What to Expect During a Property Loss Claim

What to Expect During a Property Loss Claim

When disaster pulls the rug out from under your feet, it’s helpful to find stable ground to stand on. Once the dust settles, you can file a property loss claim to ensure you receive just compensation. Here’s what you can expect the process to look like.

Initial Assessment

First, you’ll meet with a claims adjuster. This professional will assess the damage and prepare a detailed report, containing photographs and other evidence. The adjuster will also review your insurance policy to ensure that the specific type of damage you’re facing is covered.

It’s important to do this before opening a claim with your insurance company. A public claims adjuster can prepare a package to document the incident and then submit this package to your insurance provider on your behalf.

The goal, of course, is to provide you with maximum compensation after your home has been damaged by fire, water, storm, or other cause.

Inspection by an Adjuster

Your insurance company will send a field adjuster to perform their own inspection. Your public adjuster will then meet with your insurance company’s field adjuster to compare estimates. 

Ideally, the two estimates should match, but a skilled adjuster can often highlight areas that your insurance company might miss or overlook.

Think of the public adjuster as your advocate, who will serve as the liaison between you and your insurance company. Your company should deal directly with the adjuster, and the adjuster will make sure that your company fully understands all aspects of the damage.  

Negotiating the Settlement

Don’t be surprised if your insurance company offers a low initial estimate. Their goal is to settle your claim quickly and cheaply.

Your public adjuster will discuss this offer and can negotiate a higher claim. This might mean pointing out information that your insurance provider neglected to address the cost of making you whole. This process can take time, but you’ll have the assistance of your adjuster who will continue to negotiate with your insurance company on your behalf.

Settlement for Your Property Loss Claim

Finally, you’ll receive payment for the damage to your property. The public adjuster will help you with this process by making sure you receive the funds you deserve.

For example, your insurance provider might include your mortgage company on the check they issue. Your adjuster can help you clear this company from the check so that funds are available to you, allowing you to cover the cost of repair or replacement.

Peace of Mind

On your own, a property loss claim can be frustrating, and time-consuming. Your insurance company promises to provide for your needs, but after a fire or flood, you may discover they’re more concerned about their bottom line.

With an insurance adjuster at your side, you’ll be able to weather this storm from beginning to end, knowing that your needs are properly acknowledged, and your property will be cared for. 

In other words, the property claims process can give you peace of mind when an adjuster serves as your advocate and guide. In the end, disaster is unexpected, but the right guidance can help you stand on stable ground once again.

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