CLAIMS PROCESS

Some key elements a property owner should answer in advance of initiating a claim with the insurance company would be:

• Does the amount of damage exceed the deductible for the given peril?
• Is the loss caused by a hurricane which is subject to a larger deductible?
• Is the claim being initiated within the stipulated time period of the policy?
• Does the property owner have sufficient documentation or evidence of damage to support the claim?

If the answer is yes, then the property owner should move forward with the claim. The process of filing the claim starts with the property owner or their representative contacting the insurance company. The insurance company will immediately assign a claim number to the loss. Next, the insurance company will send an insurance company adjuster to the property to inspect the damage and prepare an estimate of loss. Preferred Public Adjusters always advises the property owner to allow the insurance company the opportunity to properly settle the claim without representation. If the property owner is satisfied with the insurance company settlement and has been sufficiently paid to restore the property to pre-loss condition, then the claim process would end with the insurance company meeting its contractual obligations of the policy. If the insurance company denies the claim or attempts to pay the claim for an amount less than the property owner believes it should be, Preferred Public Adjusters should be contacted to review the claim.

If Preferred Public Adjusters is retained, the following steps would be taken to settle the claim:

• Document damage and obtain proper estimates to restore property to pre-loss condition.
• Review policy and insure that the property owner is meeting all post loss obligations including a proof of loss.
• Request a second inspection with the insurance company with a Preferred Public Adjuster representative present at this inspection.
• In most cases, the claim would be settled and the owner would receive proper compensation to fix the damage. In the event the claim is not settled to the satisfaction of the property owner, Preferred Public Adjusters would review the options available to the property owner. These options would be dictated within the language of the insurance policy.