By Joe Brennan
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.
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.
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.
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.
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.
It's up to YOU, the policyholder, to do your part to protect yourself. Here are tips to help individuals with fire insurance claims. There are helpful tips for policyholders in the middle of their claim - as well as help for those with claims that are closed.
1. During Claim -
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 Process -
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. 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 Claim -
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. During Claim -
4. Consult A Professional: The insurance company will have an adjuster visit the property, inspect the damages, and complete an estimate on the amount of loss. It is important that you have the same process completed for yourself. How do you know the insurance adjuster is doing their job correctly? Are you willing to forfeit tens of thousands of dollars by not taking the time to make sure? The insurance company is supposed to explain all the fire insurance claim coverage that is available to the policyholder, however, this is rarely done. Sometimes it's done on purpose, and other times it's also done on purpose (Did you catch that? This is done on purpose more often than not.) It's your property, it's your policy, and it's your money. Educate yourself to be sure you are being fully compensated for your loss. Hire a fire insurance claim professional to review the insurance company's evaluation. Obtain your own "real-world" prices and costs to replace your property.
4. Closed Claim -
4. Consult A Fire Professional: Have you obtained a fair settlement for your fire insurance claim? How can you be sure unless you ask someone who knows for sure? If you are not 100% sure if you have received fair settlement from the insurance company, you most definitely owe it to yourself to investigate. If you have collected and reviewed all the documents as outlined earlier; you will have sufficient documentation to consult the opinion of a professional. A quick review of your claim is all a fire insurance claim consultant needs to advise you where you stand. To leave yourself in the dark, with a notion of forfeiting tens of thousands or hundreds of thousands of dollars on the table - does not make much sense. A minimal fee to gain an understanding of where you stand is a tiny price to pay. Compare that to a large lump of insurance proceeds that you were not aware 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 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.
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