Property Damage Claims & Mortgaged Properties

When property damage has been sustained whether by natural disaster, accidental, or otherwise, a mortgagor (borrower) will often elect to have a professional handle his/her claim by means of a public insurance adjuster.  What typically happens is the public adjuster will then contact the mortgagee ( the lender of said secured loan) to notify them that they have been hired by the mortgagor to settle the insurance claim for the sake of the mortgagor.

Documented paperwork & photos will go far in further proving your claim.  Be sure to read your policy to make sure you know what you are and aren’t covered by in your policy.  Certain aspects of damage may require a rider (additional clause or provision of extended coverage)  Things like a fire that spreads into the common areas are things  you will need to know that you are covered for before you call your insurance company.

Some property owners find out after the fact that the process for recovering your damages and filing a claim can be quite tedious and time consuming.  For some property owners, they have found hiring a “Property Claims Adjuster” to be quite valuable.  Also known as a public adjuster, they are a rather uncommonly known type of loss specialist committed to helping policyholders get fully indemnified by their insurance policies. Many companies centralize claims adjustment in a insurance claims center, where the cost of repair is estimated and a check is issued immediately.

A public adjuster can:

  1. Settling your claim for the greatest amount
  2. Serve as that necessary second opinion required by insurance claims
  3. Negotiate on your behalf with your insurance company
  4. Advise you of your options and keep you informed every step of the way
  5. Evaluating your policy to help present the strongest probable claim to your insurance company
  6. Measuring and document losses to prove your losses (i.e., belongings,  house,  extra living /operating cost)
    Giving you time to focus on recovering personally

The difference between a Public Adjuster also known as an independent Claims Adjuster and an Adjuster that works for the insurance company is quite distinct.  An  Adjuster hired by an  insurance company works for, and is paid by, that insurance company.  This type of Adjuster will have an apparent bias in favor of the insurance company that hired him/her .  An independent Claims Adjuster works strictly for the policy owner and has only their best interests in mind.

As the reputation of insurance carriers not paying its policyholders fairly on property damage claims grows, consumers are growing wiser and now turning directly t to a Property Damage Adjuster before initiating the claims filing process to raise their chances of not only a proper settlement amount but also to improve likelihood of claim approval when  damage has occurred.

If you have sustained property damage to your office building or any other type of property, give us a call. Find out how we can help: 800-602-9915