What is a Damage Assessment?

Protect your property like a pro!

Hear from our Inspections Manager and Adjusting Manager as they break down the essential steps and purpose of a damage assessment. Discover hidden signs of damage, and important safety measures, and gain the knowledge you need to navigate your claims process with confidence. Don’t leave your property vulnerable- watch now to learn from experts.

 

 

 

 

 

 

To learn more about damage assessments, check out the following blog:

Let’s Talk Damage Assessments

 

 

 

 

 

When Should I Hire a Public Adjuster?

Understanding when to hire a public adjuster is the first strategic move in your claim process. Every decision plays a role in the pursuit of fair compensation for your property damage. We unravel the layers of timing – from the initial moments of property damage to the complexities of denied claims. 

Timely Claims Assistance

Understanding the Role of a Public Adjuster

Before going into the timing aspects, it’s crucial to comprehend the role of a public adjuster. These professionals act on behalf of policyholders, assessing and negotiating insurance claims aiming to earn a fair compensation for property damage. Their experience in the claims process can make a significant difference in the outcome. 

Immediate Action after Damage Occurs

Swift action is vital when property damage occurs. While policyholders might be tempted to start the claims process independently, involving a public adjuster from the start can streamline the process. A public adjuster’s early involvement aims to make a thorough assessment of the damage, setting the stage for a comprehensive and well-documented claim.

Before Filing a Claim

Policyholders often question when is the right time to bring in a public adjuster. Ideally, it’s before filing a claim. By consulting with a public adjuster beforehand, you benefit from their expertise in evaluating policy coverage, estimating potential damages, and strategizing the most effective approach. This proactive step can significantly impact the outcome of your claim. 

Denied or Underpaid Claims

If your insurance claim has been denied or you feel the compensation offered is inadequate, it’s not too late to hire a public adjuster. These professionals excel in reevaluating claims, identifying discrepancies, and negotiating on behalf of policyholders. Their involvement can lead to a fair resolution and the compensation you rightfully deserve. 

Complex Claims and Policy Understanding

Insurance policies can be intricate, and navigating complex claims requires a deep understanding of the language and nuances within. Hiring a public adjuster becomes crucial when faced with intricate claims, aiming for every detail is thoroughly examined, and your interests are protected. 

Premier Claims encourages policyholders to consider engaging a public adjuster early in the process or, if needed, at any point when challenges arise. Our team stands ready to provide the expertise and guidance necessary for the intricacies of the claims journey. Don’t wait; connect with Premier Claims today for a smoother, more informed claims experience.

Unlocking Opportunities with the Premier Purchase Program

The real estate market is full of opportunities, particularly in commercial sectors, yet navigating it can be complex. If you are an investor looking to buy property, or a broker trying to close a deal swiftly on behalf of your client, the Premier Purchase Program offers a unique and advantageous solution.

What is the Premier Purchase Program?

The Premier Purchase Program is a strategy that involves the current property owner filing a claim on the property with their insurance carrier, then at the close of sale, assigning that claim over to the new property owner. This unique approach creates leverage in the transaction and opens up new possibilities for commercial real estate brokers and investors.

Benefits of the Premier Purchase Program

1. Flexibility in Transactions

The program introduces a level of flexibility that benefits both parties in the real estate deal, making transactions smoother and more attractive. Sellers and their asset team can avoid the complexity of a commercial claim, while offering their property at market value with claim opportunity, making the offering more attractive to buyers. On the other hand, investors considering the purchase of commercial property can request an insurance policy from the seller and an inspection from our team. With an inspection and a policy review from our team, we can advise if there is a claim opportunity that could be transferred to the buyer at close.

2. Leverage in Negotiations

Through this innovative method, leverage is created that can assist in selling a property more quickly. This can be especially valuable in competitive markets that are more prone to significant weather events, such as hail or wind, that can cause property damage. For commercial brokers providing an offering memorandum to the market, our team can provide a thorough inspection of the property, a full-review of the insurance policy and summarize a comprehensive damage estimate, the potential claim settlement and our recommendations to be included in the offering for potential buyers.

3. Smooth and Efficient Process

The Premier Purchase Program is distinguished by our team’s comprehensive claim management and guidance through each step. Offering the seller and brokers the ability to enhance the asset’s appeal through asset repair & restoration for the buyer without the significant financial obligation. For the buyer, this means acquiring a property that will be restored that improves the value of the asset. By providing expertise and fostering collaboration, our team simplifies and enhances the complex process of commercial real estate insurance claims for all parties involved prior to listing the asset, while under contract, and after the sale is finalized.

4. Avoiding Hassles with Claims

The Premier Purchase Program streamlines claims by handling all offering, inspection, and documentation needs for the seller and their broker. Our team ensures that every detail is attended to, removing potential obstacles from the process. For buyers, we don’t just facilitate the transaction; we provide expert guidance and meticulous coordination to restore and enhance the property’s value. In essence, we alleviate challenges, turning complexities into smooth, value-added experiences for both parties.

5. Enhanced Value through Claims 

Commercial investors often seek properties that align with their investment goals, focusing on factors such as location, growth potential, return on investment, occupancy rates, and the ability to enhance value through improvements or management strategies. With the Premier Purchase Program, our team provides essential insights and can serve as valuable selling points, adding to the property’s appeal and potentially increasing its market value after closing through restoration and repairs for minimal financial obligations.

6. Increased Opportunities for Investors and Sellers

The program opens up new avenues for both investors and sellers, providing unique ways to approach transactions and realize potential value. The Premier Purchase Program adds an additional parameter to determine an asset’s market value, and provides peace of mind with our expert guidance & representation throughout the process.

Navigating the Premier Purchase Program: Our Process Explained

The Premier Purchase Program is a meticulously designed solution for commercial real estate transactions involving properties with potential storm or other damage. Through this program, Premier Claims expertly navigates all stages of the process, providing full policy review, property inspection, and coordination between sellers and buyers. Our seamless approach contributes to a value-added, transparent, and smooth transition of the asset, all while aligning with the goals of both parties. Here’s how we make it happen:

1. Policy Review and Property Inspection

Premier Claims conducts a comprehensive review of the seller’s insurance policy for the asset and carries out an in-depth inspection to accurately assess the property’s condition.

2. Agreement Execution with Claim Covenant

Once damage is identified and a buyer is secured, claim covenant language is integrated into the purchase agreement, which both parties agree to execute.

3. Filing the Insurance Claim

Premier Claims initiates an insurance claim based on the detailed findings. This critical step is completed before the closing of the asset.

4. Assignment of Claim Benefits

During closing, the seller formally assigns the claim benefits to the buyer, facilitating a seamless transfer of claim benefits.

5. Joint Inspection with Insurance Carrier

Our skilled team collaborates with the seller’s insurance carrier, conducting a joint on-site inspection to present our findings, promoting alignment and validation.

6. Final Settlement and Fund Transfer

Upon reaching a final claim settlement, the funds are released and transferred to the buyer. They then have full discretion to use these funds for the restoration and repair of the asset, enhancing its value and potential.

The Premier Purchase Program is more than just a transaction method; it’s a comprehensive service where our team takes charge of handling every aspect of the process. We work closely with both the seller and the buyer, as well as the real estate agents involved, guiding them through each step.By fostering collaboration and providing expertise at every stage, our team turns the complex process of buying and selling commercial real estate into a smooth and rewarding experience for all parties involved. If you’d like to learn more about this program, we encourage you to reach out to our team today.