Everywhere across the country, we are seeing natural disaster after natural disaster. Floods in the forest and the south, and the storm season are coming soon. After each of these events, many of us get to deal with our insurance company and, in detail, adjusted a claim.
Here are the top three things that your claim adjustment says to you and what they really think.
1. After fire
You are emptied due to massive fire in your way. You make holes in a hotel and wait to find out the fate of your house. It is a matter of regret that much is left out after extinguishing the flames. Your first conversation with the claims of your insurance company can go in this way:
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You: I have lost everything! I can’t believe it. I need you guys to get busy in reconstruction of my house like tomorrow. Just make me wire my policy limits for everything. Seriously, the fire is out, let’s roll the ball so that I can take back my house, before all the rest start hiring good contractors.
Claim adjuster: I am so sorry for your loss. Let’s start the process, collect the information we need, you get some money immediately so that you are as relaxed as possible and proceed from there.
What claim adjuster is thinking: Poor fan. everything is gone. But start rebuilding your home tomorrow? Man, the place is still burning, and all the debris is about to take 12 to 18 months before removing and the toxins are gone. I can’t just write a check for everything – policy has requirements for things that both of us have to do. Take a breath, you are alive and have a policy – you are much better than something. And don’t worry, there will be many contractors fighting to get money from us to rebuild your place.
2. After a storm
Toto, I feel that we are no longer in Kansas. A tornado destroyed your house. It is going to take a lot of money to make it again.
You: Can you believe this season? For example, from anywhere, this tornado went inside and originally separated half of my house. I barely survived. Have you seen the house? I don’t want to stay there anymore. Just write me a check and take me home. you can have it.
Claim adjuster: I am so sorry for your loss. It should be very emotional that the bus was barely survived by the storm. Let’s see what options are available for you under your insurance policy.
What claim adjuster is thinking: No, you cannot have money from your policy to rebuild your house and just hand your home to us. Do you have a loan at that house, remember? I don’t think your bank will be very happy to see you walking away from it and your insurance takes income.
3. After flood
It is putting cats and dogs. Not only a lot of rain, but the kind of rain you cannot see, the day after the day. Then the water makes its way to its driveway and starts coming under your front door. Soon, your house is not under water, but water is in your house, from below.
You: My house is effectively a large swimming pool. The water level has become wet on top of the couch, above the bed, and even in some shelves of my wall. I would not be surprised to see the shooting of water from the chimney. I am glad that I have an insurance policy to pay for all this.
Claim adjuster: It looks absolutely terrible. I am doing this, so I am sorry to hear this. Unfortunately, flood damage is specially excluded from your home owner insurance policy. Policy list in Section I – exclusion, “We do not directly or indirectly insure the damage due to flood, surface water, waves, water backup, water below the surface.” This type of coverage will be covered by flood insurance policy, which is available from FEMA or insurance agent or broker. Do you want information for small business administration to get loans to fix your damage?
What claim adjuster is thinking: So apparently you have never read your insurance policy. The first section under exclusion is literally “flood” label. Is there And I am not irritated on me – I did not write the policy.
So what can we learn from these exchanges (or not)?
- Keep your expectations realistic when it comes what your insurance company can do and how soon it can do.
- Understand the limits of what your insurance does. Insurance policies are compensatory policies, which means they are designed to bring you back the way you were before harm. If this means that you have a house, then the reconstruction of that house. They are not designed to cache you.
- Read your insurance policy so that you know what is covered and not covered.
- Do not take out your frustrations on the adjuster of claims – they are just doing their work.
Want to know more about insurance? visit Karlsusman.com,
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This article presents the ideas of our contributing advisor, not by Kiplinger editorial staff. You can check advisory records with Second Or with Finara,
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