 Often times when you file a property damage insurance claim, your insurance company requires you to provide certain documentation in support of your claim. This is a requirement in your insurance policy under your Duties After Loss. One of those duties, when requested by the insurance company, is to provide a Sworn Statement in Proof of Loss within sixty days of their request. However, there are a few insurance companies that require this document be submitted, without being requested and have made it an actual requirement in their policies. Most property owners would not even know this language exists in their policies, much less know how to complete this document or where to obtain the information needed.
A Sworn Statement in Proof of Loss, also referred to as a Proof of Loss or POL, is a document which sets forth information that is contained in your insurance policy, the date and time of loss, the type of loss, your information as the owner of the property and information on anyone who also owns an interest in your property. It also requires you to provide the amounts of your loss which is also accompanied by supporting documentation. There has never been a time when this request was made of our clients, that they knew what to do. We always prepare them on behalf of our clients and submit the Proof of Loss to the carrier together with the supporting documentation. We can 100% back up what is being claimed with our detailed itemized estimates and photos and any additional support documentation which is included in the valuation of your property damage. This is why we are referred to as insurance professionals. With our knowledge and expertise in the industry, along with being in business for over 15 years, we know exactly what is required. We make it our business practice to prepare and submit this document before it is requested by the insurance company. Also, by submitting the Proof of Loss, we place the insurance company on notice and they are required to respond within the time period specified in the policy. Always let a licensed, knowledgeable public insurance adjuster assist you to complete the required document submission for your insurance claim. You can always rely on Reliant! Call us 561-288-6434 or contact us here.
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 During the past 15 years, insurance companies have removed coverage from your insurance policy little by little, thereby eroding important coverage needed to repair your property if you have an insurance claim. Some of them have “offered” for you to buy back the coverage they removed at an additional cost in your premium. Such a nice gesture, right? Wrong! What’s happening here is that your premium continues to increase year after year for less and less coverage.
Also, if you have an insurance claim, some insurance companies make you feel that they are doing you a favor by paying anything at all on your claim! I have had clients tell me that their insurance adjuster treated them as if the money being paid on the claim was coming from their pocket instead of the insurance company. Yes, you read right and it is mind boggling to me. You pay your insurance premiums all these years and expect to be covered when you have an insurance claim and need it the most. Unfortunately, they see it very differently. You have become a “number” in their system, and they need to keep the payout on that number as low as possible. We have also noticed that some insurance companies conveniently have blinders on when there is visible damage to property, such as mold, and leave that coverage completely undiscussed. Unfortunately, this doesn’t just affect one policyholder, it affects every homeowner, condominium owner and building owner with not only less coverage, but rising insurance premiums and fewer insurance companies to choose from to insure your property. With our knowledge and expertise in the industry, and being in business for over 15 years, we know exactly what is required to make sure all coverages are addressed in your insurance claim. You can rely on Reliant! Call us 561-288-6434 or contact us here for a FREE insurance policy and claim review.  Months ago, life as we all knew it changed overnight. As I am always optimistic, I am certain that we will overcome this and come out of this stronger than before as we always do when faced with adversity. I will never forget 9/11 which is proof positive that we are strong, we stand together and we can overcome anything.
There is certainly a new normal as states and counties reopen. From day one during all of this, I have said and will continue to say, that you must take care of yourself. Taking care of yourself is not selfish, it is wise, and you cannot poor from an "empty cup" if you don't take care of yourself first. Keep your body moving and find the positive in every single day! There is amazing beauty that surrounds us, and I choose to take it in every day. Are there some days when I stop and say “What the heck! When will things be normal again?” Yes, but those days are few and far between. Truth be told, I do feel normal because I do everything I can to stay healthy both physically and mentally. Daily workouts, walks at dusk, breathing fresh air and enjoying the wildlife that surrounds me, eating healthy, drinking a lot of water and taking my vitamins. Read a good book, listen to music and dance like nobody is watching! I cannot stress this enough and if you do these simple things you have right at your fingertips, you too will feel good and realize how important it is for your overall mental and physical health. Some of you are feeling the added stress from assisting your children or family members with virtual schooling. Who knew you’d be going back to school at this stage of your life. But here you are, and you are killing it and doing great! Make sure to pat yourself on the back because you certainly deserve it. Also keep in mind that your children are not used to sitting in front of a computer all day to learn, and there is something very important in my advice above for them as well. It is extremely important for them to adopt these same habits. If they see you doing it, they will want to follow along and do it with you! Thought for the day ... Practice self care so you can be healthy and happy for everyone, including you so your cup remains full. Have a great day!  During recent weeks, we heard industry rumors that some insurance carriers will no longer be insuring roofs at replacement cost value (RCV) and will only be insuring it at actual cash value (ACV). I know you are saying. “What does this mean and how will this affect me?”
Being that we are in hurricane season and most roof damage is caused by hail and hurricanes, I will use this example …“Hurricane We’re Screwed” strikes Florida and damages your roof causing water to enter your property, which then causes water damage to the interior. You report your claim to your insurance company and Mr. Adjuster conducts an inspection of your property. He agrees that the damage to your roof warrants replacement of the roof. You finally receive a check and think to yourself, “this can’t possibly cover all my damage!” Well, you are correct. Although your insurance company agrees to pay your roof replacement, they have depreciated the replacement of your roof by the age of your roof and, in addition to that, the depreciation may no longer recoverable. Roofs are normally paid based on replacement cost value, minus a deduction for recoverable depreciation and minus your deductible. Once the repairs are completed, the depreciation is reimbursed to you. Now, for those insurance companies only insuring a roof at actual cash value, there is no recoverable depreciation. Once one carrier adopts this into their policy, other carriers will follow. If you are insured with a carrier that has this in their policies, your roof will now be depreciated and paid based on it’s age. If you are a homeowner, a homeowner association or a condominium association, this is important information you should not miss as your policy could change upon renewal. This type of policy change is not favorable to consumers! We offer free insurance policy reviews. If you have any questions call 561-288-6434.  Pre-purchase home inspection reports are very important to determine if there is existing damage to the property you are interested in buying. It gives the seller of the property an opportunity to repair what is broken and certainly gives you the opportunity of not purchasing the property. It is also a good tool when you have an insurance claim. Why? Because it shows the condition of the property before the property was owned by you.
As we approach the statutory deadline to file a Hurricane Irma insurance claim, we are getting an increase in calls from homeowners telling us that someone has knocked on their door telling them they can get them a new roof and handle their entire claim. My first questions is “who knocked on your door?” After talking to some of these homeowners, I realized that these door knockers are NOT licensed insurance professionals and they are soliciting for roofing companies and contractors. We always ask a lot of questions because information gathering is key and very important with any insurance claim. One homeowner told me that she was not the original property owner and purchased the property about 7 years ago. I requested a copy of the pre-purchase inspection report and we set out to inspect her roof. Unfortunate for her, the damage to her roof was pre-existing and the same exact damage was in the inspection report when she purchased the home. She was shocked and had no idea when I told her. I cannot stress how important it is to read these reports. As a property owner, it is your responsibility to know the condition of the home you are buying. What this unsuspecting homeowner didn’t know is that this unlicensed activity by door knockers and the people they work for is not only a 3rd degree felony, but also insurance fraud if she were to have signed a contract for them to represent her with an insurance claim. This leads to a rise in our insurance premiums when these individuals make false reports on your property. Please report any unlicensed activity here. Reliant Insurance Adjusters provides Pre-Loss Property Inspections and drone services. If you do not have a pre-purchase home inspection report, or you have owned your home for more than 10 years, you need to have one. This report will certainly come in handy if you ever have an insurance claim, so you can show that the damage you are claiming is not pre-existing. We have different packages to accommodate homeowners, condominium owners and building owners. For more information, contact us here or call 561-288-6434. |
