When disaster strikes, such as the devastating impact of Hurricane Ian, businesses are often left grappling with significant damage including property, inventory, and business interruption. For many, these damages can lead to crippling financial burdens, especially if they are not properly compensated by their insurance providers. In such situations, the role of a licensed professional public insurance adjuster can be pivotal. 

Hurricane Irma: A Case in Point 

In the aftermath of Hurricane Irma, countless commercial properties suffered immense wind, roof, and water damage. Buildings were damaged and business personal property (BPP) was lost or damaged. The insurance companies, facing numerous claims, were often quick to offer settlements to affected parties. However, these initial offers were, in many instances, far below the true value of the damage incurred. 

Here's where Public Adjuster, Nick Chase made all the difference for his restauranter client, CRW Ventures, LLC. in Anna Maria Island, accomplishing the following:

• Acquired a Certified Copy of the Policy including all Forms and Endorsements.
• Attained an Appraisal Report evidencing the pre-loss condition before Hurricane Irma and substantiation that property was insured to value.
• Conducted a detailed damage assessment - After Hurricane Irma, the complexity of damage, especially to commercial properties, was vast. Public adjusters, with their detailed knowledge of the insurance industry and damage assessment, can identify and quantify damages that a layperson might overlook. Mr. Chase also included "hard bids" provided by contractors to substantiate the claim, prepared detailed itemization of business personal property items, and took numerous photographs documenting the loss.
• Facilitated and joined onsite inspections with the insurance company and vendors sent out by the insurance company, working with the parties to substantiate the actual damages.     
• Negotiated a fair claim settlement resulting in $207,500 in new money for the Business Personal Property (BPP) claim.  
• Negotiated a fair settlement resulting in $429,970 in new money for the building claim.

As a result of having an experienced public adjuster spend countless hours advocating for the client, the client received a net claim settlement totaling $643,303 a 2115.2% increase above the insurance company’s initial settlement offer. 

While it is tempting to accept the first offer from an insurance company, especially during the chaotic aftermath of a disaster, it’s crucial to ensure that the compensation fairly reflects the true extent of the damage and empowers the policyholder to properly repair their property. Hiring a licensed public insurance adjuster can make the difference between a settlement that barely scratches the surface and one that genuinely aids in a business's recovery. Hurricane Irma brought devastation, but it also spotlighted the undeniable value of property insurance public adjusters. In the face of future challenges, they remain an indispensable ally for commercial property owners.