Claim Tips



Top 15 Insurance Claim Settlement Tips

insurance claim settlement tips

Insurance Companies Have Experts Working For Them, You Should Too!

The public adjusters at Insurance Claim Recovery Support urge policyholders to take the appropriate steps to avoid settlement complications by reviewing these insurance claim settlement tips.

1. Be sure to continue to pay your insurance premium and mortgage!  Be pro-active but patient in the claim process.

2. You’re not on a level playing field when you’re dealing with an insurance claim.

3. Think of your insurance claim settlement as a business negotiation—you’re dealing with a for-profit company.

4. Give your insurance company a chance to do the right thing, but don’t mistake a friendly representative for a friend.  Do not make permanent repairs until the insurance adjuster has inspected your property.

5. Document and support your claim with proof, details and estimates.  Take extensive photos and video of damage.

6. Present clear requests in writing that explain what you need, when you need it, and why you’re entitled to it.

7. Don’t pad or exaggerate your claim.

8. Don’t sign legal documents without consulting with a qualified attorney.

9. Try to resolve problems informally but complain in writing, go up the chain of command and/or use government agency help when necessary.

10. Review your entire policy(ies) for coverage and endorsements.   Interpretation of policy and scope of loss can make or break your insurance claim settlement results.

11.  You have the right to control and select who does your repairs.  Do not sign over your claim to a contractor or restoration company. Carefully review any restoration contract and do not authorize any repair work until you get written approval from your insurance carrier. You can have a restoration company clean-up the immediate mess but are not required to have them also do the repair work. Make sure you maintain control of your insurance payment.

12.  Don’t feel forced to use the contractors your insurance company recommends. Get independent estimates for the repair work. It’s your property and you should control who does the work and the quality of the work. Sometimes insurers hire contractors based on cost only and you may not get the quality restoration work you require.  Questions to Ask Any Roofing Contractor BEFORE You Let Them on Your Roof

13.  Don’t allow any work to be done unless you have some written approval from you insurance carrier. They may refuse to pay the claim without prior approval. Make sure you get and keep everything in writing.

14. Ask your insurance company for an advanced payment on any undisputed amounts of the claim until an agreement can be reached on the rest of your claim. This will help you get repairs started and avoid heavy out-of-pocket expenses.

15.  If you feel overwhelmed or intimidated by the process or feel your insurance company is not offering a fair settlement, consider hiring a public insurance adjuster to help with your claim from the start on any claim exceeding $50,000 in damage. Public adjusters are typically compensated on a percentage of your recovery. In disaster situations it is typically no more than 10%. Hiring a public adjuster.

Items Needed To Get Started….

All Claims

  1. Copy of insurance policy and/or Declaration Page
  2. Copies of vendor/contractor invoices, bids, payments, etc. on all repairs to date.
  3. Copies of any receipt for materials that we used for temporary, emergency, and permanent repairs.
  4. Copies of any correspondence with the adjuster, insurance agency, insurance company, etc.
  5. Copies of any claim reports prepared by any adjusters or their estimators.
  6. Documents that confirm the date of the original construction, blueprints, remodeling plans, etc.
  7. Adjusters contact information.
  8. Agent/broker contact information.
  9. Cause of Loss
  10. Date of Loss

For Business Interruption Claims

  1. Copies of the last three years income statements.  If we had a growth trend that can be supported from the last four or five years we will also need those financial statements.
  2. Copies of the rent rolls that shows occupancy trends for the last three years.  Same as two above, it the rent rolls were steadily increasing during the past five years then we need all the statements.

Get specialized professional help when you need it, call Insurance Claim Recovery Support toll free at 855-203-2226 for a free consultation.