Tornadoes. Hurricanes. Wildfires. Over the past decade, insurance companies have paid more than $450 billion in property damages to policyholders. But now, some insurers are looking for ways to limit their losses by denying claims and sticking homeowners with the bill.
Today's tips conclude simple and valuable steps you can take to help make sure you get paid when filing a property claim.
Consider hiring a public adjuster: If the claim is large, you might want to hire a public adjuster.
Public adjusters work for policyholders, not the insurance company. Typically, they are veterans of the insurance industry or they worked as contractors or engineers. In most cases, they are paid with a percentage of the claim, usually 5% to 15%. They can prepare objective estimates, describe the extent of the losses to the insurance adjuster and help you withstand pressure from insurers to settle. Often, policyholders accept low-ball offers from insurers because they don't know what they're entitled to, don't realize how much repairs cost or they're just worn down.
If all else fails, get help. If your claim is turned down, you can lodge a complaint with your state regulator. Or hire an attorney to take a look at the denial letter. And if you succeed in proving your claim, it doesn't have to cost you too much money.
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