3 Critical Reasons Why You Should Not Handle Your Own Property Insurance Claim
1.) Overwhelming Amounts of Documentation
It has been almost a year since the fire which completely destroyed one of our processing plants. …I had no idea that the documentation of our claim would become as extensive as it did. Your staff worked tirelessly to quantify the claim. I am convinced that every possible element of our loss was maximized to the extent provided for in our coverage. …You and your staff are true professionals, and the quality and detail of your work is very impressive.
President, Quaker Maid Meats, Inc.
Documenting your property damage claim involves a lot of detailed documentation to evaluate and prove your claim to your insurer – including detailed building restoration estimates, complete property inventories, and more. It is imperative that your claim is timely and as detailed possible; if not done properly it can result in the underpayment, delay, or even denial of your claim. From quantifying your furniture loss to the number of forks in your silverware drawer, everything must be documented in order to be reimbursed by your insurance company properly.
Having a property inventory prepared beforehand listing out your possessions would certainly be beneficial in the case your property is totally destroyed. However, if you do not have one completed, a public adjuster can help to estimate your possessions’ value. By being as detailed as possible, you have a better chance of obtaining a more favorable settlement.
2.) Lack of Experience and Time
At first, I had intended to handle the loss by myself, using our employees. What a mistake that would have been! Luckily, it soon became evident that we had neither the expertise nor the time to effectively handle the loss while continuing to run a business. …Your pledge when you approached me was that you would personally “sift through the rubble” to evaluate the damage from the explosion. This you did, in a manner of speaking, throughout the entire process. Your tirelessness was admirable. Your services were invaluable.
President, Shadowdale Elevators, Inc.
Most home and business owners do not have experience in preparing, estimating, negotiating, or settling a property damage insurance claim – and that is ok! This is a very involved process that requires knowledge of policy, coverages, valuations, your requirements for filing a claim, and more.
Hiring a public adjuster will allow you the time to focus on your family or business and get back on your feet to normalcy. Public adjusters work exclusively for the policyholder, whereas your insurance company’s adjuster has a loyalty and obligation to their employer. Because this is their everyday job, a public adjuster is familiar with all of the important components of the property claims process that you may not know of when settling a claim on your own due to inexperience.
3.) Inadequate Settlements
Had you been handling and guiding the preparation and presentation of all our damage estimates from the beginning, our recovery could have been far greater. I speak from experience when I say that estimates given “off the cuff” and without consideration of all the insurance policy’s provisions can come back to haunt you.
Lanny L. Uden, P.E.
Director of Civil Engineering, Board of Public Utilities, Kansas City, KS
Some policyholders are not adequately reimbursed by their insurer for their loss because their claim was not prepared properly. A public adjuster’s job is to obtain the maximum settlement possible for their client. By hiring a public adjuster, you are having your claim prepared properly from the onset helping to ensure that your recovery is not compromised by your inexperience.
Property damage insurance claims are not for the inexperienced, they take time, effort, dedication, knowledge of the industry, and a certain skillset in order to get you, the policyholder what you deserve as soon as possible.
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