Many policyholders will rely on the adjuster sent by their insurance company to arrive for a meeting, inspect the claim damages, and provide an estimate for what they believe is a fair settlement of the claim. This is a mistake of enormous proportion that should almost NEVER HAPPEN!
I’m not saying that there are no good adjusters out there and that they can’t be trusted, not at all. There are many excellent adjusters that do an excellent job. However, are you under the delusion that they will never make a mistake, miss hidden damages, or that they all have multiple years of experience? Not a chance.
You’re most likely one of those people who have had a second opinion before having your car fixed. Possibly you or someone you know has needed a second opinion after seeing a doctor, second opinion when buying a car, a computer, or even hiring a contractor? Most people have had more than one estimate to build a deck, replace windows, or have a ne room put on their home. I’m assuming you and most everyone you ask has answered “YES,” to all or one of these. Then why is it that policyholders allow adjusters to basically “TELL THEM,” what they will receive for their insurance claim?
The majority of insurance adjusters have attended classes of how to pass an insurance policy exam and have attended classes of how to use insurance estimating programs. However, they have never worked for an insurance repair contracting company, have never repaired or built a home, nor have they ever fixed any type of damage at their own home. If you have such an adjuster visit your damaged property, chances are, they will accidentally miss items needed to properly repair your damages.
Simply put, this is what you have been paying for all this time. To be protected when you have a claim. It is YOUR money, it is YOUR insurance policy, it is YOUR property, which in turn makes it YOUR responsibility to protect yourself from mistakes or from being taken advantage of. Again, the insurance company adjuster could be 100% accurate with the final analysis and estimate numbers for your claim damages. Regardless of what you think may be true, YOU should be sure. Policyholders need to have an independent insurance appraiser or contractor provide them with a line item, detailed estimate that will ensure their adjuster was correct.
What Is A Detailed, Line-Item Estimate?
Many contractors may use a square foot cost to replace a roof or siding on a home. However, insurance company usually require an estimate that has been detailed by separating each line-item individually. By using the replacement of a damaged roof in our example; the insurance companies will require that each process and layer of the repairs be listed. They need to view each type of material being used to ensure the insured is not upgrading what they had. Surely the insured can upgrade, but, the insured pays for the difference between what they had and what they are upgrading to. That’s the reason they wish to see all items listed separately. Here’s an example of a detailed, line-item insurance repair estimate;
The numbers in the estimate example are fictitious; however, it shows the basics of a Line Item, Detailed, Insurance Claim Estimate. Each line item is separated in full detail, as well as displaying the description, quantity, unit cost, and total for each of the separate materials and items. This type of detail is needed, and in many cases required, so the insurance companies can view and compare each of the separate items and each items unit costs with their own numbers. By submitting an insurance claim estimate that is formatted in the format requested by the insurance companies, results in a much faster claim settlement.
In the event of an insurance claim dispute a more detailed estimate allows for a smoother, less time consuming process. It’s difficult for the insurance companies to dispute insurance claim estimates that are presented to them in the exact format that they are requesting.
Protect yourself, educate yourself, and watch out for yourself by simply obtaining another opinion on any or all insurance claim damages you may incur. If you’re not willing to obtain insurance claim help and you’re not willing to look out for yourself… Then Who Will?
Joe Brennan is President and owner/operator of Insurance Claims Group, Inc., a national independent adjusting, appraisal, and umpiring firm. We will answer your claim questions FREE – Ph: 919-669-9111 . Get Insurance Claim Help , by visiting http://www.insuranceclaimsgroup.com , or http://www.insuranceappraisalumpire.com
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