Florida is prone to weather extremes. Tropical storms, thunderstorms, and gusty winds are a regular feature in the state, particularly in South Florida. While extreme weather events in Florida pose a grave threat to the safety and wellbeing of its residents, they can, and often do, cause significant damage to homes and commercial buildings, resulting in huge monetary losses for people. In such situations, insurance is the savior that helps home and business owners get back on their feet!
While insurance is a useful tool for reducing risks, it’s no good if you cannot claim it when you need it the most. In case of property damage, be it residential or commercial, the insured needs immediate funds to buy necessities and start repairing the broken-down office or house. However, securing advanced funds from insurance carriers can be tricky. And in the absence of public insurance adjusters, it can prove to be even more difficult.
What is Advance Payment of Claim?
As the name suggests, advance payment is the money provided by the insurance carrier to the policyholder before the final inspection and payment take place. Advance payment is made to provide immediate relief to the policyholder so that their life doesn’t come to a standstill.
Why is Advance Payment Needed?
Hurricanes, floods, and other natural calamities can cause devastating losses to homeowners and businesses. In fact, even a non-weather-related event such as a faulty plumbing system can cause property damage of significant size. In the case of property damage, particularly when the losses are huge, the insured needs some money upfront.
For instance, if your possessions are damaged, you may need some instant money to purchase necessities such as shoes, medicines or groceries. Or if the roof of your house is damaged and rain is pouring in, you may have to go for some temporary repairs that can prevent any further damage. However, most homeowners don’t have enough money lying in their bank accounts that can be used immediately for these tasks.
Similarly, most businessmen would like their business to resume operations as soon as possible but may not have the financial means to start repairs. For this reason, they require financial assistance, which usually comes in the form of advance payment from the insurance company.
How to Secure Advance Funds?
Although, most insurance companies are willing to give a part of the claim in advance, particularly in those cases where the damages are extensive, and the home or office owner has suffered high losses. However, there are many impediments that one may face while receiving an advance claim.
For instance, there can be a disagreement over the real amount of loss suffered by the property owner. If an insurance carrier fails to investigate a loss in a timely manner, there may be a delay in receiving the claim, which in turn may cause a lot of inconvenience to the insured. This is where the services offered by public insurance adjusters can prove to be very useful.
A public insurance adjuster will work with you to assess the damage to your property and help you document your advance claim and submit a report along with the proof of loss, if required, to the insurance carrier.
Apart from securing advanced funds for you, public health adjusters can help you in a number of other ways, such as giving you advice about your situation, taking care of all the paperwork, and completing the whole process quickly and efficiently. Call Alpha Public Insurance Adjusters at (888) 442-5742 for all your damage insurance claim requirements in South Florida.