Archive for Insurance
Public Adjuster | Musick Loss Management | 773.529.9500
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Public Adjusters | Warning, The Insurance Company’s Adjuster is NOT on your side!
Posted by: | CommentsAttention all insured property owners… The insurance company’s adjuster can not simultaneously represent your interests and that of the company. It is law that you the property owner are entitled to independent representation by a public adjuster when you file your claim! If you have questions or concerns about getting a fair settlement, call Musick Loss Management today! 773.529.9500
Public Adjuster | Fire Diaries #1 | Thank you Musick Loss Management!
Posted by: | CommentsIt was Tuesday, July 20th and a hot sunny one at that. I still remember that I was in a particularly happy mood and had on a pink v-neck t-shirt and dark blue jeans to emphasize my perky spirits. Little did I know that on this day my home would be fully engulfed in flames and one of the worst disasters of my life was about to occur. Read More→
Public Adjusters | Reconstruction | Musick Loss Management
Posted by: | CommentsPublic Adjuster | Chicago’s Musick Loss Management | Tips for Insured Property Owners
Posted by: | CommentsTips for Insured Property Owners #1 from Musick Loss Management, Chicago’s #1 Public Adjustment and Restoration Firm.
The business of public adjusting is authorized and regulated by each state’s department of insurance, whose function is to protect consumers by providing assistance and information and regulating the insurance industry. As a policyholder, you are entitled to hire an adjuster to work on your behalf and present your case to your insurance company. It would be a serious violation of your rights for an insurance company to discriminate against you in any way for exercising a right granted to you by state legislature. If you have questions or need an advocate on your side, call 773.529.9500
The sooner a public adjuster is brought in to help with a claim, the easier the process will ensue. Insurance carriers will frequently take a certain stance during the claims process that they will often not try to take when a public adjuster is involved in the claim.
Also, the average person generally does not have the required knowledge to decide whether their insurance company’s settlement offer is favorable and on target.
Many times people who manage their own claims will accept meager settlements from their insurance company, often fifty percent less than their claim should be settled for. People will also routinely accept inferior settlement offers to bring closure to the situation since they are already experiencing anxiety and pressure from misfortune.
Will I Receive a Bigger Insurance Settlement if I Use a Public Adjuster?
Posted by: | CommentsPeople who enlist the help of a public claims adjuster will consistently receive a higher settlement from their insurance company than those who do not. Why? For starters, the more detailed and complete your claim is, the larger the settlement will be. Public claims adjusters have the knowledge of the insurance industry needed to assist you with your claim and are expertly trained in assessing, estimating and appraising what you have lost due to damage. Studies have determined that most lists compiled by the insured are very incomplete but a public adjuster will inspect your property, help you summarize on a room-by-room basis what was in your home or business and establish an accurate inventory of what was destroyed so that you can claim a higher settlement from your insurance company than you would otherwise.
Guidelines for Insurance Property Loss Claims
- <!–[if !supportLists]–> <!–[endif]–>The first step is to protect your property from further damage. This may mean shutting off water flow or covering your roof with plastic tarps or tenting the property to safeguard the building from bad weather. If your property loss is covered, your insurer will most likely include the cost of any sensible emergency precautions you need to protect your property but don’t make any permanent repairs until after the property has been inspected.
- <!–[if !supportLists]–> <!–[endif]–>Before your insurance company sends out an adjuster, you can begin by photographing, videotaping and taking stock of your damage. Document the date that all photos and video were taken. Also document the damage in as much as detail as you can and do not try to speculate about the value of specific items.
- <!–[if !supportLists]–> <!–[endif]–>Do not dispose of any damaged items or property until after the claim is settled. Remember that all damaged goods are your property and no one, not even your insurance company, has the right to remove or discard it. It is recommended that all money and expensive jewelry be removed from the property if it will be vacant for any period of time.
- <!–[if !supportLists]–> <!–[endif]–>Its normal procedure for many insurance companies to have a contractor or cleaning company sent out to assist you. If you need help protecting your property from any further damage, it is recommended that you allow nothing more to be done than that. The use of these services are just recommendations by your insurance company and you are not required to use them.
- At this point you can decide whether you would like your insurance company to put your claim together for you or if you would like to utilize a public adjuster, who will properly present and advocate your claim to your insurance carrier on your behalf to make certain that you get back the biggest settlement you can from your insurer.
Your Insurer May Be Deceiving You | Get the Most From Your Property Insurance Claim
Posted by: | CommentsWhen faced with a disaster, homeowners depend on their insurer to shield them from financial failure. Yet insurance carriers often pay only 30–60 percent of what it costs to rebuild a home that has been destroyed. In fact, insurance agents will often persuade homeowners to believe that they are fully covered in the event of property loss or damage but state insurance departments receive thousands of complaints stating just the opposite.
Over the past several years, insurers have reduced payouts for claims, raised premiums and even withdrawn from areas along the Gulf Coast that are prone to bad storms so that they can lower their overhead costs and increase income. By disbursing less money to victims of tragedy, insurance companies have profited in record numbers, even after Hurricane Katrina, the worst natural disaster to hit the US.
By hiring a public claims adjuster when disaster strikes your home or business, you are ensuring that someone is working on your behalf so that you can receive the claims settlement you are entitled to.
Public adjusters work only for policyholders and understand the ins and outs of your insurance policy. They can present your claim to your insurance company with a strategy that maximizes your settlement, allowing you to get back to your normal day-to-day routine.
What Musick Loss Management Provides You with During the Insurance Claims Process
Posted by: | CommentsPerform a thorough assessment of your insurance policy.
Aid you in following your policy’s stipulations, such as being mindful of time limitations and mitigating further damage.
Strategize a claim management plan that increases your financial recovery.
Administer an extensive evaluation of your property loss by meticulously researching, detailing and supporting all aspects of your claim, including damage, contents and extra living expense claims.
Arrange and provide your insurer with an itemized claim package.
Advocate on your behalf at all meetings and inspections with your insurance company.
Obtain the best possible settlement for you in the shortest amount of time.
Communicate with you continuously throughout the entire claims process.
Finding a Reputable Public Claims Adjuster
Contact your accountant, lawyer, neighbors and friends to find out if they have ever used a public adjuster or if they know someone who has. Your insurance company is also a good place to inquire about hiring a reputable public adjuster. It may sound like a conflict of interest but your agent may know of an adjuster with a good standing in the industry.
Many states regulate and license public adjusters and you can check if yours comes highly regarded by calling your state insurance office. Also be sure to check with the Better Business Bureau to look into any complaints that may have been filed against the adjuster.
Get in touch with the National Association of Public Insurance Adjusters, a trade organization that sustains a searchable database with adjusters with two or more years of experience. The organization also provides a certification program that requires adjusters with five or more years of experience in the field to pass a rigorous exam.
Once you have been referred to a few adjusters, inquire about their rates, efficiency, references and credentials. Contact the adjusters’ references and question their clients about how well the adjuster performed their duties.
