How it Works?
First Step
We begin the investigation of your insurance claim with a detailed review of your policy declaration and all its supporting endorsements. This allows us to determine applicable coverage, limits and exclusions. Keep in mind it is not unusual for insurance policies to differ from current state laws; therefore, we also analyze a variety of other resources to help maximize your insurance claim, such as local laws and ordinances pertaining to construction. We also look at decisions from the Insurance Commissioner’s office, industry articles and recent case history to determine whether current adjusting practices and procedures differ from your policy.
Documentation of your Insurance Claim
Every insurance policy includes a provision titled, “Your Duties After a Loss.” In order to document and file an insurance claim, the insured is required to fulfill these duties. Property Loss Advisors will advise and assist you ensuring you meet these requirements. This includes but is not limited to:
- A detailed estimate supporting our scope of damage and engineering documents if needed
- Detailed and verified inventory and content list with valuation and supporting documentation
- Required technical and supporting documentation for positions taken in the claim
- A detailed accounting of your actual and forecasted lost revenue and continuing expenses
Presentation of the Insurance Claim
After documenting your insurance claim, we prepare a schedule of losses that is reviewed by our staff. The insurance claim is then separated into the appropriate policy categories. We meet with you to go over the claim in detail and answer any questions you have. Following your approval, we submit the claim to the insurance company.
Negotiations and settlement
The final phase of the claims process may include clarification requests from the insurance company and negotiations. Property Loss Advisors minimizes your involvement with these requests while justifying the value and urgency of your claim. We also initiate status updates keeping you informed of all negotiations and traction your claim gains as we move closer to settlement. We will not settle your loss without your consent.