When you have a catastrophe occur and you need to file a claim with your insurance company, it is a stressful time. If the incident happened to your business, what will happen to your income while it is shut down? If it happened to your home, where will you live? Overall, how long will it take to restore normalcy, and how much will it cost?
When you have fire damage your property, there are a number of concerns that may not occur to you right away, such as:
1. Did the damage spread beyond the visible areas?
2. Was more damage caused than your property is worth (or more than your insurance covers)?
3. Will your insurance pay for replacing the items within your home?
4. How much will it all cost?
For these reasons and many more, it is important to have a Fire Insurance Adjustor on your side when you are dealing with your insurance company. In this article, we will discuss how a fire insurance adjuster can help you.
Unseen Damage Might Not Be Documented
Your insurance company will send an adjuster to survey the damage. Never forget that this is an individual who works for the insurance company and has their interests, not yours, at the forefront of their consideration.
Damage from a fire isn’t limited to what was destroyed by the flames. When a fire is put out, there is water damage from extinguishing the fire, and smoke and soot can ruin other items in your home. If you have an HVAC system, smoke and soot can spread to entirely unrelated areas of your home through the vents and ducts.
Just because a fire took place in your kitchen doesn’t mean that there is no damage to your living room. Carpets, curtains, drywall, and furniture can all be affected by smoke and soot. Thus, one of the considerations of the repair cost is treating this secondary damage from a fire.
Recovering From a Total Loss
A “total loss” in a property claim is rather like a total loss on an automobile in the way that either there was too much damage to repair or the total cost of the repair was more than the property was worth.
Your insurance company might pay to repair or rebuild your home, or they may pay out a lump sum in your total loss settlement. One of the things a Fire Insurance Adjuster will take into account when preparing your claim is “loss of use,” or how much it is costing you to make accommodations when your home or business is unusable.
Will The Insurance Company Pays for Replacing the Items in Your Home?
Yes, and no. If there was a total loss to the point where there is nothing left but the foundation, then hopefully you have documented all the items of significant value in your home. Having receipts for large purchases and appraisals for items such as jewelry and art help in submitting your claim, as does having regular videos of the interior of your home showing your possessions.
There is also a difference between replacement value and actual cash value. Most insurance companies will default to actual cash value, which means that they will pay for the cost of your items, minus depreciation. If you bought an expensive TV for a few thousand dollars three years ago, they may only pay you a few hundred dollars.
Replacement value hinges upon you replacing the items you have lost. You buy a new TV, submit the receipts to insurance, and they reimburse you. Fire Insurance Adjusters will help you with this and other parts of your insurance claim.
How Much Will Recovery From Fire Damage Cost?
There is no one solution to the cost of damage from a fire because each one is different. One of the primary things Fire Insurance Adjusters will do is help with the estimates of the damage and how much it will cost to repair so that you get the most out of your plan.
Including cleanup, disposal, and repairs and restoration from water, smoke, and soot damage, the bill adds up quickly. A small fire in a small home may cause $20,000-$50,000 worth of damage. A fire that burns a few rooms in a slightly larger home may be between $30,000-$70,000. A large fire that consumes the majority of a small home, or several rooms in a large house is typically over $75,000 and a total loss is dependent on the amount of coverage in the home insurance policy.
Having a Fire Insurance Adjuster on your side throughout the claim process will maximize your benefit after a catastrophic loss.
Look to Continental Public Adjusters for help
Continental Public Adjusters is proud to serve the entire state of Florida in handling property claims, and they have the experience to help you get the most out of your policy.
If you have a new property claim, or even worse if your claim is denied, delayed, or underpaid, you need an experienced public adjuster.
Continental Public Adjusters will do five key things for you:
1. Advocate: Our sole responsibility is to make sure you receive the maximum recovery for your loss.
2. Review: A comprehensive investigation helps us understand each specific type of loss. With our experts and consultants, we begin to determine the overall value of your property loss.
3. Estimate: Using the latest cost estimating software to prepare supporting documentation and provide it to your carrier.
4. Adjust: We will adjust your claim and negotiate with your insurance company adjuster to reach a settlement meeting your approval, in your best interest.
5. Maximize: We can foresee issues and obstacles in the claims process with the experience that comes from settling thousands of claims, and will work to reach your maximum benefit.
Start with a free consultation with one of our team members to learn about your options. Continental Public Adjusters, Inc. has 38 years of experience successfully settling thousands of claims related to both personal and commercial property in the state of Florida.