Get a Policy Review: Protect Yourself from Carrier Tactics

How Do You Know You’re Properly Covered in the Event of a Disaster? Answer— You Don’t!

We’ve all got a million and one things on our plate, and who has the time to sit down and dissect an insurance policy, right? Here’s the cold, hard truth— neglecting that policy review could be the decision that haunts you when disaster strikes. 

A storm rolls in, lightning cracks, thunder roars, and suddenly your business is flooded, your investments ruined. You’re knee-deep in water scrambling to salvage what you can, all while the clock ticks down. 

What if you had taken the time to get that policy review?

What if you had known the ins and outs of your coverage like the back of your hand?

Maybe, just maybe, you could have avoided the nightmare altogether. 

Insurance Carriers Are Pros at Taking Your Money

Here’s the kicker— insurance policies are notorious for their labyrinthine language and sneaky loopholes. That “Act of God” clause? It might not cover as much as you think. And those exclusions buried in the fine print? They could leave you high and dry when you need help the most.

Not all insurance claims have a happy ending, but it is possible to increase the likelihood of a happy ending relatively easily. Enters the Public Adjuster: the unsung heroes of the insurance world. Public adjusters, like those at Premier Claims, are armed with the knowledge and expertise to navigate the murky waters of your policy. 

Still not convinced? Consider this— The time you invest in that policy review could be the difference between a smooth claims process and a never-ending nightmare. Not to mention that a policy review will only take seconds of your time. Picture yourself sailing through the storm, confident and prepared, while others flounder in the chaos. 

Intrigued? Concerned? Good, it’s time to take action. 

Face the beast head-on, arm yourself with knowledge, and take control of your claim. Because when disaster strikes you’ll want to be the one calling the shots, not the other way around.

Reach out to Premier Claims today and let us guide you through the murky waters of insurance policies. Your future self will thank you – trust us, we’ve seen it all. 

Remember, ignorance may be bliss, but it’s a one-way ticket to disaster. Allow our team of experts to evaluate your insurance policy and ensure your property is properly protected. By submitting your policy, you’ll gain valuable insight on how to optimize your coverage for maximum benefit. Don’t let it cost you everything. Submit your policy for review today: https://premier-claims.com/policy-review/

Learn to Love Your Insurance Policy

Valentine’s Day is more than just a celebration of romantic relationships. It’s an opportunity to nurture a relationship with something equally important—your insurance policy. While insurance might not be the most exciting topic, understanding and appreciating your policy can bring peace of mind and financial security. This Valentine’s Day, learn to love your insurance policy and feel confident in the coverage you’ve chosen. 

Strengthen Your Relationship

Know What You’re Covered For

The first step in loving your insurance policy is understanding what it covers. Take the time to thoroughly read through your policy documents and/or discuss them with a licensed professional. Pay close attention to key details such as property damage coverage, liability coverage, and any additional endorsements or riders that may be relevant to your property use. Understanding your coverage limits and exclusions can help you avoid surprises in the event of a claim. 

Assess Your Risks

Every property faces unique risks, whether it’s due to the nature of the industry, the location of the property, or other factors. Conduct a risk assessment to identify potential threats to your commercial or residential property, such as fire, theft, natural disasters, or liability claims. Once you understand your risks, you can work with your insurance carrier to tailor your policy to provide adequate protection against those specific threats. 

Review Your Policy Regularly

Just like relationships, insurance policies require regular attention and maintenance. Review your policy annually or whenever there are significant changes to your business or property. This could include renovations or expansions, changes in inventory or equipment, or updates to local building codes and regulations. Keeping your policy up-to-date allows you to have the right coverage vs. right amount of coverage.

Ask Questions

Don’t hesitate to ask for assistance when navigating your insurance policy. While your insurance carrier can offer valuable insights, sometimes you may require additional support to fully grasp the complexities of your coverage. That’s where a team like Premier Claims can step in. With our team of licensed public adjusters and legal professionals, we’re dedicated to helping policyholders fully understand their policy. Whether you’re unsure about a particular clause in your policy, need clarification on a claim process, or simply want experienced guidance, our team is here to provide personalized support.  To have your policy thoroughly reviewed by our team of licensed professionals, submit your policy here: https://premier-claims.com/policy-review/

Consider Additional Coverage

Depending on your needs, you may want to consider additional coverage options beyond the basic property and liability insurance. Evaluating your specific risks and considering additional coverage can provide added peace of mind. For example, as hail season quickly approaches, it’s important that your insurance policy protects your property against any damage that hail may bring. Learn more about hail damage coverage in our blog: https://premier-claims.com/blog/commercial-property-hail-damage-coverage/

Document & Maintain Records

In the event of a claim, having thorough documentation can make the process smoother and help you fight to receive fair compensation. Keep detailed records of your property, including photos, receipts, and inventory lists. Maintain copies of insurance policy documents, correspondence with your insurance carrier, and any relevant contracts or agreements. Being organized and prepared can help expedite the claims process and minimize possible disruptions to your business operations. 

Stay Informed

Insurance regulations and industry standards can change over time, so it’s important to stay informed about developments that may affect your coverage. Being proactive can help you make informed decisions about your insurance policy and allow you to be adequately protected. We recommend that you subscribe to updates from your insurance carrier and participate in industry associations, so that you can stay informed of relevant news and developments in your area. We believe that knowledge is not just power but a path to peace of mind. Stay connected, stay informed, and let our team be a resource for you. For ongoing industry updates, subscribe to our blog: https://premier-claims.com/resources/blog/

By following these tips, you can develop a deeper understanding and appreciation for your insurance policy. Ultimately, giving you the confidence to face whatever challenges are thrown your way. This Valentine’s Day, take a moment to show some love to your insurance policy. It’s a relationship worth nurturing for the security and protection of your property. 

Mitigation After a Hurricane

The destruction after a hurricane can be immense and overwhelming. And despite the aftermath of a hurricane, the last thing you want is for your property to suffer more damage. Your insurance policy will also mandate for you to mitigate further damages. We’ll discuss your duty as a policyholder to mitigate further damages, options for mitigation, and how mitigation factors into your insurance claim. 

Policyholder Responsibilities to Mitigate Further Damages

In your insurance policy, there will be language that requires a policyholder to properly mitigate their property from further damages following a loss. In other words, a policyholder is responsible for protecting their property in the interim until repairs can be completed. The language will vary in each policy, but the overall objective is the same: Protect property from further damage.

Within your policy, you can find the language for mitigation in the “Duties After Loss or Damage” section. Below are two examples of policy language.

More in-depth language example:

(4) Take all the reasonable steps to protect the Covered Property from further damage, and keep a record of your expenses necessary to protect the Covered Property, for consideration in the settlement of the claim. This will not increase the Limit of Insurance. However, we will not pay for any subsequent loss or damage resulting from a cause of loss that is not a Covered Cause of Loss. Also, if feasible, set the damage property aside and in the best possible order for examination.

More simple language example:

(b) Protect the property from further damage. If necessary for property protection, make reasonable repairs and keep a record of all repair costs;

Storm damaged house with protective tarp

Options for Mitigating Against Further Damage

We recommend after a hurricane to seek the advice and assistance of a professional where the damages can be quite extensive and overwhelming. A professional will inspect your damages, provide an estimate and perform the mitigation for you. In severe damage cases, a speciality mitigation company may be required to tend to more complex mitigation requirements.

Common mitigation applications often include:

    • Tarping roofs to avoid leaks or intrusion of other debris
    • Securing damaged areas where leaks could occur
    • Covering broken windows or compromised opening
    • Removing surrounding debris.

As a requirement per your insurance policy, mitigation can be costly. However, you do not want to skimp on mitigation. By barely or not protecting against further damage, you are at risk of the spread of mold or mildew, and additional structural damage that your insurance carrier may not cover. We advise having your insurance policy review prior to a hurricane so you are informed on the level of mitigation you are required to complete. You can have a free policy reviewed by our legal experts here!

How Mitigation Factors into Your Insurance Claim

Per your insurance policy, your insurance carrier expects you to take all reasonable measures to protect your damaged property from further damages. In most cases, mitigation costs are recoverable under your policy.

However, utilizing expensive techniques, such as shrink wrapping that is a temporary secure tarp for the roof, can be more difficult to recover the costs from the insurance carrier. During a hurricane disaster, suitable alternatives, supplies, and mitigation companies could be sparse for an extended period of time. In these incidents, it’s critical to communicate with your insurance carrier in these situations to ensure you’re not paying out of pocket for mitigation.

Failure to mitigate can jeopardize your claim settlement by reducing the final settlement or a claim denial. Just as documenting your property prior to the storm and immediately following is important, documentation during mitigation is just as important. During mitigation, we advise:

  • Taking photos from various angles of all steps taken for mitigation
  • Taking videos where necessary
  • Maintain copies of communication with vendors, receipts and materials

Acting fast following a hurricane to mitigate from further damage is essential. During your preparation for the hurricane, we recommend having a list of mitigation companies that you can quickly deploy to your property to inspect following the storm. Mitigating your property following the storm will mitigate you from a claim denial from your insurance carrier.