Navigating Insurance Claims After a Loss: Why Expert Insights Matter
When disaster strikes—whether it’s a storm, flood, or hurricane —your priority is to ensure the safety of your family and home. Once the immediate danger has passed, the next step is assessing the damage and filing an insurance claim. But here’s where things can get tricky. Dealing with insurance companies can be daunting, especially if you’re unfamiliar with the ins and outs of claims and repair cost estimating. This is why having an expert insurance appraiser on your side is crucial for impartial and fair assessments.
Here’s a guide to help you navigate the following steps, avoid common pitfalls, and ensure your claim is handled correctly.
1. Document Everything: The First Step of the Process
The moment you notice damage to your property, start documenting immediately. Take clear photos of all affected areas, including the interior and exterior of your home. Don’t assume anything is too minor to document; small details can add up regarding repair costs.
- Pro tip: Take multiple angles of the same damage to ensure nothing is missed.
- Note: Keep a detailed inventory of any personal property that was damaged or lost.
The more thorough your documentation, the easier it will be to substantiate your claim.
2. Understand Your Role in the Claim Process
One of the most important things homeowners need to realize is that it’s up to you, the policyholder, to prove the full extent of the damage. The insurance company will conduct its assessment, but its goals may not align with yours. Their estimate may not reflect the actual cost of repairs.
If you disagree with their assessment, you have the burden of proof to prove that their estimate is inaccurate. This is where an expert insurance professional can make all the difference. Working for you, The Policyholder, they will give a fair estimate of repair costs, helping you substantiate your claim and avoid getting short-changed.
3. Pitfalls to Avoid When Dealing with Insurance Companies
- Assuming your insurance company will take care of everything: Unfortunately, insurance companies are businesses whose goal is often to minimize costs. You’ll need to be proactive and thorough.
- Not understanding your coverage: Familiarize yourself with what your policy covers—and, more importantly, what it doesn’t. For example, standard homeowner’s insurance policies do not cover flood damage. You can only get flood insurance through the National Flood Insurance Program (NFIP).
- Not securing expert insights: You may have an undervalued claim if you rely solely on the insurance company’s assessment. Bringing in an experienced insurance professional ensures you have an accurate assessment that accurately reflects your loss and the necessary repair costs.
4. The Challenge of Flood Insurance Claims
If you have flood insurance, be prepared for a long and often complicated process. The National Flood Insurance Program (NFIP), the only flood insurance provider, is restrictive and slow-moving. Coverage is limited, and many homeowners find the process frustrating and the payouts underwhelming.
- Be prepared for disappointment: Flood insurance coverage is less comprehensive than standard insurance policies. Knowing this going in can help you set realistic expectations.
5. How to Ensure a Fair Settlement
While dealing with your insurance company, here are some key steps to protect yourself and ensure you get a fair settlement:
- Get your own estimates: Don’t rely solely on the insurance adjuster’s estimate. Bring in a contractor, or even better, an insurance professional specializing in FEMA protocols for damage assessment and repair cost estimating. If you dispute the insurer’s numbers, this will give you a solid foundation.
- Communicate in writing: Always document your communication with the insurance company. Email is best, as it provides a written record to which you can refer back if necessary.
- Stay persistent: The claims process can be slow, but don’t let delays discourage you. Follow up regularly with your insurer and be firm in your communications.
6. Why You Need Professional Damage Assessment and Documentation
Public Insurance Professionals are a solid line of defense when navigating the claim process. They are adjusters, Appraisers, and building Consultants who work for the policyholder. They are not aligned with insurance companies; they work for you to represent your rights and interests. They should have in-depth knowledge of construction, repair costs, and insurance practices. Their job is to assess your damage and provide an estimate that accurately reflects the cost of repairs. Your insurance company will of course be looking to protect their own interests and sometime just make mistakes. The insurance company adjuster may be inexperienced or have limited authority to write larger losses.
Public Insurance Adjusters, Appraisers, and Building Consultants can:
- Provide a detailed and properly documented estimate of your property damage to PROVE the extent of the damage and repair costs.
- Help you gather this evidence to dispute a low insurance settlement.
- Guide you through the often-confusing process of filing claims, ensuring you meet deadlines and follow all necessary procedures.
Final Thoughts: Be Proactive and Prepared
When disaster strikes, your focus should be on recovery. But when it comes to dealing with insurance companies, being proactive and seeking expert guidance is the key to getting the compensation you deserve. Don’t rely solely on the insurance company’s version of your damages and costs. Protect your interests by working with an experienced insurance appraiser who can give you a fair, impartial assessment.
Remember, it’s your responsibility to prove the extent of your damage, and having an expert on your side will make all the difference. Whether you’re dealing with storm damage or filing a flood claim through the NFIP, staying informed, documenting everything, and getting professional support will help ensure a smoother and more successful claims process.
Bell Property Loss Consultants are Building Consultants whose expertise is in Accurate Valuation of Damage for any insurance claim. We provide written estimates and the proper documentation to ensure your claim is processed and paid properly. If your claim is not being settled properly or actively, there is a process in the policy called Insurance Appraisal. Bell Property Loss Consultants are expert Appraisers and Umpires that specialize in Disaster Recovery and will get your claim solved through the Appraisal Process. Click here for a sample Appraisal Clause.