Real Estate Management Property Damage Claims
When property you own or manage experiences property damage from a natural or man-made disaster, it means a loss of business, which can be substantial. This is a time to refocus on continuing operations instead of worrying about a complicated insurance claim. Our team of licensed public adjusters lifts the burden of managing insurance claims on your own. We evaluate and document not only the physical damage to your property, but also the income lost from business interruption.
We took the time to do our due diligence and it seemed that the name Adjusters International kept coming up. Although one would like to think that their insurance company would do everything to help, practical business sense suggests that once one has a fire, they move from the asset side of the ledger to the liability side. I felt that our interests would be best served with an advocate on our side. Enter bulldog Drew. You were relentless in your pursuit and prosecution of our claim. It is clear that your knowledge of insurance and your practical experience lend themselves to securing the best settlements for your clients. The team that supported you was exceptional. You were always there with the answers when we needed them. You were our bulldog. In the end, the settlement reached was beyond what we expected.
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1
Your real estate management company just suffered serious damage and you are wondering what to do next.
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2
You call your insurance company and wait for an adjuster to come out, hoping they will have your best interests at heart.
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3
You move from the asset side of your insurance company's ledger to the liability side.
We Can Help
Knowing everything you possibly can about the "fine print" of your insurance policy before you have any substantive dialogue with your insurer is an absolute necessity. Know what you are covered for and how to claim it. What you say to your insurance company's adjuster and how you say it can make a dramatic difference in how much you get paid. The more you know, the better the results.
Real Estate Management Factors To Consider
Be sure to understand each of the following factors before engaging with the insurance company. Knowledge is the key to a successful claim outcome.
- What is my broker's/agent’s role?
- Does the adjuster work for us or the insurance company? Why they can't work for both. Conflict.
- Can I do the repairs myself?
- Is the insurance company using an independent building consultant to prepare a bid? Who are these consultants? Who are they working for? Do they only work for insurance companies?
- Can I collect code coverage allowances if I build elsewhere?
- Does the insurance company pay for professionals necessary to evaluate my claim? Are they working for me or them?
- Does my risk manager have the requisite skill sets to negotiate a large property claim?
- How quickly can I get started rebuilding?
- Can a contractor negotiate my claim? Why it's a bad idea.
- How does my policy address increased costs due to new codes? If my coverage is limited, what can I do about it?
- Does my policy allow green building upgrades?
- What is the difference between a schedule of values and a schedule of limits?
- Why is my loss of rents claim more than just submitting lease agreements?
- Will the insurance company pay for a construction manager?
- Warranties and Protective Safeguard requirements. What do they mean? Can I still collect if I am not in full compliance?
- Is there coinsurance in my policy? What does it mean?
- How is actual cash value determined? Why should I care?
- Do I have to replace on the same site? Can I buy or build elsewhere?
- Can I compensate employees who help with cleaning or restoration?
- Replacement properties. Lease purchase strategy. Is it good for me?
- Replacing my building versus cashing out. What are the benefits? The pitfalls?
- Should I have concerns as to how my insurer deals with pollutants - hazardous materials - lead & asbestos?
- Is it always beneficial for my building/property to be considered a “total loss?” If not, why not?
- How do I deal with lead & asbestos? What if my coverage is limited?
The Difference Public Adjusters Make
We work exclusively for YOU, not the insurance company. Our insurance professionals have managed and negotiated thousands of claims for nearly every type of natural and man-made disaster. Local in our approach, we have over forty offices across the U.S. and Canada, and an unmatched network of expert resources to efficiently mobilize and be at your side.