Insurance Advice To All Homeowners In Maryland

Too many policyholders rely on their insurance company to visit their property, inspect their claim, and provide a claim settlement for their damages. Insurance Advice number one is that this 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 new room put on their home. I'm assuming you and most everyone you ask has answered "YES," to all or one of these questions. Then why is it that policyholders allow adjusters to basically "TELL THEM," what they will receive for their insurance claim?

Many insurance company adjusters have attended classes to pass an insurance exam and have also attended classes to use insurance claim estimating programs. However, these same adjusters have never worked for a construction company, nor have they ever repaired or built a home, and many have never repaired any damages at their own home. If you end up with this type of adjuster to assess your insurance claim damages, chances are, they will likely miss items, materials, or construction procedures that are required to properly repair the damages.

Simply put, this is what you have been paying for all this time. To be protected when you have a claim. No one would require insurance advice from a professional to realize that this 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?

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;

The numbers in the estimate example are fictitious; however, it reveals the basis for a Line-Item, Detailed, Insurance Claim Estimate. Each line item has been 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 that a insurance dispute arises – with a highly detailed estimate will allow for a less time consuming and smoother process. It is difficult for insurance companies to dispute your insurance claim estimate when it follows the exact format that they request.

Watch yourself, educate yourself, and protect yourself by obtaining a second opinion on any and all insurance claim damages you incur. Obtaining Insurance Advice makes good sense. If you won't look out for yourself… who will?

(C) Joey Brennen of Insurance Claims Group, an independent appraisal and umpiring firm, can answer your claim questions FREE – Ph: 919-669-9111. Get Independent Appraiser Advice, for your Insurance Dispute

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