Most policyholders who have suffered damages to their property (home, business, etc.) from fire claims 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 bad enough that your property was destroyed by fire, to then rely on someone else – who is not really there for you – to visit the property, inspect the damages, generate PROPER value, and then completely trust that they have your best interest in mind… Is Utter I N S A N I T Y !
Yet, we see policyholders in a state of shock allow this very thing to happen all across the world, every day of the year. It’s hard to fathom that most people have human instincts to count their “change” from a cashier at the grocery store or diligently review dinner bills, line by line, to make sure the waiter or waitress did not bill them for additional items. We all do that. We’re sure to go out of our way to calculate life’s little chump change. However, when it comes to fire insurance claim damages exceeding tens of thousands, even hundreds of thousands of dollars, without any questions… we rely on the insurance company.
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.
With the review of thousands of closed claims, we have found that in most cases, both insurance companies and policyholders unknowingly miss damages that are hidden from the naked eye. In almost all instances; it is a good idea to have a professional review your fire damage claim. Preferably a fire insurance claims appraiser, consultant, or fire consulting firm.
Policyholders often believe that when the insurance company sends them a check and they deposit the money in their bank account – the claim is closed. This couldn’t be further from the truth. The fact is; that in most states a policyholder has 3-years to make a claim and even ADD to an existing claim. So, a review of your claim to see if you have been properly compensated can occur, during the claims process or even after the claim has been settled. You can also obtain more money from your claim – even if it has been torn down and demolished.
It’s true, even if claims have been settled and all insurance proceeds have been deposited, or the building has been torn down and removed, policyholders can recover more insurance proceeds if the damages were missed or not addressed properly. In most cases, tens of thousands, even hundreds of thousands of more dollars are recovered… AFTER the insurance company has closed the claim. Even policyholders that believe they have received a fair settlement… they usually have not.
However, it’s truly up to the policyholders to do their part and protect themselves. Below are a few tips and ideas to assist policyholders with the review of their fire insurance claims. There are tips for those in the middle of the claim process – as well as tips for claims that have been closed some time ago.
1. During Claim Process – Document Building Damage: Take time to inspect, photograph, and document the fire damages yourself. Take photos of all rooms in the building. Take overview photos of the room as well as close-up photos of the ceilings, walls, floors, windows, doors, etc. of each room as well. Work around the building to the left (clock wise). Then, before entering the next room – take an overview photo. This will be the easiest way to organize the photos for each room. Here’s an example; Take overview photo of the kitchen, then work your photos from the ceiling to the floor. Take overview photo of ceiling, then zoom in on photos of the ceiling. Continue with overview photos of each wall, then close-up photos of damages on walls. Continue this process with windows, doors, and finally the floor. When you enter the next room, hall or closet, the first photo is an overview, and so on. (Do not take any photos or close-ups of any furniture or clothing yet, just the rooms.)
1. Closed or Settled Claims – Obtain Documentation Of The Building: Insurance adjusters visit the property to gather measurements and photos of the damage. If you have no photographs yourself, or a limited amount of pics – request that the insurance company send you all photographs that were taken by the adjuster. You should also request the complete estimate and diagram/sketch they used to arrive at the square footage and repair numbers. This type of documentation will be critical for you to have, as well as if the need arises for the fire insurance claim appraiser you choose.
2. During Claim Process – 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, etc. 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 – Obtain Contents Damage Documents: If the adjuster has done their job properly they have taken photos of the contents during the inspection as well. If you have minimal or no photos of your contents you should request all those taken by the adjuster. You also want to request a copy of the complete contents inventory they had written to arrive at your contents settlement numbers. This type of documentation will also be useful for the fire insurance claim consultants you may choose.
3. During Claim Process – Review Of Your Policy: Fire claim victims should take the time to and review their insurance policy. Most policyholders don’t even know basic information, like; How much building coverage do they carry? How much contents (furniture, clothing, etc.) coverage? How much they have to stay in a hotel, to rent a home or furniture? Surprisingly enough, many policyholders have no idea about any of this. In most cases this documentation has been burned in the fire. In such cases; policyholders can visit with their agent and request a “certified true copy” of their full policy. It’s also recommended to ask the agent to explain how much coverage you hold on your property.
3. Closed Or Settled Claims – 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 Process – Consult With A Professional: The insurance companies have their adjuster visit your property, inspect your damages, and complete estimates on the amount of damage you have incurred. It’s very important you have the same exact process completed yourself. How does a policyholder know the insurance company adjuster has done their job correctly? Should you be willing to give up tens of thousands of dollars by not taking steps to be sure? The insurance adjuster should explain all the fire insurance claim coverage’s that is available to you, however, such information is rarely disclosed. Sometimes it is even done on purpose, and on other occasions it’s also done on purpose (Did you read that? Forgetting to advise you of certain coverage’s is usually withheld until you ask. More often than not; it’s done on purpose.) It is your belongings, it is your money, and it is your policy. You must educate yourself to ensure you’re being fully compensated for the fire damages. You should consider hiring a fire insurance claim professional. Someone who can look out for you and review the insurance company’s value of your loss. You need to be in-the-know by obtaining your own “real-world” costs and estimates to repair or replace your property.
4. Closed Or Settled Claims – Consult A Independent Insurance Appraiser: Have you been provided with a fair settlement? How is a person sure they have unless they consult with a professional? Anyone who is not 100% sure if they have obtained fair and full settlement from an insurance company, owes it to themselves to investigate. If policyholders have collected and reviewed all the docs and photos that are listed above; they have sufficient documentation to consult the opinion of an independent appraiser and insurance professional. A professional review of your claim documentation is all an independent insurance appraiser needs to advise if you were treated fairly. To consider leaving yourself in the dark, with no flashlight in sight, without knowing if you’re forfeiting tens of thousands and/or hundreds of thousands of dollars in the insurance company’s pocket – doesn’t make much sense at all. The minimal fee it would take to understand where you stand is a very tiny cost to pay. Compare that same tiny cost to a large chunk of insurance funds that you weren’t even aware existed… is a no-brainer.
(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 or feel free to call us at 919-669-9111. )
The reasons are very simple. The fact is, the insurance company’s adjusters work directly for the insurance companies, where a fire help appraiser works directly for you. At this point you have made the right move by taking time to be sure you had insurance coverage for your property. It is now up to you to jump to the next step to ensure you have fully received what was paid for.
Get the important fire claims advice and details you will require to make sure your repairs take place quickly! When you require assistance with fire help, call 919-669-9111!
categories: fire insurance claims,fire claims,fire damage,fire damage claims,homeowners insurance,property claims,insurance claims help,homeowners insurance,legal,finance