-up photo of any damage on that item. Write each item down on a Contents Inventory Form. ( Download one by visiting http://www.insuranceclaimsgroup.com/forms.html ) Similar to the way you have photographed and organized your building damage photos, you should do the same with your contents. Example; Take overview photo of living room, then work your way around the room to the left (clockwise). Photograph and list all the items on each wall until you get back to the doorway you began at. This way items will not be missed or forgotten. Once the living room inventory has been completed, move to the next room and start by taking an overview photo of the room. this helps organize what room the contents were located. List the name of the room at he top of each page of your inventory list. Now the photos and the list are both organized in sequence with each other.
2. Closed Or Settled Claims -
2. Obtain Documents Of Your Contents Damage: The insurance adjuster has taken photos of your contents during their inspection as well. If you have no photos yourself, or minimal photos – then request all photos taken by the adjuster of your contents. You should also request the complete detailed contents inventory they have written to arrive at their numbers. This documentation will be useful for the fire insurance claim consultant you choose.
3. Existing Claims -
3. Review Policy: Fire claim victims should always take time to read and review their insurance policies. Moss people have no idea of the basics, like; How much building allowance they? How much allowance for contents (clothing, furniture, electronics, etc.)? How much allowance to rent a home, rent furniture, or to stay in a hotel? Surprisingly, most policyholders have limited or absolutely no knowledge of such information. Usually this type of documentation gets destroyed in the fire. If such; people should visit their agents office and request a “certified true copy” of the policy they own. One should also ask the agent to advise how much coverage they hold for their property.
3. For Closed Claims -
3. Obtain Copy Of Your Policy: Contact your insurance company and request a certified copy of your “FULL” insurance policy, including the Declarations page. This documentation will be useful for the fire insurance claim consultant you choose.
4. During Claim -
4. Consult With Professionals: The adjusters visit damaged properties, inspect fire damages, and conclud estimates of the amount of damages a fire has incurred. It’s extremley important that policyholders have sch a process completed for themselves as well. Think about it; how do policyholders really know the insurance company’s adjusters are doing their jobs in the correct manner? Should policyholders be willing to just give up tens or even hundreds of thousands of dollars – without beng sure? It is the adjusters job to explain all the fire insurance claim coverage that is available. However, this type information is usually witheld. Sometimes it’s witheld on purpose, and at other times it’s also witheld on purpose (Was that a misprint? Witholding information from policyholders is usually witheld until they actually ask. More often than not; such witholding happens on purpose.) It is your home or building, it is your insurance repair money, and it is your policy – the one you have PAID for. You are responsible for educating yourself. You need to ensure you’re receiving the complete compensation you’re entitled to. It’s up to he policyholder to seek and hire the fire insurance claim appraiser or consultant. You need to consult someone who can complete a full review, looking out for your interests, and diligently review your insurance company’s documents of your claim. You deserve to know if you obtained a fair shake or not.
4. For Closed Claims -
4. Consult A Professional: Did you receive a fair settlement for your fire insurance claim? How do you know unless you ask someone? If you are unsure if you have obtained a fair settlement from your insurance company, you owe it to yourself to find out. If you have collected all the data as outlined above; you will have enough data on your claim to have a professional review it. A review of your claim will allow the fire insurance claim consultant to advise you where you stand. Leaving yourself in the dark, with a chance of forfeiting tens of thousands of dollars, or even hundreds of thousands of dollars makes zero sense. A small fee to find out where you stand is a small price to pay, compared to a large sum of insurance proceeds that you did not know existed.
(Free Consultation: Fire insurance claims help is available. We will provide a free review of a present or closed insurance claim file at no cost. If needed; visit http://www.insuranceclaimsgroup.com/contact-us.html or feel free to call us at 919-669-9111. )
The reasons are clear and simple. The facts are this, the adjusters work directly for the insurance company, where the fire claims appraiser or consultant works directly for you. You already made the right choice by making sure you were properly insured. It is now up to you to continue with the next steps. That is to research that you have properly compensated for the policy you paid for.
Copyright of Insurance Claims Group, Inc. … Joseph P. Brennan: Learn more about http://www.fireinsuranceclaims.net and obtain a Free Consultation fire your fire insurance claims. Fire Insurance Claim Help (919) 669-9111.
