Commercial property claims are complicated, so insurance companies send their most experienced insurance adjusters. Insurance adjusters know the cost involved in damage repair. While their years of experience should be comforting for you to rebuild your business, insurance adjusters can make things difficult for you.
Insurance adjusters work for the insurance company, not for you. Therefore, they’ll quickly skim through your property and add repair costs of things that are apparent. They won’t dig deep into your property to understand the true cost of repairs because they want to save dollars. As a result, you end up with unfair compensation for your damages.
On the other hand, public adjusters are in your favor. They work for you, not the insurance company. Hence, they’ll carefully evaluate your property and report an honest repair cost.
How Public Adjusters Can Maximize Your Insurance Claim
When commercial property settlement is crucial to restarting your business, you need the best adjusters on your side. A seasoned public adjuster can maximize your commercial claim settlement in several ways.
Taking Charge of The Investigation
Commercial property claim is a complex matter, and an insurance adjuster will make it worse. They’ll ask you questions about the repair cost of the house and how the damage occurred. If you aren’t prepared, you might give answers that jeopardize your claim. On the other hand, a public adjuster conducts an independent investigation of your property, prepares you for your interview with the insurance adjuster, and advises you on how to respond to particular recurring questions that jeopardize your claim.
Minimizing Coverage Issues
When dealing with an insurance investigator, you aren’t aware of coverage issues until you receive a reservation of rights or a declination of coverage. Luckily, public adjusters know about these loopholes insurance agencies use to save their money. As a result, your PA will highlight anything that might lead to coverage issues minimizing your chances of getting a declination letter.
Managing Your Business Interruption Claim
A business interruption claim pays for the expenses, pensions, and extended business income if any uncertainty causes the business functions to pause. They have been subjected to unique settlement problems as they depend on the insurance adjuster’s options driven from the guidelines.
The coverage limit for business interruption claims depends on “the time it would take for a business to start its operations as soon as possible.”
In this situation, your public adjuster will help determine normal expenses and what is meant by “as soon as” possible. For instance, your insurance company might determine your business can start in 2 months because they want to save their money. However, if you have an expert public adjuster on your side, you can easily claim more payments and time from your insurance company.
Assistance in Negotiating Claims
Claim settlement can be tiring and may take longer than you expect. If you keep chasing after your insurance provider, you won’t make much progress because you don’t know how things work. A public adjuster has the same skill set as an insurance adjustor. However, PA’s work on your behalf. Therefore, they’ll negotiate in your favor and help you receive the compensation you deserve. Moreover, public adjusters will also hunt for hidden problems in your property that might lead to future expenses, such as mold infestation and leakage.
Negotiating Actual Cash Value
Some insurance claims are paid in actual cash value meaning your insurance company will minus depreciation. Their method of calculating depreciation depends on several factors. In light of these factors, insurance companies can get away with an unreasonably low claim value. Fortunately, your public adjuster has your back. A public adjuster will dispute unreasonably low payment b proving necessary documents to increase your payment. As a result, your insurance company will have to pay the actual amount you are entitled to. However, the amount you get will be entitled to a depreciation deduction.
Maximize Your Commercial Claim Boca Raton With Alpha Public Insurance Adjustor
Your insurance company will try its best to reduce your claim value because they want to save their money. After all, no one likes losing money; therefore, insurance adjustors will devalue your damages and come up with an unfair insurance claim. However, if you have seasoned public adjusters on your side, you can win the compensation you deserve.
At Alpha Public Insurance, we have some of the best public adjusters with the same skill set as insurance adjusters. We strive to help you win the claim amount you deserve. Call us now by dialing (888) 442 5742 or visit our website for more information.
