 After a significant hurricane or weather-related tragedy, opportunists and fraudsters seem to come out of the woodwork to prosper off the vulnerable situation property owners may find themselves in.
In the hectic, chaotic days that follow any storm, dishonest contractors, repair businesses, and service-related representatives prosper with promises of cheap repairs, emergency grant money, or claims of altruistic intentions. During these vulnerable moments, it is more important than ever that property owners be aware of unlicensed individuals who may show up at the door with lofty claims. Avoid Home Improvement Scams Be cautious when any salesperson or self-proclaimed expert appears at your door uninvited. Many scammers prey on unsuspecting and vulnerable property owners by going door to door. Home improvement scams often flourish in the wake of disasters, especially after violent storms such as hurricanes and tornados. However, they “prowl” at all times of year in the hopes of making a quick buck off of property owners. Scammers know concerned owners will spend money to improve a problem with their property. The claims made by any unsolicited contractors, or any offers that seem too good to be true, should be given a second look. Here are some suggestions for protecting yourself. Take Precautions When Giving Vital Information Never divulge your policy number, coverage information, or any other private information to individuals or businesses unless you have thoroughly investigated the contractor and are prepared to sign a contract after doing your due diligence about the company. Verify Licensing and Credentials Be sure to check with your insurer, prior to contracting for services, to confirm your coverage and policy requirements. Hire only licensed specialists with a good reputation and acquire itemized estimates for bids or repairs.
Choosing a Contractor Choose the person who will work on your property carefully by doing your homework. Selecting a contractor with a recognized physical address, Google reviews, and a current phone number is an important base to cover. Take the step of seeking out customer testimonials or referrals to ensure the contractor has a quality reputation. The best course of action is to obtain quotes from multiple contractors before having any work done on your home. Get the proposals in writing, and make sure the details of the services to be provided are clear. Carefully Examine Contracts The majority of home improvement and repair work is done under contract. In fact, for their own protection, reputable companies typically demand contracts. A well-written contract should also safeguard the property owner. Verify that the written contract contains all the “promises” made to you. Insist on a formal contract that details the work to be done by the contractor, including when it will begin, and when it is estimated to be completed. Make sure the contract specifies the cost of special orders and materials and contains everything the contractor or salesperson promised. Be Wary of Lofty Claims of Savings Anyone who approaches you without your permission or claims to be able to perform repairs at a reduced cost should be suspect. Contractors who demand big deposits or upfront payments should be avoided. Never make checks payable to a person or to "Cash," but rather to a company. This request would be a huge red flag you shouldn’t ignore. Just say “No” to individuals who tell you to avoid getting permits to save money. Most repairs require a permit, which ensures adherence to building codes and rules, and an inspection of the finished work might be necessary to complete a permit. Hire a Public Adjuster to Help Public adjusters may be hired by policyholders to help them with their insurance claims. Even though the majority are trustworthy, after a disaster, unlicensed individuals claiming to be public adjusters may also attempt to take advantage of property owners. Partner with a reputable company such as Reliant Insurance Adjusters to ensure that your best interests at a property owner are their priority. If you have any questions about your claim or you need to file an insurance claim, contact Reliant Insurance Adjusters today.
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 In December, Florida Legislators held a special session during which they passed a new bill that was signed into law in an attempt to stabilize Florida's troubled property insurance industry.
Unfortunately for Florida policyholders, it falls far short of its intended purpose, it is not so consumer friendly and ultimately favors the insurance industry. The legislation raises many issues and questions, making it even more important that you have a qualified public adjuster on your side to obtain a proper insurance claim settlement. What was the Intended Purpose? According to the Insurance Information Institute, Florida homeowners, who already pay some of the highest insurance premiums in the nation, have witnessed average rate increases of 33%, with some receiving quotes for increases of up to 10 times their current premiums. In light of statistics showing that Florida accounts for 7% of all property insurance claims but 74% of all property insurance litigation, the legislature responded with changes outlined in the bill. What Changes Can be Expected? Property insurers have long argued that litigation encourages cost increases and that so-called "one-way attorney fees" are to blame. The new legislation takes away one-way attorney fees, which mandated that insurance company’s cover the legal costs of policyholders who prevail in their insurance claims. Unfavorable Changes for Policyholders:
What You Need to Know Before Selecting a Policy with Binding Mandatory Arbitration:
Policyholders Insured with Citizens Property Insurance Will See Increases Citizens Property Insurance will now require that all their policyholders carry flood insurance. If you receive a comparable coverage offer from a private insurance carrier, even if the coverage is more costly, you will not be eligible for coverage with Citizens at renewal. If you own property and it is not your primary residence, your insurance rates will increase. Some Favorable Changes for Policyholders:
Unbeknownst to many policyholders, these contractors were filing lawsuits against insurance companies to recover payment under their AOB. This certainly increased the amount of lawsuits that were filed when there was a claim dispute, and this only resulted in higher premiums for policyholders. Hire a Public Adjuster to Help The revisions contained in the bill are an overcorrection that strips homeowners of their rights and leaves property owners at the mercy of their insurance company. Now more than ever, policyholders need a reputable partner like Reliant Insurance Adjusters to ensure your rights are protected and get you the claim settlement you deserve. |
AuthorKaren Schiffmiller Archives
January 2023
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