Disasters can affect not just your surroundings but your life as well. If it’s a natural disaster, the damage can be to such an extreme extent that it might even take many years to get things back to normal. The worst part is that there won’t be any considerable help coming your way, and you’ll most probably left on your own. In that case, your insurance can save not just you but your whole family as well.
It can help you rebuild your life from the ground up. However, that would only be possible if your insurance gets approved, which will be the biggest task in your hand. With the help of an able licensed insurance adjuster, you will be able to get the amount you deserve.
In this article, you’ll learn about how these insurance adjusters can be your aid in times of disaster. So, let’s begin by first understanding the types of damages in natural disasters!
Different variety of damages in disasters
There are many natural disasters like tornadoes and wildfires, which can ruin homes and even different types of properties. These types of damages can include minimal issues to the structure of the home or repairs which can even break the bank. It’s important to know about the damages that you’ll face when a natural disaster is happening. The damage to the roof, water damage and structural damage are some of the damages that you might face.
Filing for the insurance claims
Did you know the process of filing for insurance claims can be very challenging and difficult as well? In fact, it’s not uncommon to make many mistakes which can elongate the time of the claims process. Let’s say you’re suffering from many losses because of natural disasters. In that case, you must contact your insurance provider as soon as you can. The insurance provider will ask for all the details related to the damages that you’ve had and even ask for supporting evidence like pics or videos. You must provide the information in bulk if you want to speed up the claim process by quite a margin.
Insurance adjusters
The role of an insurance adjuster is the most important in the natural disasters. They hold the responsibility of checking the damages and even settling the claims in the fairest manner, and that too, in time. Once your claim is approved by the insurance agency, they will send an insurance adjuster to check the damages in person. They’ll also check out the damages to the property, review the insurance policy details, and know the true value of the claim. These adjusters are trained to know about the whole process of how to settle insurance claims.
Timely and fair settlements
Insurance adjusters hold the responsibility of providing you with a timely and fair settlement. They do so because homeowners and business owners need that crucial amount to deal with the losses suffered because of natural disasters. They determine the true value as per the extent of the damages, do fair negotiations with the insurance company, and do their work diligently to get you the maximum amount. But it’s crucial to know that the insurance companies are doing everything to make a profit. These companies are a business at the end of the day. So, their adjusters might try to lowball around the claim settlement amount that you’re asking for.
So, you need to be mindful and choose the best-licensed insurance adjuster in your city.
Factors that influence the amount of settlement that you can get:-
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Replacement cost
Did you know the replacement cost policies provide you with the total amount that you will need to replace a damaged item with that of a similar quality? It doesn’t deduct for depreciation. The final amount policies will pay for what you need to replace, and that to by leaving the depreciation aside.
Let’s say, there was a tornado which damaged a part of your home. With the help of a replacement cost policy, the insurance company will provide you with an amount which will be enough to fix it. In case, you had an actual cash value policy, the company is supposed to pay only a part of the total cost of repairing the home. It’s because the current value of the damaged area is not that much as compared to what it was when it was newly made with the best materials available.
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Extended cost
If your home is damaged so that it can’t be repaired, a typical homeowners policy will provide you with enough money up to the policy’s limits. If the value of the insurance policy is keeping up with the increased building costs, a similar kind of dwelling will be built by investing an amount that is within the policy limits.
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Stated amount
Let’s say you own a mobile home, then you must have a stated amount policy. In this policy, you can get the maximum amount if your home gets destroyed, but that amount will be as per the terms on which the policy was issued. If you decide to opt for the stated amount, you can update your policy on an annual basis to ensure that the amount will cover the total cost of replacing the mobile home. You can check with the local mobile home dealers to know how much the current mobile homes sell for.
Wrapping Up
Natural disasters are not just deadly but have several repercussions that last long after the disaster has happened. They can overwhelm you, along with stressing your whole family for a long duration. However, the shining light is that you have a licensed insurance adjuster to your rescue, as they can ease your burden whether you’re grappling with your home or property damage.
These professionals are quite skilled and even understand the complexities of filing for insurance claims. They will help you get a timely settlement, and that too, in the fairest manner. So, if you’re facing property or home damage because of a disaster, contact a licensed insurance adjuster.
