Insurance policies are akin to a complex piece of machinery. Every element of the policy and all of the contracts therein work as a system; when one part of the machine falls out of place or breaks, the entire system falls to pieces.
PHILADELPHIA, PA, March 26, 2022 /24-7PressRelease/ — Insurance policies are akin to a complex piece of machinery. Every element of the policy and all of the contracts therein work as a system; when one part of the machine falls out of place or breaks, the entire system falls to pieces or simply stops working altogether. With homeowners insurance, this is especially true, since many houses are different from one another and each one requires different rules and regulations.
That’s why you should probably read this guide before buying any homeowners insurance or filing any claims on your homeowner’s insurance policy. We’re going to give you some advice to bring you to the level you need to be at before you make a serious investment.
When Filing a Claim, Use an Independent Public Adjuster
Emphasis on “public” and “independent.” You want a claims adjuster that is working for you and not the insurance company. The company’s claims adjuster may seem to give great customer service and be extremely friendly, but they have a purpose: To save money on claims compensation for the insurance company.
Always Look For an Independent Insurance Broker
Again, the word to pay attention to is “independent.” Independent insurance brokers will offer you policies from a broad range of companies, so that you get the best policy possible. They are working for you and will do whatever it takes to keep you satisfied. Insurance brokers are contracted by some insurance companies to bring them clientele.
Don’t Be Afraid to Compete
When you’re buying insurance, never be afraid to shop. You will definitely receive an initial quote from an insurance company. Regardless of the result, don’t be afraid to look for a better number. If they really want your business, they will work within your budget, and it’s your right as a buyer to go out and find the best, most competitive rates and highest-quality policies possible. Don’t let a multi-million dollar insurance company stifle that right. Don’t be afraid to fight for your claim!
When it Comes to Claims, Size Does Matter
To insurance companies at least. You may not feel that way, but they do not treat all claims equally. In fact, a recent study by Consumer Reports found that 18% of policyholders making claims exceeding $30,000 were dissatisfied with their compensation, while only seven percent of policyholders making claims under $30,000 were disappointed.
In a nutshell, what this means is that when it claims, it pours. When you have a larger claim, expect larger headaches. When you have a smaller claim, it’s important to be well-informed, but the chances of an insurance company trying to pull one over on you are significantly less.
Learn and Know Your Insurance Policy
Namely, we’re talking about deductibles. For those of you who are new to this, let us tell you. “Deductibles” refer to the amount of money you must pay when you process any claim related to your insurance policy. For example, you may get a window broken during mischief night. The window is worth $2,000 but you pay a deductible of $500 to your insurance company, and they arrange for it to be fixed, working with you. These deductibles can vary greatly depending on the type and severity of damage.
We hope that this clears up some of the confusion around buying homeowners insurance and processing claims on your homeowners’ insurance policy.
AAA Public Adjusters, LLC is the nation’s leading property loss consulting firm headquartered in Philadelphia, PA with additional offices throughout Pennsylvania, New Jersey, Delaware and Maryland. Started over 25 years ago, our public adjusters do more than just prepare & file insurance claims. We leverage our adjusters’ extensive property and insurance knowledge to safeguard our clients’ interests (policyholders, including home and business owners) under their insurance policies and increase their recovery from losses.
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