Monday, May 4, 2015 / by Extreme Home Selling Team
You’re enjoying a great weekend when a random storm blows in. A tree falls over and into your guest bath! Your first call will be your Insurance Agent who sends an Adjuster out to assess the damage and helps you file the claim. You get a check and everything is hunky-dorey, right? WRONG!
Many Adjusters account for the surface damage, not the hidden damage that’s revealed once the contractor starts demolition. Sometimes even what’s visible isn’t put into their estimate so you the Home Owner need to be on your toes and at their shoulder as they survey the damage. You can get several opinions on the REPAIRS just like you would if this wasn't an accident! Ask several professional contractors (licensed, bonded & insured and who work with insurance companies!) to come out to quote the job with the claim in hand. You can compare "apples to apples" with their estimates if you insist that they are itemized by task and/or subcontractor.
If there is a lot of money at stake and your insurance carrier is stubborn about paying, you may want to hire a private adjuster who knows the ropes and works for policy holders specifically. They understand how to navigate the reams of paper in a policy and negotiate successfully with the carrier to get the highest settlement in your favor. This service also comes with a percent of the settlement so be sure to ask for and agree upon the terms upfront and in writing!
Never take for granted that something is included if it is not itemized. You may believe that the damaged outlet covers will be replaced to match existing. Make certain the contract states that. Look at the number of coats of finish paint to be applied. Is it one or two? Painters apply two typically and will charge you for the second coat above the claim. In the case of the bath, coverage may replace the tub but does it also replace the tile surround?
Another perk of certain policies is the Loss of Use clause which is of great help especially if you cannot live in the home at all during reconstruction. Make certain that your policy covers you for a comparable rate to the cost of housing in your area and not the local “no Tell Motel” in the seedy part of town or again, you’ll be paying most of that bill and staying with the city’s (ahem) more colorful population! Take advantage of the opportunity to ‘hotel it’ for a while and enjoy a mini-vacation so your return will feel like a true Welcome Home event!
When you find an exceptional Insurance Carrier and Agent, share the word with us. We’d like to let the Sarasota-Bradenton-Venice-North Port area know about them also!
To buy or sell a home in a great, worry-free transaction, give us a call today!
CHIP DEACON, Broker-Associate
Cell: 941-302-8717 Off: 941-357-4031
The Extreme Home Selling Team
Keller Williams On The Water Sarasota
22 Links Avenue; Sarasota, FL 34234
Want to know more about the Sarasota Area? Check out these Resources:
1. Demographics http://www.sarasotaeconomy.com/
2. VISIT Sarasota http://www.visitsarasota.org
3. Economic Development http://www.edcsarasotacounty.com/
1. ABC-7 WWSB http://www.mysuncoast.com/
2. SRQ Magazine http://srqmagazine.com/
3. The Observer-Sarasota http://www.yourobserver.com/
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