Posts Tagged ‘Insurance Claims’

Insurance Claims Help: Homeowners In Maryland Should Always Obtain A Second Opinion!

Nov 11, 2009 Business Insurance

Policyholders are way too trusting. Most people will rely on their insurance company adjuster to visit their home, inspect the damages of their claim, and provide a final claim settlement for their damages. This process alone should almost… NEVER HAPPEN!

We’re not claiming that there are not any good adjusters left out there. We’re not saying that all adjusters can’t be trusted, or that any of them are trying to purposely cheat people. There are many efficient and professional adjusters that excel at their job. However, are we really under the delusion that there will never be an adjuster that makes a mistake, an adjuster that may miss hidden damages, or that every adjuster that works for insurance companies all have multiple years of training and experience? Let me answer for you… NO Way In Hell!

Have you ever had a second opinion before having your car fixed? Have you or anyone you know ever needed a second opinion after seeing a doctor? A second opinion when shopping for a car, computer, or hiring a contractor? Have you ever had more than one estimate to build or repair something for your home? I’m assuming you’ve answered yes to at least one of these questions, if not more. Then why do policyholders allow insurance company adjusters to TELL THEM what they will pay on their insurance claim?

Most insurance adjusters have learned how to pass an insurance claim exam and learned how to use an insurance estimating program… but have never worked on an insurance repair job. Many have never built or repaired a home, nor have they ever worked for any type of Construction Company. Chances are they will miss something needed to properly complete the repairs of your claim.

It’s no mystery that it is YOUR property, it’s YOUR insurance policy, and it’s YOUR responsibility to ensure you protect yourself. Again, your insurance adjuster may be 100% accurate with their final analysis of your claim. Regardless, YOU should go the extra mile, have a contractor or an independent insurance appraiser provide you with a line-item, detailed insurance damage estimate that can ensure the adjuster is correct and accurate.

What Is A Detailed, Line-Item Estimate?

Sometimes a contractor will use a complete sf price for a roof or deck, but the insurance company is requesting the estimate be broken down per line item. Using the roof example; the insurance companies want to see each process of the roof replacement, AND each type of material being used on the roof - listed separately. Here’s an example;

Although the numbers in the example are fictitious; it reveals the basis for a Line-Item, Detailed, Insurance Claim Estimate. Each of the line-items is separated in complete detail. The estimate also reveals the descriptions, quantities, unit costs, and totals for each item as well. This type of detail is required and needed, so the insurance companies can view each of the items unit costs with their adjusters numbers. Submitting the claim estimate in the format requested by your insurance company will result in a much faster settlement of the claim.

In the event that a insurance claim dispute arises - the more detailed estimate will allow for a less time consuming and smoother process. It is difficult for insurance companies to dispute your insurance claim estimate when it follows the exact format that they request.

Watch out for yourself, protect and educate yourself, and always seek insurance claim help by obtaining a second opinion. This should be the first thought on any and all insurance claim damages you happen to incur. If you fail to look out for yourself… Nobody Will?

Joe Brennan is President and owner/operator of Insurance Claims Group, Inc., a national independent adjusting, appraisal, and umpiring firm. We will answer your claim questions FREE - Ph: 919-669-9111 . Get Insurance Claim Help , by visiting http://www.insuranceclaimsgroup.com , or http://www.insuranceappraisalumpire.com

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Fire Insurance Claims - Help And Tips To Consider After The Fire Is Out

Nov 6, 2009 Home Insurance

Almost everyone who has suffered damages to their property as a result of a fire insurance claim makes costly mistakes during and after the settlement… And, here it is; Most policyholders simply rely on their insurance company to evaluate the entire claim. This can be the most costly mistake anyone could ever make in their entire life.

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.

No one else comes close to knowing your property like you do. With all that is needed to properly prepare and configure the damages associated with a fire insurance claim, almost in all instances, items are missed and forgotten during the claims process. Especially if this is completed by someone other than you. The insurance adjusters don’t know all there is to know about your building, your personal property, or the quality of your contents ( clothing, furniture, etc. ) like you do. How could another person possibly be as accurate as you when calculating such items? Further, simply because the insurance adjuster visits the property for an inspection, in no way shape or form means that they are a professional contractor, builder, or qualified and certified in fire and water damage restoration and evaluation.

In the review of thousands of claims, it’s been found in most cases, both policyholders and insurance adjusters unknowingly miss multiple damages that are hidden from the naked-eye. In almost all instances reviewed policyholders have stated that they should have had a professional review their fire damage claims. However, they failed to know who. All assumed that the insurance company would take care of them and send out a professional adjuster that would provide all they needed. Preferably, when in such need one should consider contacting a fire insurance claims appraiser, a fire damage consultant, or a certified fire restoration contractor.

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 Process -

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 or Settled Claims -

1. Obtain Documents For Building: Your insurance adjuster had taken photos of the property during their inspection(s). If you do not have any photos yourself, or if you only have minimal photos - you should request a copy of all photos that were taken by the insurance adjuster. You will want to also request the copy of the adjusters scope. The scope will be the diagram/sketch and measurements they used to calculate the square feet of each room of the building. Request the complete line-item, detailed estimate they wrote to arrive at the settlement numbers of your claim. These documents will be useful to you and for any fire insurance claim consultant you may choose.

2. Existing 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. During Claim Process -

2. Obtain Contents Damage Iventory Docs: As with the building items the adjuster has also taken pictures of the contents as well. If you have no pictures what so ever; or very minimal pictures of your belongings you can request all the pictures taken by the adjuster at the time of their inspection. You will also need to request a complete, detailed copy of the inventory list they compiled to arrive at their proposed settlement numbers. This is the type of documentation that will also be very useful for the fire insurance claim appraisers you choose.

3. During Claim Process -

3. Review Your Policy: Fire victims must take the time to review their insurance policy. You must know the basics; How much coverage do you have on your building? How much coverage do you have for your contents (furniture, clothing, etc.)? How much coverage do you have to stay in a hotel or to rent a home or furniture? Surprisingly, many people don’t know this. In many cases the policy has been damaged in the fire. If this is the case; visit your agent and ask for a certified copy of your full policy. Ask your agent to help explain how much coverage you have.

3. Closed Or Settled Claims -

3. Obtain Copy Of Policy: Even if your claim was closed years ago and you have a differnt incurance comany, you can request a certified true copy of the “FULL” insurance policy, with Declarations page, at the time the fire occurred. As well, this type of documentation will be useful when you consult with a fire insurance claim appraiser.

4. Closed Or Settled Claims -

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. Closed Claim -

4. 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/contact-us.html 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 fire claims appraisers works directly for the policyholders. 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.

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.

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How to Simplify the Process of Making an Insurance Claim

Oct 15, 2009 Business Insurance

by Adriana Noton

Insurance is an important and necessary life investment. Insurance protects you against any unfortunate events that result in damage or loss. Making an insurance claim does not always mean that you will receive compensation for everything you claim. It is important to know what you are doing when you file a claim in order to receive compensation. Although insurance companies may have different requirements for filing claims, especially for different types of insurance policies, below is a list of general tips to filing a claim that will help with obtaining successful compensation.

Determine Whether You have a Valid Insurance Claim: It is important to read over your insurance policy to see what your coverage entails. Make sure you look at the “exclusion” section. You should also find out all of the requirements that you have to meet to be considered for compensation. Find out the amount of the deductible you have to pay. It is important to be aware that sometimes it will cost you less to make a repair or replacement than if you file a claim. If you have made several claims in the last few years, your insurance premiums could go up.

Contact your Insurance Provider: Contact your insurance provider shortly after the event happens. Provide your name, address, policy number, and the date and time of the event. You should also write a letter to them detailing what happened. Keep a copy of the letter. It is important that you do not delay filing your insurance claim. Most insurance providers have a toll free claim number.

Notify Appropriate Organizations: Contact any department that needs to make a report such as the police. Your insurance provider will need proof of what happened that caused you to file a claim. If you are in an accident, make sure you do not admit that you are at fault.

Gather Important information: Depending on the particular insurance claim you are filing, it is important to collect all relevant information. This can include: receipts, photographs or video of the scene of the event, an itemized list of what was lost, stolen, or destroyed, a list of witnesses, the names and badge numbers of police and emergency personnel, any expenses you sustained as a result of the event. You should write down any details as soon as possible after the event. Make sure your details are accurate and thorough. As well, make sure you get a copy of all police and medical reports.

Obtain Multiple Estimates: If you are filing a claim for damage, make sure you get three quotes of the estimate of the cost of repair. As well, check to see if the insurance provider has a list of accepted repair companies.

File the Insurance Claim: Once you have collected all of the important documents, submit your claim. Most policies have a deadline when submitting a claim so check your policy to find out your insurance provider’s deadline.

An incident that causes a person to file an insurance claim can be very stressful. Knowing what to do prior to an event, will make the claims process much easier and faster.

About the Author:
After purchasing a car, the next step is to look for auto insurance quotes. Choosing the right one is important because you could potentially be using it for many years. Researching for car insurance online can definitely be helpful.

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Home Inventory, Or Else!

May 6, 2009 Home Insurance

If a disaster ever destroys your home, your insurance company will want an inventory down to the last sock.

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Short Term Car Insurance

Dec 10, 2008 Auto Insurance

by Tom Martens

Short term car insurance will be expensive due to high risks, especially in places such as South Africa. Knowing how to lessen the fees will help lead you down the correct path.

First, why are the costs so high? Higher short-term insurance premiums are caused by the risks associated with car insurance, and South African roads have become considerably more treacherous lately. South Africa has one of the world’s highest rates of traffic accidents and fatalities. Driving privileges have been extended to many people who don’t know how to drive properly.

You will find that as more upgrades are offered on cars the price to insure those cars will also go up. And looking at history you will also find that younger drivers, 18-30, will pay the most for their insurance.

In the homeowners and household insurance market, the main influencing factor is fraud. Some estimate are that six to 10 percent of short term insurance claims are fraudulent. That amounts to more than R2 billion each year.Insurers must also consider car theft and hijackings as they calculate their premiums. The latest statistics show a decline in thefts, but the rate of hijackings continues to rise.

Now, how can you overcome these factors for your own personal situation? Even though you have no control over the number of fraudulent claims, you can keep their effects from impacting your premiums. Try making the offer to your insurer to submit to a polygraph test each time you submit a claim. Many will offer a substantial savings on your premium in return for your honesty.

For car insurance, start by increasing you excess as this can lower your premium. Take this into consideration as you gather quotes. Also, be sure you can afford to pay the excess amount you choose in the event of a claim.

Keep a clean driving record. The fewer claims you have, the less risk you represent. If you already have a sketchy driving history, research driving courses offered by automobile manufacturers and the Automobile Association. This can help offset a negative history. This is also an option for good drivers. Most insurers will consider reducing your premiums if you attend and pass one of these recognized courses.

And, if you live in a high-crime area, consider moving. This can reduce both your car and homeowners insurance rates. Adding security devices can help as well. Anti-hijack devices and global tracking systems are good investments for this purpose.

Finally, shop around for the best car insurance rates. But be smart. The cheapest insurance is not always the best. Be sure the policy you choose provides adequate cover for your needs at a price you can afford.

About the Author:
Tom Martens is the syndication coordinator for Carinsurancesa.co.za. South Arica’s leading car insurance portal.

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