When property has been damaged due to a storm, strong winds, or a fire, property management companies are left with the burden of pursuing an insurance claim for damages. In many cases, a property management company has contractors in place and ready to work; however, work cannot commence until a settlement has been made with the insurance company. The insurance claims process can be significant, especially if multiple units are damaged; costing the firm valuable time and resources.
Hiring a Public Adjuster can not only help expedite the insurance claim process, it can also ensure the management company is getting the maximum amount they are due for damages. When time is of the essence, hiring a public adjuster can significantly reduce the time a property management company must invest in the claims process.
While the insurance company will send an adjuster in due time, the insurance adjuster is not concerned with your timetable for repairs. This can set back the time period in which repairs on the property can begin. The public adjuster will begin the process by properly assessing the damages sustained to each unit immediately. Once the damage has been assessed, the public adjuster will begin the process of valuing the cost of damages in its entirety.
Once a settlement amount has been determined by the public adjuster, he or she will then begin the task of submitting paperwork to the property management company’s insurance company. Once the proper paperwork has been submitted, the public adjuster will negotiate with the insurance company on the property management company’s behalf. This seriously decreases the amount of time the management company must dedicate to filing paperwork, dealing with the insurance adjuster, and negotiating settlement amounts.
Once the public adjuster and insurance company have come to an agreeable settlement amount, repairs on the property can begin. If for some reason the amount assessed by the adjuster is disputed in court by the insurance company, the public adjuster can testify as an assessment expert on your behalf.
If your company wishes to file an insurance claim for damages please contact the professional public adjusters with the Timmons Consulting Group. We are dedicated to helping our customers collect what they are due when pursuing an insurance settlement.