3 Ways To Proactively Protect Your Building Assets Before Filing Property Damage Claims
1. Periodically review your coverage to make sure it is adequate and fits your needs. Insurance companies capitalize on the fact that the average consumer is too busy to or cannot interpret their insurance policy accurately without enlisting professional assistance. A policyholder may be underinsured or face exclusions for things you need, but simply not know it until a catastrophe occurs and it comes time to file your claim. Policyholders should carefully review your policy coverage before filing a claim so you will fully understand what your existing policy covers and what it does not.
2. Document and inventory your property before a catastrophe strikes. All insurance policies require that “you” make a detailed listing of all property damages when filing a claim. You should record everything of value - photos are best when possible - collecting details such as make, model, serial numbers, purchase receipts, etc. You can use that as the basis for negotiating the market value of that property and the carrier will not be able to claim damage was pre-existing or due to normal wear and tear.
You may also want to consider obtaining a professional appraisal of your roofing systems and any other expensive exterior property structures. If you can show in concrete documentation why your insurance settlement should be more, most companies will be more willing to make a supplemental payment, and your chances of getting a sufficient approved insurance claim increase significantly for every piece of documentation you can provide.
3. Hire experts who understand the insurance industry and can properly defend and win your claim. Did you know that most insurance companies believe in a deny, delay and underpay policy when it comes to insurance claims?? Policyholders and the insurance company have competing interests. The policyholder wants as much reimbursement for damages as possible, and the insurance company wants to repair the damages for the lowest cost possible.
Rest assured, the insurance company will send their own experts to minimize their losses. Be prepared and retain your own experts to defend against your losses. In fact, The Office of Program Policy Analysis and Government Accountability issued a report that found policyholders who retained public adjusters for their claims got 747% higher compensation than those working solely with their insurance company.
*BlueKey has created a unique Building Asset Management program (our proactive approach to catastrophe) to help Property Managers and Building Owners protect valuable assets. Simply stated, our program takes the guesswork out of the insurance claim game and ensures you win your claim fast and are paid for 100% of your damages.
FOR A LIMITED TIME ONLY!! All property managers and building owners receive complimentary enrollment in BlueKey's Building Asset Management program by contacting us and signing up before March 31, 2017. For more information and enrollment, please contact David Lewgood at [email protected] and (210) 465-3830 / cell: (678) 665-9904. www.bluekeycrc.com