Landlord and Business Insurance Claim Advice and Help
Post Landlord and Business Insurance Claim Advice and Help Question (below)
On the other hand, have the answers handy (including personal consultation with Ron Cercone) with an insurance claim advice eBook from UClaim.com. You will find eBooks for your particular claim type, whether it’s a business or a landlord rental property claim or a “deluxe” version eBook which includes other eBooks. View the business claim UClaim.com eBook entitled “BUSINESS INSURANCE CLAIM ADVICE AND HELP – ALL ASPECTS“ description and table of contents or the landlord rental property claim UClaim.com eBook entitled “LANDLORD RENTAL PROPERTY INSURANCE CLAIM ADVICE AND HELP“ description and table of contents. There is also a free 2nd eBook offer now at UClaim.com.
Here are a few words of general advice:
Making a landlord or business insurance claim is not a science, it’s an art. It’s like a board game. Timing and patience are crucial. Sometimes there are several different moves you can make, and it’s impossible to know which one is the best. So you make a “judgment call.” Don’t beat yourself up or waste too much time deciding. Once you make a decision, don’t look back. Think about your next move. The game strategy can change daily as you exchange information with the insurance claims adjuster.
Generally speaking, the game requires that you gather information in three areas: your insurance policy, building construction and insurance claim law. You can improve your settlement using just one of these items alone or a combination of two or all three. You should pursue all three in the order listed until you are satisfied with your overall dollar settlement. You could get nothing more from the insurer using the policy, but find items of construction that were missed or under priced. You may hit dead ends with the policy and the repair estimates, but be able to find some law that required the insurer to pay for an item that was previously denied or under paid.
Keeping a written record is crucial. Keeping your mouth closed and your ears open is crucial. Treat adjusters like little gods especially in the beginning while you build your file. Get everything in writing and fax your letters. Even a hand written note on notebook paper is better than nothing. Now there is a record and the adjuster is legally bound to answer in so many days, such as 14 days, in California. Faxes get more attention than emails, because they make better evidence in court.
If you want to maximize your landlord or business insurance claim and play the game smart, you have to be patient. This game could last for a year or two, so you may as well prepare now and do it correctly. With most business insurance claim policies, you should have coverage for loss of income, extra expenses and loss of rents (landlords). This should be for as long as the claim is being actively negotiated by both sides. Which leads to another important consideration – all policies are over ridden by the laws in your state. So even though your policy may say you have 180 days to claim replacement cost coverage on your contents, for example, the law in your state may say you have one year, or even two years if the claim is disaster related.