The ABC’s Of A Property Damage Claim

policy-pic  What is the insured (YOU) entitled to after damage to your home?  Do you know? Do you even have a clue?

It wouldn’t surprise me if you didn’t. Most people don’t. You see, insurance companies don’t want you to know, that’s why your property policy doesn’t come with a manual breaking down your coverage. They will list general descriptions such as “Water Damage” but what does that mean to you? A kitchen faucet leak? A burst water heater pipe?  Well, in both cases a “Water Damage” claim can be applied.

To an untrained eye a faucet leak may just mean a trip to the local hardware store. However, there are other damages to consider. These are the damages that will eventually come back to cause havoc. For example, how long did the faucet leak go undetected? What material are the cabinets made of and how much moisture was absorbed? Do the cabinets have signs of swelling, mold, warping? Did the leak stop or shifted? These are just a few components that the average homeowner never considers and by the time you notice your cabinets deteriorating and try to open a claim the insurance company will probably deny your claim on the grounds that you waited too long to report it, never reported it or it’s not covered.

If your claim is processed do you know who you are dealing with? Is that friendly insurance adjuster on the phone really have your best interest in mind? Most insurance companies actually send out an independent adjuster or engineer hired to minimize or deny your claim. The actual claims adjuster you speak with on the phone never even leaves the desk and receives instructions from the claims supervisor who receives instructions by a claims manager or a corporate office which focus is on their bottom line and appeasing the shareholders.

Underpaying claims happens as often as it does because insurance companies know that most policyholders have little understanding of their coverage and by delaying a legitimate claim they are banking on homeowners avoiding a prolonged process and settling for a lot less than what they truly deserve. Statistically only an average 15% of policyholders seek out an advocate such as a Public Adjuster to fight for what they deserve.

The fact is that when a policyholder hires a Public Adjuster the claim will settle for much higher than if the claim was handled by the policyholder on their own. Yes I am a Public Adjuster but don’t just take my word for it.

In 2010, The Florida State Legislature’s Office of Program Policy Analysis and Government Accountability issued out a report after a thorough audit in which it states:

“Policyholders with public adjuster representation typically received higher settlements than those without public adjusters”.

(OPPAGA conducts policy research on the performance of state programs and provides information and recommendations to the Legislature.)

The report goes on to say: “The audit found that policyholders who retained public adjusters for their claims got 747% higher compensation than those working solely with their insurance company. For non-hurricane claims, policyholders got 574% higher compensation”.

The bottom line is, policyholders are fighting their insurance company and they are losing big time when not seeking out an advocate such as a Public Adjuster.  Don’t go at it alone, Cavalry Public Adjusters, LLC have expert Public Adjusters who will fight in your corner on a contingency basis. Meaning if you don’t get paid, we don’t get paid.

Also, I like to address the myth in which policyholders are afraid that their insurance company will raise rates if they open a claim, challenge a claim or challenge the payout.  Insurance companies will not drop you because of a claim. They will only drop you if you are a risk to them. For example, if they find out, that you store gasoline tanks in your garage and have exposed wiring, you are a risk to them and most likely be dropped.

Contact Cavalry Public Adjusters, LLC for a FREE consultation.


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