For property managers, navigating the property insurance claims process after a disaster is often part of the job. When filing a property insurance claim, following local insurance ordinances and limiting business interruptions are two of the most crucial aspects of moving forward.
Here are some helpful tips to follow to make sure filing your property insurance claim goes as smoothly as possible.
Take a look at your insurance policy
It is always a good idea to make sure you are aware of the coverage your insurance provides ahead of time. Before you file a claim, review every detail of your policy be sure that you know exactly what is covered to limit confusion or loss.
Inspect and Document the Damage
As soon as the damage occurs, be sure to take detailed notes and photos as proof for the insurance company. The insurance adjuster assigned to your claim by the insurance company will likely only document the most obvious external damage visible at the time of the inspection. Visually documenting all damage immediately after the loss occurs will help you show proof later on.
Checks and Release Forms
After the insurance company’s adjuster arrives and completes his/her inspection, you will receive payment for the damage. Be sure to send back the release form as soon as you can. If the check you received is not enough to cover the damage, do not settle. Getting a second opinion on the extent of the damage is a smart move to make certain you are getting the full amount you deserve.
Get a Public Adjuster to Help
Let’s face it, as a property manager, you’re focus taking care of your property and tenants – not dealing with insurance paperwork. Enlisting the help of a Public Adjuster takes the burden of managing a property insurance claim off your plate. Professional Public Adjusters settle property insurance claims every day, and know all the ways that insurance companies try to avoid paying full value.
Have questions about your property insurance claim? Feel free to contact Stark Loss for more information about how a Public Adjuster can help.