Navigating Fire Damage: Proactive Protection

Proactive Protection

In the face of unpredictable fire events, it is vital for property owners to safeguard not only their tangible assets but their financial health from fire damage. By being proactive, one can minimize the devastation that fires can bring, ensuring quicker recovery and smoother claim processes

Prevention

Incorporate fire-resistant building materials, maintain a defensible space around the property, and ensure regular checks on fire alarms and sprinkler systems. Frayed wires, faulty or damaged appliances, and neglected or out-of-date electrical systems can all potentially spark a serious fire. We recommend having regularly scheduled maintenance on appliances and electrical systems, so you can help reduce your risk of fire.

Preparedness

Equip your property with easily accessible fire safety tools like extinguishers and fire blankets. Establish and practice emergency evacuation plans with family members or employees. Safeguard irreplaceable items and crucial documents by storing them in fireproof safes.

Awareness

Different regions and property types face varying fire threats. For instance, a residential home in a wooded area might be at risk of wildfires, while a commercial kitchen could be more susceptible to grease fires. It’s essential to stay updated on fire alerts and warnings specific to your area. Additionally, familiarize yourself with the common causes of fires pertinent to your property type and location.

Policy Review & Understanding

Knowledge is your first line of defense, especially when it comes to understanding your policy term and coverage for fire damage. It is important to be aware of the financial liability you would shoulder, such as the deductibles and policy limits in the event of a total loss. Verifying coverage with a policy review for additional aspects of your asset or business, such as reimbursement for business interruption, will help reduce the financial strain post-fire loss. In essence, a clear grasp of your policy can be the difference between swift recovery versus a prolonged financial hardship.

Documentation

Fire damage affects not only building structures but also their contents. Documenting items with photos, purchase dates, and receipts is essential. However, many individuals lack the time for detailed record-keeping. A practical solution is to record a walk-through video, capturing every area and item in the property. Store this video in a cloud-based storage system to ensure its accessibility and safety from potential damage.

Engage a Public Adjuster

We recommend engaging a licensed and reputable public adjuster before any potential loss. Our team offers an objective review of your insurance policy terms, highlighting if your coverage matches your assets and risks. Our expertise aids in creating a precise inventory of contents, capturing every item’s value. Furthermore, we provide a comprehensive inspection that will identify potential vulnerabilities in your property. Bringing a public adjuster onboard early positions you for a smoother claim process, should a disaster occur.

What is a public adjuster?

Public adjusters are trained and licensed insurance adjusters with a fiduciary responsibility to work exclusively for the policyholder to ensure they receive the fair and reasonable settlement rightfully owed to them from the insurance carrier. 

While the public adjusting industry began as negotiators to increase final settlements, more experienced firms like Premier Claims have evolved. Being well-versed in the intricacies and emotional challenges of major losses, our team strives to alleviate the stress and time commitment of claims. With us, your focus remains on personal recovery and peace of mind.

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Debunking Public Adjuster Myths: Delaying a Claim

At Premier Claims, we believe in empowering policyholders with knowledge. One way to do this is by debunking the public adjuster myths that surround the insurance industry. One common misconception we encounter is the belief that public adjusters delay claims, leading people to believe that hiring a public adjuster will negatively impact their claim.

The Truth Behind the Myth

Insurance claims inherently involve a series of steps, documentation, assessments, and negotiations. The complexities of the claim itself and the policies and procedures of the insurance carrier primarily dictate the duration of this process however, our team of public adjusters at Premier Claims possess a deep understanding of these procedures. Their expertise streamlines the entire process, ensuring they effectively navigate each step, avoiding delays.

Understanding the Public Adjuster’s Role

A public adjuster’s fundamental responsibility is to advocate for you, the policyholder. Their expertise lies in comprehending the intricate language of insurance policies, assessing the damage thoroughly, and negotiating with the insurance carrier on your behalf. However, contrary to the myth, their involvement expedites the process by:

Accurate Assessment

Public adjusters meticulously evaluate the damage, aiming to account for all aspects of the claim. Their precise documentation prevents back-and-forth with the insurance company, saving time. Additionally, this detailed approach strengthens the foundation for a smooth negotiation process.

Negotiation Expertise

Public adjusters are skilled negotiators. They engage with the insurance carrier, presenting a well-documented claim and advocating for a fair settlement promptly. Furthermore, their experience often leads to swifter resolutions.

Policy Knowledge

Understanding the intricacies of insurance policies is crucial. Therefore, public adjusters actively interpret policy language, aiming to maximize every entitlement and coverage benefit, thus preventing unnecessary delays in processing or delaying a claim due to misunderstandings.

It’s important to debunk the misconception that public adjusters delay claims, ensuring accurate information prevails in the industry. Gain valuable insights from Dana Langfeldt, a seasoned Public Adjuster at Premier Claims, as she dives deeper into the crucial support public adjusters provide to policyholders. Understanding that the public adjuster doesn’t negatively impact the claims processing timeline is crucial. Instead, they actively expedite the process, fighting on your behalf, to try to secure a rightful settlement.

 

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What is a Public Adjuster?

When faced with significant damage to your property, navigating the complex terrain of insurance claims can be overwhelming. That’s where a public adjuster comes into play. What exactly is the role of a public adjuster, and how can they assist you during this stressful time?

Decoding a Public Adjuster’s Role in Your Claim

A public adjuster is an insurance expert you can hire to manage your claim for you. Unlike insurance company adjusters who represent the insurer’s interests, they work exclusively for you. Their primary goal is to ensure you receive every dollar you’re entitled to under your policy.

Role of a Public Adjuster

Damage Assessment

A public adjuster will inspect and assess the damage to your property. Furthermore, they will evaluate the scope of repairs and estimate the replacement value for those repairs.

Policy Understanding

They will help you understand your insurance policy, decipher the legal jargon, and ensure you are aware of what is covered.

Negotiation

Public adjusters communicate with your insurance carrier on your behalf, attempting to negotiate a settlement that accurately reflects the damage and coverage.

Documentation

They document everything you’ve lost and double-check the damage to your property, potentially leading to a larger insurance settlement.

When Should You Consider Hiring a Public Adjuster?

Large or Severe Claims

Public adjusters are particularly valuable for significant claims involving high-value or extensive damage to your property, such as after a fire or a natural disaster.

Claim Disputes

If you are dissatisfied with your insurance carrier’s settlement offer or feel that the claim settlement is too low, they can help dispute the settlement and advocate for a higher payout.

Complex Claims

When you face complex claims involving multiple policies or intricate questions about coverage, a public adjuster’s expertise can be invaluable.

Benefits

Fair Settlements

Public adjusters are skilled negotiators, fighting for your right to a fair and accurate settlement. This can be hard for a policyholder to obtain on their own.

Time Savings

They handle all the paperwork and communication with your insurance carrier, saving your significant time and stress.

Policy Understanding

Additionally, public adjusters help you comprehend your policy details and navigate the often confusing claims process, ensuring you make informed decisions throughout the entire journey.

Reliability

Get Referrals

Seek recommendations from friends, family, or online reviews to find reputable public adjusters in your area.

Check Licenses

Ensure the adjuster holds a license in your state. Most state insurance departments provide online license verification tools.

Research

Look for adjusters affiliated with professional associations like the National Association of Public Insurance Adjusters, ensuring adherence to industry standards and ethics.

Read Contracts Carefully

Understand the fees, services, and terms, outlined in the contract before hiring an adjuster.

Remember, hiring a public adjuster can level the playing field between you and your insurance carrier, ensuring you receive the compensation you deserve after a disaster. Furthermore, by entrusting the complexities of your insurance claim to a skilled professional, you can focus on rebuilding and regaining peace of mind while your public adjuster advocates for your rightful settlement.

 

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Minimizing Financial Risk: The Seven Types of Vandalism

Vandalism – a term that, unfortunately, is all too familiar to commercial property owners. Acts of intentional damage can bring about significant financial consequences. But understanding the different forms of vandalism can go a long way in minimizing their impact. From a sociological perspective, vandalism isn’t a monolithic concept. It assumes various forms, each presenting its unique challenges. Understanding the motives behind these destructive acts, as outlined by renowned sociologist Stanley Cohen, can guide you in better protecting your property and minimizing your financial risk. Let’s explore these seven types of vandalism and see how commercial property owners can stay prepared:

1. Acquisitive Vandalism: A Threat to Your Valuables

Acquisitive vandalism, characterized by the act of destruction to acquire goods or money, poses a significant threat to businesses. For instance, a burglar might break a window to steal merchandise. As a property owner, installing secure locks, surveillance cameras, and alarm systems can deter such actions. Insurance policies covering theft are critical in this scenario.

2. Tactical Vandalism: Unwanted Attention

Tactical vandalism is about getting noticed. Protestors might deface property to draw attention to their cause. While it’s tough to predict such occurrences, maintaining a neutral stance in controversial matters can keep your property out of the firing line. Vandalism coverage in your property insurance policy can provide the needed safety net.

3. Ideological Vandalism: Making a Statement

This form of vandalism arises when political, religious, or social ideologies come about. Insurance that covers acts of vandalism can safeguard your property against the financial impact of such acts.

4. Vindictive Vandalism: When Personal Becomes Professional

Vindictive vandalism stems from personal vendetta and spite, and can unexpectedly land at your doorstep. Making adequate security measures and a robust insurance policy are essential.

5. Play Vandalism: Destructive Fun

Play vandalism is destruction for fun, often by kids or teenagers. For instance, ensuring your property is well-lit and investing in high-quality security systems can make it less attractive to these mischievous thrill-seekers. Furthermore, a comprehensive insurance policy will help cover the costs of any damages.

6. Malicious Vandalism: The Love for Chaos

Malicious vandalism lacks concrete motive beyond the desire to create chaos. An individual who lights a fire in a public park with no particular motive other than to watch things burn would be engaging in malicious vandalism. Enhanced security, vigilance, and insurance coverage are necessary to shield your business from such random acts.

7. Epidemic Vandalism: The Domino Effect

Epidemic vandalism involves large-scale destruction triggered by a specific event like a sports victory or political unrest. Here, the best defense lies in a good offense. Proactive security measures, along with an insurance policy that covers riot damage, are essential.

Understanding the seven types of vandalism not only provides insight into the potential risks but also guides you in selecting the right insurance coverage to protect your business assets. This knowledge empowers commercial property owners to minimize their financial risk and safeguard their businesses against unforeseen damages. Remember, the cost of an insurance policy is insignificant compared to the financial burden of an unexpected vandalism event.

Protect your business, prepare for the future, and ensure peace of mind by recognizing and preparing for these seven faces of vandalism.

 

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Insurance Carrier Offers Spot Repairs for Condominium: Premier Claims Settled at $2.3M

Legends of St. John Condos

Augustine, Florida
Hail Damage

Prior to our involvement, the insurance carrier was only willing to cover the bare minimum for patchwork repairs on the roof. We conducted a thorough inspection and presented a compelling case to the insurer, complete with evidence to support a more comprehensive settlement. This included code upgrades, material matching, overhead & profit, and residential supervision costs. Initially, the insurance carrier offered a more reasonable estimate of $1,820,000, but later withdrew it, attempting to reduce the settlement. Undeterred, we fortified our claim with exhaustive documentation and expert legal counsel, ultimately securing a final settlement of $2,275,000.

Insurance Carrier Offer: Minimum Patch/ Repairs

Premier Claims Settlement: $2,275,000

 

 

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Farmers Insurance No Longer Serving Florida Policyholders

As hurricane-prone regions brace themselves for another potentially intense season, recent news about insurance carriers making policy changes has raised concerns among policyholders. In a surprising move, Farmers Insurance is no longer serving Florida policyholders, leaving thousands of residents in search of new coverage options. This decision serves as a stark reminder of the importance of reviewing your insurance policy before hurricane season arrives.

“Florida requires affected policyholders to receive a 120-day notice that their policies aren’t being renewed,” Ramishah Maruf, CNN. According to the state’s regulations, this provision ensures that homeowners have ample time to prepare and seek alternative coverage options before their existing policies expire. The non-renewals will play out over several months.

 

The Business Decision Behind Farmers Insurance’s Exit:

Farmers Insurance explained its decision to exit the Florida market as a necessary step to manage its risk exposure in the hurricane-prone state. While “Farmers is the 11th company to pull out of Florida since 2019. Farmers’ decision affects more than 100,000 customers,” Dave Elias, NBC. Individuals utilizing Farmers Insurance’s owned subsidiaries, such as Foremost Signature and Bristol West, will not experience any disruption in coverage. It is crucial for policyholders affected policyholders by the termination to review notifications and explore replacement coverage options.

Insurance Challenges in Florida: 

Farmers Insurance’s departure highlights the challenges faced by insurance companies operating in Florida. Over the past 18 months, numerous insurers have imposed moratoriums on new policies, while others have voluntarily withdrawn from the market or faced insolvency. The situation is exacerbated by a legal system that some insurers claim encourages litigation abuse and excessive claims, leading to financial strain within the industry.

The Need for Legal Reforms:

Recognizing the need for change, the insurance industry successfully advocated for reforms aimed at curbing litigation abuse. Despite these efforts, insurers’ outlook remains uncertain due to the surge in lawsuits filed before the new laws kicked in. Nearly 300,000 lawsuits have flooded the marketplace, creating an enduring challenge that may force regional insurance companies out of business. While legal reforms have been implemented, market conditions continue to pose a significant challenge.

Florida’s Vulnerability to Hurricane Damage:

Florida’s geographical location and low elevation make it particularly susceptible to hurricane damage. As the Atlantic hurricane season approaches, it is crucial for homeowners to assess their insurance coverage adequately. The National Oceanic and Atmospheric Administration predicts a normal hurricane season this year, but there is still a 30% chance of an above-average season. The devastating impact of hurricanes in recent years, such as Hurricane Ian, which caused $114 billion in damage, serves as a stark reminder of the importance of being prepared.

 

Reviewing your insurance policy before hurricane season is crucial to ensure you have the necessary coverage and avoid potential disruptions. Farmers Insurance’s decision to exit the Florida market is a reminder for property owners to stay vigilant. By staying informed and considering replacement options if needed to protect your property during hurricane season. Remember, being proactive can make all the difference when it comes to safeguarding your property against potential storm-related risks.

In light of Farmers Insurance no longer serving Florida policyholders, Premier Claims understands the concerns and challenges faced by policyholders. With hurricane season approaching, it’s crucial to have the right coverage for your home and belongings. We recommend a third-party expert review of your policy. If you’re a Farmers Insurance policyholder, explore new coverage options well before your policy expiration date.

 

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Louisiana New Law: Allows for Public Adjusters

A new law, signifying a significant development for policyholders in Louisiana, has passed, forbidding property insurance policies from containing provisions that deny an insured individual’s right to hire a public adjuster. Before the introduction of this new law, insurance policies with anti-public adjuster clauses prevented policyholders from hiring a public adjuster. The legislation aims to provide all policyholders and businesses with greater control and expertise in navigating insurance claims. 

On June 12, 2023, Louisiana Governor John Bel Edwards signed into law a bill from Sen. Royce Duplessis, D-New Orleans, and Rep. Ray Garafalo, R-Chalmette, that prohibits insurance carriers from inserting anti-public adjuster clauses into property insurance policies. The new law (SB156) in Louisiana will take effect on August 1, 2023, and allow all policyholders to hire public adjusters.

Benefits for Policyholders:

Removing the anti-public adjuster clauses is a significant win for policyholders in Louisiana. Here are some key benefits that policyholders can expect:

Expertise and Representation: 

Licensed professionals with in-depth knowledge of insurance policies and claims processes, public adjusters actively operate. They can assess the full extent of damages, and strive for fair compensation per the policy.

Time & Stress Reduction: 

Navigating an insurance claim can be a complex and time-consuming process. By engaging a public adjuster, policyholders can offload the burden of handling paperwork, documentation, and negotiations. This allows them to focus on other important aspects of recovery, such as restoring their property or business.

Maximizing Claim Settlements: 

Public adjusters skillfully value losses accurately and ensure fair compensation for policyholders. They can help policyholders avoid potential underpayments or claim denials, leading to maximized settlements.

Rules and Regulations for Public Adjusters in Louisiana:

While the new law in Louisiana enables policyholders to hire public adjusters, it’s important to understand the existing rules and regulations governing their operations. Here are some key points to note:

Licensing:

Public adjusters in Louisiana are required to obtain a license from the Louisiana Department of Insurance (LDI). Additionally, the licensing process involves meeting certain criteria, including background checks and the successful completion of an examination.

Fee Limitations: 

Public adjusters charge fees for their services, typically calculated as a percentage of the insurance claim settlement. In Louisiana, these fees are regulated and should conform to state guidelines. Policyholders should discuss fee arrangements with the public adjuster before signing any contract.

Contractual Agreements: 

Public adjusters must provide written contracts to policyholders, outlining the terms and conditions of their services. The contract must clearly state the fees, scope of work, and any additional expenses that policyholders may incur during the claims process.

Prohibited Activities: 

Public adjusters are prohibited from participating in any deceptive or fraudulent practices. Furthermore, they have a fiduciary responsibility, must act ethically and in the best interests of the policyholders they represent. Violations of these regulations can lead to disciplinary actions by the LDI.

Louisiana’s new law granting policyholders the ability to hire public adjusters is a significant step toward empowering individuals and businesses when dealing with insurance claims. With the expertise and representation provided by public adjusters, policyholders can expect a smoother and more favorable claims experience. By leveraging this new legislation, policyholders can navigate the complexities of the insurance world with confidence, knowing they have dedicated professionals on their side.

Premier Claims Louisiana #765044

 

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Condo Association Restored After Hurricane Ian

Confidential Condo Association

Cape Coral, Florida
Hurricane Ian
September 2022

In the wake of Hurricane Ian, this five-building complex suffered from both roof damage and first-floor flooding. Despite the insurance carrier’s attempts to stall the process by repeatedly reassigning the claim, our team remained steadfast. We put together irrefutable estimates that clearly demonstrated that the policy limits had been met. Taking into account the widespread damage, we guided residents through their individual claims and managed the inspections and repairs for each unit. In the end, we achieved full coverage up to the policy limits for every building in the association and extended free consultation services to residents to aid in their recovery.

Insurance Carrier Offer: N/A

Premier Claims Settlement: $1,077,000

 

 

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Hurricane Post-Recovery

The post-recovery after a hurricane can be a challenging and stressful experience. Understanding damage assessment, contacts, and expectations post-hurricane as a local resident can ease recovery burdens significantly. 

Assessing Hurricane Damage & Mitigation

Prior to the storm, we recommend following a detailed checklist, having your property inspected, and accurately documenting the current condition of the property. (Read Prepare before the storm, Review Your Policy, Tips & Dangers or Mitigation for more information) 

After the storm has passed, your responsibility as a policyholder will be to assess the damages to your property and mitigate further damage. We recommend inspecting the exterior of your property looking for any broken or loose materials. In addition, inspect the interior of your property for water leakage or pooling water. Early connection, detailed documentation of damage, and mitigation strategies are vital for your insurance claim process.

Important Contacts After the Hurricane

In regards to property damage after a hurricane, there is a significant need for mitigation professionals, inspectors, and contractors in the community. Insurance carriers will also experience an increase in call volume and claims coming in from the community. Prior to the storm, we advise having a list of important contact information including your insurance carrier, mitigation companies, contractors, government authorities, medical assistance during a disaster,  and your local Red Cross. 

Our team is readily available during a hurricane. In the aftermath of the storm, we take over the communication, scheduling, and coordination with your insurance carrier, inspectors, mitigation companies, and contractors. We take the burden of handling the devastating damage from the hurricane so you can have a full focus on your family, health & safety following the storm. 

What to Expect as a Resident

As a resident, you can expect the recovery process to take time. The immediate aftermath of a hurricane can be chaotic and challenging, often requiring a great deal of patience and persistence. Communities will come together to overcome the struggles of power outages, limited access to food and water, as well as the extensive damage to homes, businesses, and natural resources. 

Keep informed about the latest updates and instructions from location authorities to help you navigate the recovery process. The days and weeks following a hurricane may result in delays of power recovery and availability of essential services. It’s important to be prepared to live without essential services for a period of time, and to come together as a community to support one another as you navigate the recovery from the hurricane’s impact.

 

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