How Invoking an Appraisal Clause Can Maximize Your Insurance Claim

Invoking an Appraisal Clause

An insurance company will never voluntarily pay more than an amount claimed by a policyholder. So if you suffer a loss, the scope of damages needs to account for everything needed to restore the property to “uniform and consistent” appearance. That’s where licensed public adjusters can really prove their worth—using their extensive knowledge and experience to include claim elements that may not appear obvious to the untrained eye.

According to Insurance Services Office (ISO), water damage claims are the second most frequent insurance claims after wind and hail damage. Most water damage claims this time of year are caused by frozen pipe bursts, and this year’s winter has been especially brutal, affecting areas as far south as Texas and Florida.

Here is a scenario that occurs more often than you might think.

If you’re a property manager, real estate developer, attorney or commercial property owner, dealing with a rental property fire claim can be overwhelming. So can navigating the claims process with your insurance company. But knowing what to do in that process and when will surely help ease some stress. Here are some of the things you need to address as a landlord when there is a rental property fire claim.

When a hailstorm strikes, it can batter roofs, shred screens and siding, and smash windows. Getting fully compensated for even glaring hail damage from your commercial, BOP or homeowners insurance policy is a challenge. Achieving a fair settlement for anything less than glaring damages can be a nightmare.

Major rain events — like the ones that have been plaguing Wisconsin this summer — get insurance companies busy denying homeowners insurance claims based on water-related policy exclusions.

Continuing the discussion about water damage insurance claims, Attorney Edward Beckmann, of Helmuth and Johnson, contributed the following guest posting about his favorite insurance law tongue twister: the anti-concurrent cause clause.

Hurricane Irma will go down as one of the most damaging storms in U.S. history. After leveling several islands in the Northern Caribbean, the powerful storm struck the Florida Keys and Gulf Coast. While significant damage also occurred in other states such as Georgia, South Carolina and Alabama, the lion's hare took place in the Sunshine State.

What started out as a tropical storm in the Atlantic quickly grew into a monstrous category 5 hurricane. With wind speed over 180 mph and powerful storm surges, Hurricane Irma hit Florida Friday, August 25, 2017. Only a few days before Hurricane Irma hit, Hurricane Harvey made landfall on Texas. More than a trillion gallons of rain fell in Harris County, Texas in just four days. Some places have reached more than 50 inches of rain, setting a record for the continental United States. The storm has left tens of thousands of people in shelters, wrecked homes and businesses, and has caused unbelievable flooding. The damage these storms have done is devastating, but there are ways that you can help the victims in these areas.