Insurance Umpire | Property insurance is a necessity for Florida homeowners. It is not required by state law. But homes are typically the largest investment families will ever make. It is completely prudent to protect such an investment with adequate insurance coverage. Florida law does require that property insurance policies include coverage for damage caused from hurricanes. Florida homeowners who install certain wind-resistant features on their homes can even enjoy discounts on their insurance premiums.
How do you know if you are being treated fairly by your insurance company in the event you must file a damage claim? Florida is situated in a prime location for hurricanes and other strong storms. You invest in insurance in the belief that your home and property will be fully restored after suffering damage from a storm. But how can you be sure?
The Damage Claims Process
Homeowners who maintain property insurance on their home may file a claim in the event their home suffers damage from a storm or other occurrence. The claim details the damaging event, dates, times, and a basic description of the damages. Most homeowners are not builders and cannot accurately assess the amount or level of damage done to their home.
Insurance companies employ adjusters whose primary role is to investigate damage claims filed with the company. Your insurance company will respond to your claim by assigning an adjuster to assess the damage and calculate the amount of money required to complete repairs. This seems like a fair and straightforward process. Often it is not.
Insurance companies are for-profit businesses and their primary reason for existence is not for your profit. They earn a profit by investing premium monies paid to them over the long term and by paying out the least amount of damage claims as possible. This means that they will typically do everything possible to reduce the amount they will pay for your damage claim.
Insurance Appraisers and Umpires
Homeowners do have a means of recourse if they believe they are not being treated fairly by their insurance company. They have the right to contact an independent insurance appraiser to make an assessment of the damages to their home and calculate an estimated amount to cover repairs. This report can then be compared with the insurance company’s report to make sure the homeowner will receive adequate compensation for their losses.
A property insurance umpire is an independent third party that can be called in to help settle a dispute between the insurance company’s proposed settlement and the amount that the independent appraiser has determined is needed. The services of these damage assessment experts are invaluable in settling claims disputes.
If your Florida home sustains damage from a hurricane or other type of storm or event, Beryl Project Engineering can provide professional, unbiased independent insurance appraiser and umpire services to help make sure you are treated fairly. Call us at 813-616-3301 or send us a message online for more information about our WIND®Certified Appraisal and Umpire services.