Policyholders are at a disadvantage when they’ve suffered major damage or a total loss. With homeowner’s insurance, the claims process can last for more than a year, and first-time claimants may not know what to expect. A public Claims Adjusting service works on the policyholder’s behalf to get the settlement they deserve. Below are several reasons to hire a nationwide adjuster.
A Total Loss Claim May Cost Less Than Rebuilding and Repairing Damage
New construction has a lower per-foot cost than rebuilding construction. Oftentimes, it’s easier to fix a problem by rebuilding from scratch than it is to repair damaged areas. Furthermore, it’s often costlier to bring an old home up to current code than it is to start anew. An independent adjuster will help the client decide which strategy is best.
Insurance Checks Are Made Out to Policyholders and Mortgage Lenders
A mortgage lender is typically listed as a payee on a homeowner’s insurance policy, and payments are issued to both parties. The policyholder endorses and sends the check to the lender, who puts it in escrow until the necessary repairs are made. Funds are released in installments, as the mortgage lender wants to be sure that repairs are done properly. An independent adjuster will work to get funds released as quickly as possible.
An Independent Adjuster Will Keep Clients From Signing Away Their Rights
In some areas, insurers issue checks marked as full and final settlements. When a homeowner signs such a check, the insurer is no longer responsible for the claim. An insurer may ask a policyholder to sign away their rights when they believe a dispute may arise, but an independent claims service will advise the client not to sign the check.
Nearby Adjusters Are Familiar With Local Expenses
After a natural disaster, an overworked insurer may bring in an out-of-state adjuster who doesn’t know local labor and construction costs. In such a situation, the insurer may use a software program to estimate costs, which can be highly inaccurate. Local adjusters are familiar with building codes and construction costs, and they do a better job of getting the client the settlement funding needed to rebuild.
Hiring an Independent Insurance Adjusting service puts the policyholder on an even footing with his or her insurer. Independent adjusters can explain the claims process and work on clients’ behalf by handling emails, phone calls, meetings, and documentation involved in a significant claim. With the adjuster’s help, a claimant can get on with life as the claim progresses.