As a homeowner, preparing for the unexpected with an insurance policy is essential. Accidents can happen at any time, whether it’s a fallen tree or a burst pipe. That’s why it’s crucial to understand what to expect if you ever need to file a homeowner’s insurance claim. By being informed, you can rest a little easier knowing that you can handle any unforeseen circumstances that may come your way.
After a disaster, returning to normal can be daunting, but thankfully, you have a friend in the insurance game. Brian Singer from the Alliance Adjustment Group has years of experience dealing with insurance companies, so you do not have to. Servicing Pennsylvania, New Jersey, Delaware, and Maryland, he is available 24/7. As an insurance public adjuster, he fights for every penny you are due from your insurance company. Brian Singer is a member of the LeTip Buxmont business networking group. This shows how dedicated and respected he is in his community.
If you have a mortgage on your home, the insurance company will most likely make the insurance check out to you and the mortgage lender for repairs. Lenders typically require this as a condition of granting a mortgage. They usually need to be named in the homeowner’s insurance policy and be a party to any insurance payments related to the structure. The same goes for those who live in a coop or condominium. The management company may have required the building’s financial entity to be named co-insured. This way, the lender (or the overall structure) can keep tabs on making the necessary repairs. When a financial backer is co-insured, they must endorse the insurance claims check before you can cash it.
To ensure they complete the necessary repairs on your property, some lenders may place the funds in an escrow account and pay for the work once it’s finished. To start the process, you can provide your mortgage lender with a bid from your contractor and let them know the amount required to begin the project. Once they finish the repairs, your mortgage company may inspect the work before releasing the funds to pay your contractor. This helps ensure that they complete the job satisfactorily and that everyone involved is protected.
Regarding insurance claim payments, there are a few key things to remember. First and foremost, it’s essential to understand that the process can be complex and time-consuming. Depending on the nature of the insurance claim, multiple steps may be involved, including filing the insurance claim, providing documentation, evidence, and waiting for the insurance company to review the insurance claim and to decide on the proper payment.
One thing to keep in mind is that insurance companies are businesses, and as such, they are motivated to minimize their insurance payouts as much as possible. This means they may find ways to deny claims or minimize the money they pay. It’s essential to be diligent and persistent in pursuing your insurance claim and to provide as much documentation and evidence as possible to support your case. Hiring a public insurance claims adjuster like Brian Singer is the best step. He will inspect your home or business’s damage and write a detailed report. He will speak to your insurance company for you to receive every dime you are due.
Another critical factor to consider is the role of deductibles and copays. Depending on your policy, you may be responsible for paying a certain amount before the insurance company starts covering the costs of your insurance claim. Similarly, you may be required to pay a percentage of the expenses even after you pay the deductible. Ensure you understand your policy’s specific terms and conditions, so you can plan accordingly and avoid any surprises. Brian Singer will look over your insurance policy before contacting the insurance company. Then on your behalf, Brian will show evidence of the damage and negotiate with the insurance company.
Contact Brian Singer at (215) 880-3958 BEFORE you contact your insurance company. You can visit his website to learn more. As a public insurance adjuster, he will fight for every penny you deserve!