Subscribe Feed (RSS)Too many policyholders rely on their insurance company to visit their property, inspect their claim, and provide a claim settlement for their damages. This should almost NEVER HAPPEN!
I’m not saying that there are no good adjusters out there and that they can’t be trusted, not at all. There are many excellent adjusters that do an excellent job. However, are you under the delusion that they will never make a mistake, miss hidden damages, or that they all have multiple years of experience? Not a chance.
Have you ever obtained a second opinion before having a mechanic do major work on your car? Have you; or anyone you know; ever secured a second opinion before having surgery? A second opinion when hiring a landscaper, hen buying a computer, or when hiring a contractor? Have you ever obtained more than one estimate to have work done on your home? Excuse me for assuming that you’ve answered a very loud and proud “YES,” to more than one of these questions, or al for that matter. Then why will policyholders (homeowners and business owners) allow the insurance company’s adjuster to out-right “TELL THEM,” what the damages of their insurance claim will cost?
The majority of insurance adjusters have attended classes of how to pass an insurance policy exam and have attended classes of how to use insurance estimating programs. However, they have never worked for an insurance repair contracting company, have never repaired or built a home, nor have they ever fixed any type of damage at their own home. If you have such an adjuster visit your damaged property, chances are, they will accidentally miss items needed to properly repair your damages.
Simply put, this is what you have been paying for all this time. To be protected when you have a claim. It is YOUR money, it is YOUR insurance policy, it is YOUR property, which in turn makes it YOUR responsibility to protect yourself from mistakes or from being taken advantage of. Again, the insurance company adjuster could be 100% accurate with the final analysis and estimate numbers for your claim damages. Regardless of what you think may be true, YOU should be sure. Policyholders need to have an independent insurance appraiser or contractor provide them with a line item, detailed estimate that will ensure their adjuster was correct.
What Is A Line Item, Detailed Estimate?
Many contractors may use a square foot cost to replace a roof or siding on a home. However, insurance company usually require an estimate that has been detailed by separating each line-item individually. By using the replacement of a damaged roof in our example; the insurance companies will require that each process and layer of the repairs be listed. They need to view each type of material being used to ensure the insured is not upgrading what they had. Surely the insured can upgrade, but, the insured pays for the difference between what they had and what they are upgrading to. That’s the reason they wish to see all items listed separately. Here’s an example of a detailed, line-item insurance repair estimate;
The numbers in the estimate example are fictitious; however, it shows the basis for a Line-Item, Detailed, Insurance Estimate. Each line item is separated in full detail, as well as displaying the description, quantity, unit cost, and total for each of the separate materials and items. This type of detail is needed, and in many cases required, so the insurance companies can view and compare each of the separate items and each items unit costs with their own numbers. By submitting an insurance claim estimate that is formatted in the format requested by the insurance companies, results in a much faster claim settlement.
In events when their is an insurance claim dispute; by issuing a more detailed estimate provides a much smoother, less time consuming process. It’s much more difficult for your insurance company to dispute a insurance claim estimate that was issued to them in the format that they have requested.
Watch yourself, educate yourself, and protect yourself by obtaining a second opinion on any and all insurance claim damages you incur. Obtaining insurance claim help makes good sence. If you won’t look out for yourself… who will?
Joe Brennan is President and owner/operator of Insurance Claims Group, Inc., a national independent adjusting, appraisal, and umpiring firm. We will review your insurance claim FREE – Ph: 919-669-9111 . Get Insurance Claim Help , by visiting http://www.insuranceclaimsgroup.com , or Fire Insurance Claims Help
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