What we do for you
Immediately upon engagement, Policyholders Adjusting Services will perform the following:
1) Obtain an advance payment from your insurance carrier for your immediate needs such as hotel, food, etc… Policyholders Adjusting Services will secure temporary housing if needed on your behalf, until your residence is restored.
2) Secure your property, per the requirements of your insurance policy, i.e., boarding up, security fencing and/or providing your property with a security guard, if deemed necessary. In addition, Policyholders Adjusting Services will obtain emergency water and electrical services to your property if needed.
3) Assess your requirements and the insurance company’s obligations.
4) Explain the terms and conditions of your insurance policy in plain English and how they apply to your loss/claim. This includes a clear definition of the technical clauses and endorsements of the policy.
5) Inspect your damaged property and prepare a plan of action with you, the insured.
6) Contact and meet with your insurance company’s adjuster to discuss the scope of your loss and policy coverage. On your behalf, submit all claim documentation to the insurance company’s representatives and take part in all discussions and meetings with the insurance company.
7) Proceed to compile all the details with respect to replacement cost values and actual cash values (if applicable) to your home or building.
8) If applicable, review the co-insurance requirements of your policy as it relates to the building portion of the claim and prepare all appraisals required complying with said co-insurance requirements.
9) Prepare on your behalf a complete inventory of all contents insured under your insurance policy.
10) Apply proper values to each item of the contents as required under your policy. Theses values include replacement cost, actual cash value, and amount of loss to each item.
11) Do a complete business interruption analysis, to properly project, the potential loss including duration of the period of indemnity. A complete analysis is undertaken to properly project the potential business interruption exposure (if applicable).
12) Review all claim data with you and obtain approval before providing such material to the insurance company or its representative.
13) Keep you advised of the progress of the claim adjustment, providing prompt service to you without jeopardizing your claim.
14) Disclose promptly and fully report any offers of settlement by carriers to you, our client.
15) All settlement amounts are subject to your final approval and authorization.
We can also answer questions you may have, such as:
• What is the Definition of Actual Cash Value?
• How is, depreciation arrived at for building damage?
• How is, depreciation arrived at for contents damage?
• When do I recover Replacement Cost benefits for personal property?
• Who selects the contractors to bid on the loss?
• Who decides which contractor will do the repairs?
• What role does the mortgage company play in disbursing the proceeds?
• Should I call my mortgage company?
• Who does the adjuster represent, the insurance company or me?
• Who does the agent represent, the insurance company or me?
• Am I entitled to advances on my loss?
• Should I accept advances under Contents or Additional Living Expenses?
• How long does the average fire loss take to adjust?
• Whose name should be placed on the check that the insurance company issues?
• What happens to the personal property destroyed or damaged in the fire if I have a total loss?
• Who is entitled to the salvage?
• Who pays for the cost of cleaning or storage if we run out of limits of insurance?
• Do we have to repair the house exactly the way it was?
• What, if part of a set, is destroyed?
• What is, “Like, Kind and Quality?”
• Are we compensated for time off work?
• What are Additional Living Expenses?
• Does the amount of my settlement affect my insurance agent’s commission?
• What if we do not want our home repaired?
• How can a Public Adjuster assist in our claim?