When your business or commercial real estate property has seen damage due to perils covered by your insurance policy, your insurance agency will provide an independent adjuster from a claim service to investigate and further handle your claim. Texas commercial property insurance policies can cover everything from basic perils like fires and storms to specialty perils like floods or insects and vermin, so it’s important to understand everything to obtain the funds you need to replace your structure or belongings. Here are the basics you need to know about claim adjustment.
An adjuster will begin by reading over and analyzing your specific policy. They need to know what property is covered, what’s excluded and the conditions that are accepted. They will also confirm that your policy is current before proceeding.
After analyzing your policy, the adjuster moves on to read the loss notice which includes several pieces of important information. The loss notice will list the date of damage, types of loss and coverage, the name and address of the insured, their agent, and place of loss, as well as anything that needs special attention. All of this will assist them in getting started with helping you through your loss.
Once the independent claim service adjuster understands the foundation of the loss, they can move on to meeting with you and other witnesses. They should let you know what proof the agency requires in order to fulfill your claim and obtain a recorded statement from all witnesses to paint a full picture of the damage.
When a claim adjustment officer has finished getting the needed recorded statements, it’s time to provide them with your proof of loss, which is normally due within 60 days from the date of damage. This is a sworn statement of the date, time and cause of your loss, and providing false information on this written record can result in your being penalized for perjury or insurance fraud. The proof of loss is obtained under oath and can lead to up to 5 years in prison if you knowingly mislead the insurance company. It is always best to be honest.
With the proof of loss, you’ll need to turn in other relevant documents to your adjuster such as leases, ledgers, last physical inventory or any other document that’s relative to the investigation. The adjuster will then establish the amount of the claim by looking at the scope of the loss and hiring contractors to confirm it. Photographs will be taken and pertinent authorities will be contacted to gain in-depth information on the cause of loss.
Independent claim adjusters are the go-between for you and your insurance company. These professional adjusters will expedite the claims handling process – ensuring you and your insurance agency are satisfied with the outcome. Give them your damage information to the best of your knowledge, and they’ll do their best to help you get claim funds that you deserve.
If your residential or commercial property loss claims are piling up, call the experts of Action Claim Service today! We professionally handle claims for all of our clients – Fast. Friendly… RIght the first time!
Take Action – Call: (888) 691-1095 | Email: firstname.lastname@example.org