The Importance of Timing in Insurance Claims After a Natural Disaster
Natural disasters can strike without warning, leaving destruction in their wake. Whether it's a hurricane, flood, wildfire, or earthquake, the aftermath is often chaotic, making the insurance claims process overwhelming. One critical factor that can significantly impact the outcome of these claims is timing. Understanding the importance of timely action and how it affects the claims process can help policyholders recover mor...
Storm Season is Here!
It is storm season here in tornado alley and Oklahoma is no stranger to high winds and torrential rains. Insurance claims for roof damage and possible flooding are most likely to occur during March – June. Here are some tips from your local public adjuster to navigate this season and your potential insurance claim.
How long do insurance claims take?
Insurance claims are not a one size fits all. We wish we could tell you that after you file a claim your insurance company will come out to inspect and issue a payment for all the damages and then your claim will be closed in 3-6 months and you’ll never have to think about it again. The truth is, you could accept that payment and be done with your claim but that could mean leaving money on the table or not having all the repairs done correctly.
The duration of your claim can also depen...
Coverage Outside the Policy Due to Insured’s ‘Reasonable Expectations’
As an adjuster, I don’t talk to judges but I do “measure and document” the valuation of insurance claims and present those claims to insurers. I was recently asked by an attorney to present a claim that demanded coverage be applied outside of the policy.
We see demands all the time to “reform” the policy and sometimes we see insurers rolling over as well and paying those claims as well; although, this is not something that is common.
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The Umpire’s Role in the Resolution of Insurance Valuation Disputes
Insurance policies provide a method of dispute resolution called “appraisal”. When an impasse in the determination of the amount of a loss is reached, one party will demand (or request) appraisal and will name an appraiser. The other party will do so as well. The two appraisers will appoint a third appraiser to serve as an umpire and two of the three can render an award that will bind all parties.
This simple explanation of the appraisal...
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