If you've never had to file an assurance claim, consider yourself lucky - in more ways than one. While it's dreadful that you haven't suffered a loss valuable enough to file a claim, you're also lucky not to have had to suffer straight through the assurance claim game.
How do you play the assurance claim game? Let's just say that there's more complicated than tossing the dice, crossing Go and collecting 0. While the object of most games is to win, this game starts with a loss. It doesn't matter what the loss is; it could be a crunched car, burned down house, theft of valuables, water damaged carpets and cabinetry, a blown off roof, or any amount of damages. Anything the loss, that's the hand you're dealt.
DRYWALL SETTLEMENT
Each distinct loss type has its own connected hassles. This makes the game more challenging! Let's say that your house has been flooded thanks to a burst pipe in the walls. Not only do you have a loss, you have a major mess and the inherent for additional damage (such as mold increase if the home is not dried out within 72 hours). The clock is ticking. Isn't this fun?
But we're just getting started. You also have security hazards to deal with, urgency repairs to make, assurance paperwork to file, water damage professionals to hire, and temporary lodging to find.
Now, your opponent takes a turn. Who's the other player in this game? Your assurance business and, yes, they are playing against you. At stake is potentially tens of thousands of dollars and this isn't Monopoly money we're talking about. This is real U.S. Treasury currency.
You've paid your premiums and you are entitled to a fair settlement. However, the assurance business is a business that must minimize losses in order to be profitable. This includes minimizing Your loss.
Insurance fellowships often have contracts with "preferred" vendors who have agreed to pre-determined rates in order to earn their business. One of the first moves any assurance business makes is to steer you to their adored vendors.
Your turn. While using the assurance company's recommended contractor may be fine if you don't have a preference and are unsure of whom to call for repairs, you are under no enforcement to result their recommendation. Most states allow "customer choice," meaning you can pick your own contractor for repairs; in this case, a water damage resumption company.
Your opponent's turn. Your assurance business is on the offense and will send an adjuster to your home to estimation the damage. This adjuster is kindly and likeable. However, he is a business representative that needs to minimize losses. He may overlook those warped baseboards or suggest a coat of paint rather than unblemished drywall removal. In addition, he won't necessarily prompt you to list all damaged personal belongings.
Your turn. Because your opponent is on the offense, you must put up a strong defense. Start by having either your contractor or a collective assurance adjuster (an assurance adjuster that represents you) present when the adjuster arrives. By having a expert on your side, less certain damage won't get overlooked or underestimated. In addition, have a unblemished catalogue on hand documenting All damaged items, big and small. This ensures that nothing is overlooked.
The game continues with your opponent throwing mountains of paperwork your way, claim denials, low-ball settlement offers, unnecessary delays, and other tricks from their play book. If you play your cards right, you'll work out a fair settlement offer, hire a reputable contractor for repairs, replace your damaged items, and restore your home to its former condition.
If you must play the assurance claim game, remember that your assurance business has a huge home field benefit because the business plays the assurance claim game day in, day out. You only play it a few times in your lifetime - if you're lucky.
The assurance Claim Game DRYWALL SETTLEMENT
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