Water damage is a common problem in both commercial and residential properties. It is, therefore, important to get insurance against water damage to mitigate your losses in such a situation. Even with timely premium payments, getting a settlement after water damage is a complicated process.
Having an experienced professional by your side makes the water damage insurance claim process easier and ensures that you get a fair settlement. A public adjuster is the best person to guide you. Here are some ways they can help maximize your settlement.
Managing Loss Investigations
The insurance company typically sends their adjuster within a few days of filing to investigate your claim. The questions asked are intended to reveal your loss, but how you answer them will affect your settlement amount. It is prudent to have a public adjuster by your side to help you deal appropriately with the analysis of your insurance company.
Disputing Actual Claims Values
Some water damage claim settlements are based on a cash worth of depreciation. Actual cash values rely on depreciation lists and charts, which analyze the value of your damaged items. Your settlement might be unfairly low if your assets fall out of the set average categories. Your public adjuster can help you dispute a low offer with relevant facts and documents.
Handling Coverage Issues
Dealing with an insurance company comes with a fair share of surprises. You may never realize there are any coverage issues with your claim until you get a declination of coverage or reservation of rights letter. A public adjuster can help identify coverage issues in your claim and deal with them before they get out of control.
Make sure you notify your insurance company immediately after water damage occurs. Keep a detailed record of your communication with the insurer and make copies of all correspondence. This might prove valuable evidence in your water damage claim.