Many policy holders often assume that filing a claim is an easy process. What they don’t realize is the number of mistakes that can be made and the significant impact it can have on recuperating the full settlement value of your loss. Below we have compiled three of the most common mistakes that insurance policy holders will often make when it comes to understanding the claims process.1. Not using a Public Adjuster to help settle your property claim
Often times, many policy holders forget to use a public adjuster after suffering a significant property loss. As a result, hundreds, possibly thousands remain in the pockets of the insurance carrier, leaving you to bear the financial burden of recuperating the difference to restore your property. Often this places a looming uncertainty on property owners who were relying on their insurance policies to recoup their loss. Unfortunately, this is not always the reality and can come at a cost, which is why public adjusters have become an invaluable asset and advocate to ensuring proper settlement reclamation.What is an independent Public Adjuster?
Public Insurance Adjusters are independent, licensed professionals who work for the individual and business policy holders-not the insurance companies- to ensure that they reclaim the full value afforded to you by your current policy. At FirstCall we help to further evaluate the property loss on behalf of our clients, we monitor the claim with the insurance company and keep our clients informed of the process. As public adjusters, it is not only our goal to save you money, but also the time, effort, and frustration of handling the overall claim and dealing with the insurance carrier.2. Thinking the insurance company has your best interest in mind
When it comes to dealing with a claim, insurance carriers may project a sincere concern for their client during the claims process, but the truth is often revealed in the low-ball settlements they offer their policy holders, knowing that they can offer more. Unlike insurance representatives who work for insurance companies, the public adjuster works specifically with and for you. Although some may believe that the insurance company has their best interest in mind, often people forget that the insurance carriers are in the business to ensure that their company stays profitable. They have trained their adjusters to know how to cut corners to ensure that they pay out as little as possible. From our steadfast efforts we have consistently helped property owners recover 30% to 70% more on their insurance loss settlements. Having a reputable public adjuster at your side to represent you and keep the insurance carriers accountable provides an invaluable peace of mind.3. Signing or accepting the insurance company offer too soon
Sometimes rushing a good thing does not always yield the best results, especially when it comes to quickly accepting the first settlement an insurance company offers. Although it may make sense to rush the process and start rebuilding sooner than later, this would be a prime moment to stop and question if the offer they gave you is enough. Having a second opinion when it comes to insurance loss settlements is key especially if you are unfamiliar with the claims process. It is possible that the insurance company offer may not account or include all discoverable damages which is important to rebuilding your property after a loss. Before signing or accepting an offer, let FirstCall assist you and confirm if the settlement value is appropriate for the loss you’ve sustained.