This additional monies, give the Association Boards the financial power for reconstruction and property repairs to the satisfaction of the unit owners.
Tailored Claims Solutions
Adjusting commercial -condominium claims requires a tenacious attitude. Every claim is different and requires a mindset unlike typical residential or small business claims or other commercial losses. Condo Association claims require carefully tailored solutions unique to each property. After a hurricane, or any covered peril, the problem could be all about governing documents, ownership interests, and insurance coverage analysis. Or it could be a combination of roof leaks, damaged roof tiles, destruction of the clubhouse, pool area, signage, and much more.
A few questions and answers that may help define the role of a Public Adjuster.
Q: If our Association hires a public adjuster will we lose our insurance coverage?
A: No. The Department of Insurance has laws that prohibit this type of action. It is your right as the insured to hire a licensed Public Adjuster to professionally assist you throughout the claims process.
As public adjusters not only must we thoroughly inspect and estimate the damages we must have the communication skills to work closely with:
- Condominium Association board of directors
- Property Management companies
- Insurance company adjusters
- Structural Engineers
- Law firms specializing in insurance claims
Public Adjusters also have the knowledge of experts such as:
- Air Conditioning consultants & companies
- General contractors
- Roofing consultants & contractors
- Industrial hygienist - Mold and mildew specialists
- Water extraction experts
- Plumbing Services
- Repair Specialists
- Sign Manufacturers
- Painting Contractors
Q: As a Public Adjuster can you negotiate the services of a contractor?
A: No, legally a Public Adjuster cannot hire any person or company to complete any repairs on your behalf; it would be a conflict of interest. A Public Adjuster ’s job is to settle your claim with the maximum amount of compensation possible.
*United States Adjusters can however, provide your Association with a list of licensed and bonded contractors for your board to receive professional consultation.
Q: Are we better off first hiring an attorney?
A: That depends? If your claim has not been denied for coverage, a knowledgeable Public Adjuster can get the claim handled. A Public Adjuster will prepare the required documents and get the insurance company to respond
With so many individuals and entities involved, Condominium Association Claims can be incredibly complicated and time consuming. Meeting the expectations and requirements of many different personalities and different mindsets is a challenge United States Adjusters takes very seriously. Our focus is always to be the team leader and represent the Association through a knowledgeable single voice to your insurance company always striving to gain the most beneficial compensation for your Association and to get your facilities healthy again.
For more answers to your questions regarding Condominium Associations email United States Adjusters at info@usadjusters.com
THE OFFICE OF PROGRAM POLICY ANALYSIS AND GOVERNMENT ACCOUNTABILITY STUDIES PUBLIC ADJUSTING INDUSTRY IN FLORIDA AT THE REQUEST OF THE LEGISLATURE. Their report confirmed that:
"Policyholders with Public Adjuster representation typically received higher settlements than those without public adjusters"
Policyholders that filed catastrophe claims in 2008 and 2009 generally received larger insurance settlements than policyholders that did not hire these persons (Public Adjusters). The typical payment to a policyholder represented by a public adjuster was $22,266 for claims filed in 2008 and 2009 related to the 2004 hurricanes. In contrast, policyholders who did not use a public adjuster received typical payments of $18,659. The difference in payments was larger for claims related to 2005 hurricanes, with public adjuster claims resulting in payments that were 747% higher.
For non-catastrophe claims, policyholders who used Public Adjusters received an estimated $9,379 on their claim, compared to $1,391 for those policyholders that did not use a public adjuster (a difference of 574%).
To read the OPPAGA REPORT (CLICK HERE) |
