Fire Insurance Claims – Tips To Help You Through The Disaster
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.
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.
Unknowingly policyholders often assume that when their insurance company sends them money and they deposit the funds in their bank account that the claim is closed. This is not true at all. The fact is; in most states the policyholder has up to 3-years to submit a claim and even the same time to ADD damages to an existing claim. So, the answer is yes, you can have a professional review your claim to see if you have been properly compensated, during the claims process or even years after the claim has been closed. Policyholders can also obtain more insurance proceeds from claims – even if the building has been torn down, demolished, and/or removed.
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 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 -
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 Of Your Building: The insurance adjuster has taken photos of your building during their inspection. If you have no photos yourself, or minimal photos – then request all photos taken by the adjuster from the insurance company. You should also request the diagram/sketch they used to calculate the square footage of your building. Also request the complete detailed estimate they have written to arrive at their numbers. This documentation will be useful for the fire insurance claim consultant you choose.
2. During Claim -
2. Document The Contents Damages: Next you will want to visit each room, hall, and closet again. However, for this go around you will be collecting the inventory of all contents in the rooms. In the same way we photographed the rooms; you will take an overview photograph of each individual piece of furniture, each set of shoes, each individual pair of pants, shoes, ect. After each individual overview is taken you will then take close-up photographs of the damage to that individual item as well. (Like water stains, smoke, or burn marks, etc.) List each individual item onto a Contents inventory Form. ( You can request one for free at http://www.insuranceclaimsgroup.com/contact-us.html ) The say way we took the photos of the rooms and write the list will also help organize them. For Example; Take an overview photograph of a room prior to entering. Let’s say your first room is the living room. Take an overview and then proceed around the room clockwise, to your left. Picture and list each item on left wall, then each wall after, until you return to the doorway where you began. It is very important that you do not bounce around the rooms. This helps keep the items and your list organized and ensures items will not be left out, forgotten or totally missed. After each individual item of the living room has been listed and photographed, continue to the next room. Again, you will start with the overview photograph of that new room. This also organizes the contents by the rooms they were in. Just as important is to list the names of the rooms at the top on each page of the list. The pictures and the lists are now both organized in sequential order with each other.
2. Closed Or Settled Claims -
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 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 -
3. 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 -
4. 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 Claim -
4. Consult A Professional: Did you receive a fair settlement for your fire insurance claim? How do you know unless you ask someone? If you are unsure if you have obtained a fair settlement from your insurance company, you owe it to yourself to find out. If you have collected all the data as outlined above; you will have enough data on your claim to have a professional review it. A review of your claim will allow the fire insurance claim consultant to advise you where you stand. Leaving yourself in the dark, with a chance of forfeiting tens of thousands of dollars, or even hundreds of thousands of dollars makes zero sense. A small fee to find out where you stand is a small price to pay, compared to a large sum of insurance proceeds that you did not know existed.
(Free Consultation: Getting help is easier than you think. We provide a no cost review of any present or closed insurance files. Call for your Free Consultation at any time 919-669-9111. Or visit online at http://www.insuranceclaimsgroup.com/contact-us.html )
The reasons are clear and simple. The facts are this, the adjusters work directly for the insurance company, where the fire claims appraiser or consultant works directly for you. You already made the right choice by making sure you were properly insured. It is now up to you to continue with the next steps. That is to research that you have properly compensated for the policy you 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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