The joy and pride of owning a home cannot be over-appreciated. Creating something for oneself is immeasurable, and the satisfaction of knowing one’s sweat equity was put into their home is unique. The devastation of receiving fewer claims from an insurance adjuster than expected is not something one can easily do away with. To add insult to injury, the price of insurance premiums is at an all-time high. To understand the pain and frustration of receiving a less than perfect settlement from an insurance adjuster, one must first have some knowledge of what the policy is meant to cover. Home insurance policies in the United States have three basic types of coverage. They include dwelling coverage, personal property coverage, and personal liability coverage. When one thinks of home insurance, the focus is usually on dwelling coverage. This is the foundation of any home insurance policy. If one were to remove the dwelling coverage from a typical home policy, there would be no point in purchasing a policy at all.
Suppose a dwelling insurance policy does not cover a home. In that case, the homeowner is responsible for repairing and replacing property (personal property) damaged or destroyed to the value at least equal to the total cash value of that portion of the dwelling. The home’s structure determines the cost of repair and replacement, the number of square feet, whether the place is in a mobile home park or a rental home, and other factors.
How to Know if the Insurance Company is Working on a Claim
The insurance company typically has 15 days to respond to a claim. Once a claim has been submitted, the insurance company will begin an investigation of the claim. The research is somewhat like a police investigation. It is determined if there was negligence on the part of the insured. With the insurance company’s investigation, they will draw up an estimate.
In the case of a natural disaster, it may take longer for the insurance company to inspect the damage and make their decision. When the homeowner begins making repairs, they will be required to submit photos or videotapes of the damage. The images may include but are not limited to:
- Water damage
- Mold Damage
- Mold Remedation
- Plumbing Fixtures
Need help with my Insurance Claim
Time and events have a way of testing a person. In the United States, there have been different situations that have caused “stress” in the lives of homeowners. One such situation is hurricane damage. Hurricane Katrina is an excellent example of this. The result of every storm is damage to residential buildings and contents.
When disaster happens, a homeowner is left with no choice but to come up with a sum of money to repair or rebuild. Certain principles apply when dealing with homeowners insurance policies. One is the right of subrogation. This means that when a claim is paid, the insurance company has the right to have its interests satisfied by subrogation. This means that in addition to being paid, the insurance company can come after other parties to meet whatever is owed.
Homeowner’s insurance policies have what is called a deductible. This is the amount a homeowner must pay out of pocket for a claim before the insurance company will step in and pay up to the policy limits.
Deductibles are used to offset the cost of the insurance company’s investigation. The insurance company has to be sure that they are dealing with a valid claim before they will pay. This is one way of insuring against fraudulent claims.
Before filing for compensation in the event of destruction, a homeowner must know what their policy covers. Misinformation and ignorance are the roots of many issues in cases like this. A homeowner must know precisely what their coverage is for to build arguments and interpretations of what has happened to their home.
Some policies do not cover natural perils such as earthquakes, tornadoes, and hurricanes.
These natural perils will not only destroy the physical property in a home but can also destroy personal belongings and items. When presented with a dismal offer, a homeowner should first review their policy to ensure that all damages incurred are included in the policy. A poor investigation on the part of the insurance company may be the primary cause of the homeowner receiving less than optimal compensation for the damage incurred.
Insurance Adjuster Under Paid my Claim
An underpaid claim is a claim that was not valued at the total cost of repairs. The damages suffered do not include the cost of repair or replacement. An underpaid claim often triggers an insurance company to walk away from a policy. Insurance companies are notorious for walking away from policies that are not profitable to them.
Businesses have to operate for profit, and insurance companies are not the exception. An underpaid claim will most definitely work in favor of the insurance company, but this does not necessarily mean that this is the way to go. Homeowners must realize they have been underpaid and not hesitate to take action. Additionally, one must remain objective in their pursuit of fair compensation. It is vital to seek legal counsel to ensure fairness.
If one is underpaid, one should not shy away from confronting the insurance adjuster. After all, the first offers by insurance companies are more often than not dismal, and it is not uncommon to find low compensation in the beginning. Before the homeowner arrives at the negotiation table, they should do their research and go into negotiations with the best arguments possible.
Consumers can recover compensation for their loss when policies are misrepresented or omitted by an insurance company. Again, the homeowner should document their pre-loss conditions before getting to the negotiating table. Documents used may include but are not limited to:
- Original house plans
- House appraisals
- Inspector’s reports
- House listings
In addition, the homeowner should ensure that they have documented costs incurred in the building process through receipts such as building permits, pre-purchase inspections and testing, contractor invoices, and other relevant documents. A homeowner should also be confident that they have documentation of any repairs made to the home and a timeline for the repair process. If qualms about the homeowner’s compensation are not addressed satisfactorily, they are free to seek further redress.
File a Complaint About my Insurance Adjuster
The state office of insurance regulations oversees the insurance industry. They ensure that insurance companies are operating in compliance with the law. If a consumer has a problem with an insurance company, they can file a complaint.
When the homeowner is sure beyond doubt that the insurance adjuster has acted maliciously to deny them the correct amount of compensation for their loss, then it is time to file a complaint with the state office of insurance regulations. A consumer must know the proper procedure to file a complaint, which could result in additional compensation being paid.
The state office of insurance regulations retains the power to send a formal complaint to the insurance company. Complaints on unfair treatment, misrepresentation, and deceptive practices can be submitted. The insurance company will be given time to respond to those complaints, failure to which the involvement of an attorney is recommended.
As the insurance company’s responsibility is to ensure that the homeowner’s claims are promptly paid out, if this does not happen swiftly, a homeowner should seek an attorney for legal advice on how to proceed. If a lawyer is utilized, one must find a lawyer who has worked on cases similar to theirs. Some lawyers may not understand the process and may not have the homeowner’s best interest at heart.
An attorney who specializes in these types of cases may be able to help by advising a consumer on how to proceed. If the insurance adjuster is found to be culpable for malicious actions against the homeowner, then an attorney may be able to pursue additional compensation. Failure to comply with the deadlines set by the state office of insurance regulations may result in sanctions against the insurance company. The homeowner should also know they have the right to sue an insurance company for compensation if they are not happy with the offered amount.
Use a Public Adjuster
A separate estimate from a public adjuster may give the basic range of the property’s value. The assessment may also include claims of similar properties in the neighborhood or comparable properties in the area that have recently sold. The public adjuster can help provide information about comparable properties and what has happened to them after a loss.
Perspective can help, including the outside opinion of a public adjuster to see if there is any reason why the homeowner’s property should be valued less. It is vital that a homeowner not give up the opportunity to receive additional compensation for their loss. In some cases, it is possible that an insurance company does not cover all of the damages incurred.
Florida insurance adjusters in the state of Florida, for example, are the only ones insured to perform loss adjuster duties. They are highly trained and certified so that if an error is made, the interests of both parties are protected.
How do I write a Review on my Insurance Adjuster?
The easiest way to hold an adjuster liable for their actions is by publicly publishing the facts of the case. Most insurance companies are very attuned to what their consumers say about them online. A review of the adjuster handling a claim is often more critical than the post-event cleanup. In addition to holding the adjuster liable, a check is a great way to inform other potential insureds why they should avoid that insurance company.
There are many ways to write a review on an insurance adjuster. The first step is choosing where the study will be published. The internet does not fall short of platforms where people can express their views; a consumer must know which platforms they should use to post their reviews. A review needs to be objective and unbiased, but it also needs to be expressed as rationally and honestly as possible. One such platform is www.reviewyouradjuster.com. The platform allows victims to express themselves through unbiased opinions that will, in the long run, help to reshape the insurance industry.
The natural tendency is that people will post a poor review online when they are unhappy with how their claim was handled. Although posting a negative review is nothing of the ordinary, the assessment must be honest and direct.
Another point of interest in reviewing insurance adjusters is asking for compensation for damages and losses. One should be careful to avoid receiving a reply from an insurance adjuster that argues with them or tries to explain why the situation is the way it is. If a homeowner is not satisfied with the extent of compensation they have received, then it is best to seek an attorney for additional advice.
In addition to warding off potential victims, an insurance company will be able to learn about the behavior of its adjusters. If more people post reviews on the company’s adjusters and the information varies significantly, an insurance company will better identify problem adjusters. Finally, adjusters will be encouraged to change their behavior for the better or risk having their reputation tarnished online.
Conclusion
In conclusion, the insurance adjuster is responsible for ensuring that their clients receive the proper compensation for their claims. When an adjuster fails to do so, they violate several laws. Victims of poor recompense should know they have the right to find legal advice and hold the adjuster liable. The easiest way to do this is by publishing an unbiased review on the adjuster to warn other potential clients and assist insurance companies in identifying problem adjusters.
Before seeking litigation, mediation may be the first step a homeowner should take. Mediation is a legal process that allows both parties to come together to reach an agreement or settlement. Through this process, a mediator assists the parties in finding an acceptable solution for both. To keep the cost of litigation down, a homeowner should consider using a mediator when settling their lawsuit. This can be beneficial for both parties involved. The adjuster may be willing to pay a homeowner that has sought mediation. However, litigation may be the only solution if mediation does not work.