Many comments in this thread illustrate the need for education when it comes to insurance and catastrophic damage. Nothing negative intended. Someone or some company seeking your business doesn't make them a crook. Free markets and open competition is the root of our economic system. The company in question has made you aware there may be damage to your home. That's nothing but good. Be smart and explore the possibility. After all, a home is often an individual's largest investment.
1. If there has been damage in your area, your policy likely requires you to file a claim and furthermore take measures to limit any more damage from occurring.
2. There is no penalty for filing a claim in suspect of catastrophic damage and you cannot be singled out for a rate increase - period, regardless if the insurance company pays for damages or not.
3. When you file a claim the insurance company will send out THEIR adjuster. Key word here being "THEIR". The adjuster works for the insurance company and is there representing it's interest, not yours.
4. Find a qualified company experienced in dealing with insurance companies and claims. This company will represent your interests when the adjuster arrives. When YOUR rep surveys the damage with THEIR rep the results are always better for you.
5. Insurance claims are not a profit taking event! The only reason to obtain multiple estimates is to either save the insurance company money (no benefit for you), or to flirt with insurance fraud by attempting to profit from the claim. You have the right to hire the “Contractor of your Choiceâ€. Pricing has nothing to do with it. That issue will be between the insurance carrier and your contractor. You obtained your insurance policy to protect your property interests and agreed at that time to pay a portion for those repairs, known as your deductible. The amount of the deductible you agreed to is directly relevant to premium costs.
6. Find professional help BEFORE the adjuster inspects your property. Many professional storm restoration companies will inspect your property and advise you of whether or not you should pursue claim restoration. They will meet with the adjuster on your behalf, assure payment for repair of all damages suffered your property, and work with you to reduce or eliminate the amount you are obligated to pay through your deductible. When done properly, your hardest decision should be picking out colors for your new components.
Like the insurance company, storm restoration companies perform these tasks daily. Most property owners will go through this process once or twice in a lifetime. Unless you want the headaches of another occupation, put this in the hands of professionals. Interview candidates - pick someone you feel comfortable with - keep control of the money coming from the insurance company - and never pay out all the money until all the work is completed. Claims under 10k are typically paid 50% on contract and 50% upon completion. Claims larger than 10k are typically paid 1/3 upon contract, 1/3 at mid completion, and 1/3 when completed.
I have over 20 years experience in homeowner services including licensing as an Insurance Agent, Insurance Adjuster, and General Contractor specializing in catastrophic restoration. Please pass these undeniable truths about catastrophic claims and restoration on to those you care about. Knowledge is Power!!
