American Property Loss Public Adjusters
We are property loss experts on your side to quickly maximize your homeowners insurance claim. American Property Loss Public Adjusters offer public insurance claim adjusting and insurance claims consultation services for homeowners insurance claims and commercial business insurance claims throughout the United States.
Public Adjusters to handle your Property Damage Claim
If you are a property owner suffering through the aftermath of major storm damage such as hurricane damage, tornado damage, fire damage, hail, or some other form of devastation, you shouldn’t have to suffer through a homeowners insurance claim nightmare, too. That’s where hiring American Property Loss Public Adjuster services comes in to make your life easier!
Property Loss Services
The property damage claims process involves extensive paperwork, accounting, legal, construction, insurance jargon plus knowledge of repairing building structures and code compliance. Proving your property damage losses is YOUR job, not the insurance company’s, so make sure that you have a licensed and experienced Public Adjuster on your side because the last thing you need at a difficult time is more aggravation.
We take the burden of filing insurance claims papers off of your shoulders and handle all of the intricacies of a Homeowners Insurance Claim. American Property Loss Public Adjusters treat your insurance claim with extreme care, searching and claiming every possible property loss so that you receive the maximum compensation.
Homeowners Insurance Claim
Commercial Insurance Claim
Our team specializes in managing commercial claims, minimizing downtime, and ensuring you receive the compensation needed to get back to business as usual.
Insurance Claims Consultation
Not sure where to start with your insurance claim? American Property Loss offers expert insurance claims consultation to guide you through the process.
Contact American Property Loss
You wouldn’t think to defend yourself in a courtroom without the benefit of a lawyer, so why wouldn’t you contact expert Public Adjusters to defend your homeowners insurance claim?
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Property Damage Claims
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Fire Damage
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Tornado Damage
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Recent Post
A first look at hurricane season 2012 – WECT TV6-WECT.com:News, weather & sports Wilmington, NC
A first look at hurricane season 2012 – WECT TV6-WECT.com:News, weather & sports Wilmington, NC.
Looks like this year is predicted to be better than average with 10 named storms (12 being normal), 4 hurricanes (6 being normal) and 2 major hurricanes. The chance for one to hit the US is 42%, 10% below average.
If a hurricane does hit, American Property Loss Services will be there to assist homeowners with their storm claims.
We are always standing by to answer questions about any claim. Call toll free at 855 757 2757 for your free claim review.
Your Recovery is Our Success!
Why Would Your Insurance Company Demand an EUO (Examination Under Oath) ?
Your insurance company may demand an EUO (Examination Under Oath) for a number of reasons such as looking for additional information, investigating potential fraud or as an intimidation tactic to potentially scare an insured.
A recent article on claimsjournal.com had the headline “How to Effectively Use Examinations Under Oath.” This article was produced to help educate adjusters when to use this “tool” and how to use it during the claims process. If more and more adjusters move toward using this “tool”, it is an indication of how claims are to be handled in the coming months and years. The days of taking a an insured’s word at face value a going the way of the dinosaurs. With this approach, the insurance company appears to be asking an insured to prove their loss, and then question the manner in in which the insured determined that loss. It would appear that many, many claims are going to wind up in legal action.
One excerpt from the article (link to article below) that jumps out when and how the insurer has to demand an EUO (some states vary slightly, but the process is very similiar).
EUO Demand
“An insurer must provide a demand for an EUO in the form of a written notice in order to schedule one. According to King and Mishall, the letter to the insured should include the following:
- The name of the insured representative who will be examined.
- The time and place of the examination – must be reasonable and convenient.
- A list of documents needed prior to the scheduled examination.
- The name of the individual who will be conducting the examination.
- Reservation of rights in order to designate additional individuals.
Mishall said that it’s important to note that an insurer can schedule more than one EUO with an insured. Examinations can be scheduled with various individuals within an insured company who may have specialized knowledge of the insured business, or multiple examinations may focus on different aspects of a claim.
According to Mishall, those who can be present at an examination include the insured, insured’s attorney, and/or insured’s public adjuster; insurer, adjuster and attorney; court reporter or notary.
Unlike during a deposition, while attorneys may be present, they cannot participate in an EUO. Questions asked must be relevant and material to the loss, Mishall said. Reasonable questions include requesting information about an insured’s finances, possible motives for fraud and claims history.
Because the insurance contract is a voluntary one, an insured cannot plead the Fifth Amendment in refusing to comply with a demand for an EUO. “It is grounds for voiding the policy,” Mishall said.
Although an insured must comply to avoid breaching the policy condition, there are some valid excuses for an insured’s refusal to comply, according to the presenters. These include a defective notice of intent to examine, objection to unreasonable time and place, and denial of the insured’s right to have an attorney present. In addition, if an insurer denies coverage prior to the end of the time period to submit a proof of loss, it excuses the insured from complying with the demand.”
Reading this section of the article, we see the insurance company can bring in anyone in their company that is an “expert” in what they are asking you about (maybe a fire investigator) and they can ask anything they want. You can bring your attorney, but they cannot ask anything or contribute to the answering of questions. And yes, you have to answer the questions. You cannot avoid answering any questions or you have violated the insurance contract and the claim will be denied. Imagine the police asking you questions and not being able to have legal advice or pleading the fifth. This process provides you little protection and lots of risk.
If your claim is being delayed and the adjuster is reminding you or the insurance company’s right to an EUO, you need to start looking for representation that knows this process and how to help protect your position.
For your free claim review, please call us toll free (855) 757 2757.
At American Property Loss Services, Inc. “Your Recovery is Our Success.”
How to Effectively Use Examinations Under Oath. ClaimsJournal.com
Insuring to Replacement Cost
The following article is copied from the Insurance Information Institute’s website. The link to the original article can be found here.
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Background
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Property insurance is designed to cover the costs to rebuild a home, and insurers often require their policyholders to carry sufficient insurance to cover rebuilding costs if major damage occurs. When pricing insurance policies, insurers seek to match insurance to the value of the property in order to charge the right premium for the risk they assume. However, property values change, so it is important to reappraise values every few years. Additionally, when the real estate market is strong, policyholders may think they must match insurance coverage to the inflated home price. Conversely, when the real estate market declines, many people think their insurance should drop to the depressed-market price. The first scenario can mean you are over insured, while the second can leave you underinsured. For that reason, property insurance is priced on the cost to rebuild, not real estate value.
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Why real estate value is irrelevant to insurance prices
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A home’s real estate value includes the price of the land, which should not be factored into your insurance price. A home built on the coast will naturally have a real estate value that is higher than an identical house built inland. However, the cost to rebuild that home in either location may be nearly the same. For that reason, homeowners should work with a building expert or use one of the online building evaluation tools to determine what their home would cost to rebuild today, keeping in mind that new construction must comply with Florida’s latest building codes – a fact that could increase the costs rebuilding a home constructed prior to 2002 when the new building codes were adopted. Rebuilding costs do not fluctuate like housing prices and typically increase annually. If insurance does not cover the value of the home and homeowners carry less than full coverage, they would have to come up with money from their own pocket to rebuild the home.
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Low mortgage, less insurance?
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Mortgage companies require property insurance to protect their investment, and some lenders may not allow homeowners to change the amount of insurance if a home’s value drops. While some lenders may accept insurance on only the mortgage balance, most insurers prefer not to offer policies for partial coverage because it is not possible to make a homeowner whole with partial coverage, and the premium the insurer collects would be far less than the risk the company assumes. Insurance is about protecting your home, which for many people is their biggest personal asset. Talk with your insurer about options for reducing premiums.
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Public adjuster – Wikipedia Definition and Description
Public adjuster – Wikipedia, the free encyclopedia.
A public adjuster is an insurance claims adjuster who is an advocate for the policyholder in appraising and negotiating a first party insurance claim.[1] Aside from attorneys and the broker of record, public adjusters licensed by state departments of insurance are the only type of claims adjuster that can legally represent the rights of an insured during a property insurance claim process. A public adjuster will be most beneficial when it is clear that the insurer will pay the claim and the only issue is the proper identification and valuation of the loss. Most public adjusters charge a percentage of the settlement (with the percentage being lower for larger losses (over $250,000)), with the average charge being between 10% to 15%,[2] although some states cap the fee.[3] Primarily they appraise the damage, prepare an estimate and other claim documentation, read the policy of insurance to determine coverages, and negotiate with the insurance company’s adjuster.[4]
There are three classes of insurance claims adjusters: staff adjusters (employed by an insurance company or self-insured entity), independent adjusters (independent contractors hired by the insurance company) and public adjusters (employed by the policyholder). “Company” or “independent” adjusters can only legally represent the rights of an insurance company.[5]
Outside the United States Adjusters are commonly called (or translated into English as) “insurance loss assessors” (or simply “loss assessors”) and staff adjusters or independent adjusters are called or translated as “insurance loss adjusters” (or simply “loss adjusters”).[6]
Why homeowners should work with their insurance company to determine the correct level of insurance protection
Determining Home Reconstruction Costs Is A Partnership Of Insurer And Homeowner, Says The I.I.I..
The following is an excerpt from an I.I.I, article published late last week on their website. It shows one more reason to have a Licensed Public Adjuster on your side when the time comes to make a claim. If the insurance company is using computer models to determine how much to pay for your loss, and not applying local construction knowledge, you may be in for a great big surprise when their “estimate for repairs” comes back.
At American Property Loss Services, Inc., not only are we licensed as Public Adjuster’s, but we are also Licensed General Contractors with years of building experience to support our opinions.
How many insurance adjusters have ever built anything as a business? And could they have done it for the offer they are making you?
Call (855) 757 – 2757 for a free claims review today!
Costs of residential construction have risen in eight of the past 10 years, rising nationally by 3.3 percent in 2010 and 5.9 percent in 2011, driven by rising prices for raw materials and fuel. Additionally, weak demand over the past several years has slowed down production of building materials, such as gypsum used for drywall, with price increases expected.
Columbia SC firefighters warn of space heater fire danger
The National Fire Protection Association says nearly 500 people died nationwide in fires called by space heaters. Columbia Fire Chief Aubrey Jenkins says if you must have a space heater, don’t leave them on overnight, and keep them away from children and pets. “Normally people have them too close to things that can burn, keep them three feet away,” said Jenkins. “We’ve seen where people have put clothes on top to dry them.”
Chief Jenkins says by following some basic fire safety precautions and making small modifications, you can greatly reduce the risk of home heating fires.
- All heaters need space. Keep things that can burn, such as paper, bedding or furniture, at least 3 feet away from heating equipment.
- Use heating equipment that has the label of a recognized testing laboratory.
- Install stationary space heating equipment, water heaters or central heating equipment according to the local codes and manufacturer’s instruction. Have a qualified professional install the equipment.
- Make sure all fuel-burning equipment is vented to the outside to avoid carbon monoxide (CO) poisoning. CO poisoning can cause illness and even death.
- Install and maintain carbon monoxide alarms inside your home to provide early warning of carbon monoxide.
- Maintain heating equipment and chimneys by having them cleaned and inspected annually by a qualified professional.
- Turn space heaters off when you leave a room or go to sleep.
- Have your chimney or wood stove inspected and cleaned annually by a certified chimney specialist.
- Clear the area around the hearth of debris, decorations, and flammable materials.
- Always use a metal mesh screen with fireplaces. Leave glass doors open while burning a fire.
- Keep air inlets on wood stoves open, and never restrict air supply to fireplaces. Otherwise you may cause creosote buildup that could lead to a chimney fire.
The full article can be found here: Columbia firefighters warn of space heater fire danger – WIS News 10 – Columbia, South Carolina |.
Tax Deductible Losses ?
TAX DEDUCTIBLE LOSSES
Some losses suffered due to a disaster could be tax deductible. Find out whether your situation might qualify in this video.
via III – Tax Deductible Losses.
Many people suffer damages greater than their insurance coverage or recovery. Can your tax return lessen the impact?
For a free claim review, call 855 – 757 – 2757
Private-Sector Insurers To Pay More Than $32 Billion In Claims From Natural Disasters In 2011
Private-Sector Insurers To Pay More Than $32 Billion In Claims From Natural Disasters In 2011
FEDERAL GOVERNMENT SET RECORD FOR DISASTER DECLARATIONS
NEW YORK, December 30, 2011—Insurance companies will pay more than $32 billion in claims to help people rebuild homes and businesses damaged or destroyed by natural disasters in 2011, a record year for federal disaster declarations, according to the Insurance Information Institute (I.I.I.).
“Catastrophes striking the United States in the first nine months of 2011 caused $32.6 billion in direct insured losses, nearly double the $18.6 billion in catastrophe-caused direct insured losses insurers generally incur over the first nine months of any given year,” said Dr. Robert Hartwig, CPCU, the president of the I.I.I. and an economist, citing figures released earlier this month by ISO’s Property Claim Services. “The $32.6 billion figure doesn’t even include the significant insured losses which arose after the pre-Halloween snowstorm, which caused enormous damage to multiple states along the Atlantic seaboard. Coupled with other events in 2011’s fourth quarter, direct insured losses could exceed $35 billion this year.”
Despite the frequency and severity of 2011’s natural catastrophes in the U.S., policyholders’ surplus—insurers’ net worth measured according to Statutory Accounting Principles—fell only four percent to $538.6 billion as of September 30, 2011 as compared to $559.2 billion at year-end 2010.
“The policyholders’ surplus number is a sure sign that U.S. property/casualty insurers remain well-capitalized, and capable of paying future claims,” Dr. Hartwig stated.
via III – Private-Sector Insurers To Pay More Than $32 Billion In Claims From Natural Disasters In 2011.
Adjusting Tips for Business Interruption Claims
Adjusting Tips for Business Interruption Claims.
This article was on ClaimsJournal.com early last week, just before all of the snow and ice moved through the midwest. After a week of severe snow and cold, we expect more and more calls for business interuption (BI) claims due to many types of covered losses; burst pipes, collapsed roofs and long term power outages.
In addition to the tremendous amount of damage that the primary insurance claim can cause, the loss of revenue while the repairs are being made can be devastating to a small (or large) business.
Imagine that your store is closed for the next 3 months. Can you pay the rent without your customers coming to see you? How about your employees? How do they get paid? Can you afford to move your entire business across town and start over?
These losses normally come under business interruption coverage or other endorsements. If you have a business claim and are not sure what is supposed to be paid for, then call American Property Loss Services, Inc. for a free claim review today!
855-757-2757 – And remember “Your Recovery is our Success!”
Local Public Adjusters Ready Now!
If you’re dealing with property damage and need help with your insurance claim, don’t go through it alone. Contact us today for a detailed consultation.