This question was asked of us the other day and since it is rarely encountered in the everyday world of property insurance adjusting, I wanted to share it given our experience with “the option to repair tactic” that we’ve seen used by the insurance carriers. First, a little background on this controversial clause found in…
Throughout my career, I have always been amazed about the fact that financial institutions like mortgage companies, banks and credit unions, all who have a stakeholder’s interest in a property, (either through a mortgage or some type of financial interest or obligation) never seem to question a claim payment made by an insurance company following…
It’s been an eventful year for public adjusters and the insurance claims industry. So I want to share my 2014 News Year’s Wish List for the property insurance industry. I wish Congress would fix the Biggert-Waters 2012 National Flood Insurance Reform Act. This extremely ill-conceived act of Congress is causing great harm to homeowners all…
Reporter Andrea Senior of WTSP TV in Tampa recently did a story Single Mom Battles Insurance Co. After Fire on one of our clients who had filed a fire claim with St. John’s Insurance. It’s unfortunate the media found this newsworthy, but the facts supporting the case and how this was impacting the family right…
Q. I have a friend that lives in a retirement condominium community. They have a condo policy that covers all 8 buildings in the community. The insurance has paid to replace between 98-160 shingles per roof due to hail damage. The HOA by-laws state that the roof color must be the same on all roofs. After…
While the national press is full of politicians pontificating about what Congress has done (as in “done in”) to tens-of-thousands of property owners in the very ill advised legislation called Biggert-Waters Flood Reform Act (B.W.-12) known as the National Flood Insurance Program Reform Act, not to be outdone, the regulators and political types in Tallahassee…
A policyholder in South Carolina recently wrote us about a fire claim turned nightmare. When notified of a claim, insurance companies will sometimes send out their preferred vendor as a way to provide fast service but also to control costs and prevent the policyholder from hiring their own vendor, since they have contracted reduced rates…
The catastrophic sinkhole that opened up in Dunedin, Florida has brought attention to limits of the new law that was passed in 2011 by the Florida Legislature. This law made it extremely difficult for homeowners to get proper coverage or alternatively pay a hefty price for a very limited sinkhole policy. Many of the changes are not good…
Q. The city where we live experienced a ten inch water main break that flooded our basement with 4 ft. of water. We hired a public adjuster 10 days ago. Now they are backing out saying there are limitations to what they can do. Should we go with the city’s insurance? Should we find out…
Q. Could one choose to have a larger deductible on hurricane insurance? For example; a 20% or 30% deductible on a $100,000 home? What would be the savings as opposed to a 10% deductible? A.I suspect this is one issue that will be on a lot of people’s minds after Super Storm Sandy and the expected…