Policyholders are way too trusting. Most people will rely on their insurance company adjuster to visit their home, inspect the damages of their claim, and provide a final claim settlement for their damages. This process alone 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.
Have you ever obtained a second opinion before having a mechanic do major work on your car? Have you; or anyone you know; ever secured a second opinion before having surgery? A second opinion when hiring a landscaper, hen buying a computer, or when hiring a contractor? Have you ever obtained more than one estimate to have work done on your home? Excuse me for assuming that you’ve answered a very loud and proud “YES,” to more than one of these questions, or al for that matter. Then why will policyholders (homeowners and business owners) allow the insurance company’s adjuster to out-right “TELL THEM,” what the damages of their insurance claim will cost?
Most insurance adjusters have learned how to pass an insurance claim exam and learned how to use an insurance estimating program… but have never worked on an insurance repair job. Many have never built or repaired a home, nor have they ever worked for any type of Construction Company. Chances are they will miss something needed to properly complete the repairs of your claim.
It’s YOUR property, it’s YOUR insurance policy, and it’s YOUR responsibility to protect yourself. Again, your adjuster may be dead on with his/her analysis. Regardless, you should have a contractor or insurance claim professional provide you with a detailed, line item insurance claim estimate to compare to.
What Qualifies As A Line-Item, Detailed Insurance Claim Estimate?
Some contractors use a complete square foot price for replacing a roof or siding, however, the insurance company will usually request that the estimate be broken-down per line-item. Using an example of a roof replacement; the insurance companies need to view each process and layer of the work being preformed on the roof. They also need to view each type of material that is being used. These should all be listed separately. Here’s a detailed, line-item estimate example;
Although the numbers in the example are fictitious; it shows the basics of a Line Item, Detailed, Insurance Claim Estimate. Each of the line-items has been separated in complete detail. The estimate also breaks-down the descriptions, quantities, unit costs, and totals for each item as well. This type of detail is required and needed, so the insurance companies can compare each of the items unit costs with their adjusters numbers. Submitting the claim estimate in the format requested by your insurance company will result in a much faster settlement of the claim.
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.
Watch out for yourself, protect and educate yourself, and always seek insurance claim help by obtaining a second opinion. This should be the first thought on any and all insurance claim damages you happen to incur. If you fail to look out for yourself… Nobody Will?
Joe Brennan is President and owner/operator of Insurance Claims Group, Inc., a national independent adjusting, appraisal, and umpiring firm. We will review your insurance claim FREE – Ph: 919-669-9111 . Get Insurance Claim Help , by visiting http://www.insuranceclaimsgroup.com , or Fire Insurance Claims Help
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