We often seek an insurance claim contractor out after a fire, accident, or another unfortunate event has occurred. Many people may think that filing an insurance claim and simply waiting for money to roll in while life is put back together will suffice. However, this may not always be the case.
Filing an insurance claim can take time, and if damages are extensive, you may need an insurance claim contractor to expedite the process. This article will look at four reasons why you may need an insurance claim contractor, but first.
Who Is An Insurance Claim Contractor?
An insurance claim contractor is a third party who inspects and reports on the damages in an insured event. This may inspect the property damage, assess potential hazards, or even do repair work. Insurance claims contractors are not limited to only reporting damages to the insurer; they can also provide repair quotes or do repairs themselves. You can learn how to hire an insurance claim contractor when you click on this link and read the information they provided. Depending on the insurance company, they may require a contractor to be hired to receive your claim payments. In most cases, the insurance adjuster may not make the last payments without confirmation from an independent contractor.
There is no one answer to why someone might need an insurance claim contractor after an event has occurred, but here are four reasons.
1. An Insurance Company May Make You Wait Too Long for Money When Your Claim is Settled
Insurance Companies may use deceptive practices to delay the settlement of your insurance claim. They may use this as a ploy to force you to take less money than what you should receive for the damages they caused you. If an insurance company has been dragging its feet and refusing to settle, then it is time to hire a contractor that will work to get you the money immediately.
2. Insurance Companies Are Ready to Deny Your Claim Despite Respecting the Letter of Your Policy
Insurance companies are often ready to deny your claim, no matter how conscientious you may regard the terms of your policy. As an insurance claimant, someone must have your back, which means fighting tooth and nail to protect your rights and interests. Of course, that is where an insurance claim contractor comes in. They will ensure that your rights and interests are fully respected and protected.
Insurance companies are not in business to pay claims but to make money. Therefore, they exist–to bring in more revenue than they spend. Thus, an insurance company that has a known track record of paying claims will probably be a target for lawsuits and declining profits. This can spell trouble if you’re trying to collect on a legitimate claim.
An insurance company will not care whether you are within the letter of your policy. If they can find even the tiniest loophole, they are likely to exploit it to deny your claim.
You must have someone on your side who knows what is involved with properly filing a claim and making sure it is paid in full.
3. Insurance Claim Contractors Know How to Negotiate Your Claim Payment
Insurance claim contractors are skilled at negotiating with insurance companies, often getting better payouts for their clients than an individual could ever hope to call themselves. An insurance claim contractor will do what it takes to ensure that you receive maximum benefits under your policy. With insurance claims, negotiations are critical. An insurance company will not offer you a million dollars for your house. They often have already sized up the damage before they even talk to you and have an idea about how much money will be enough to settle with you.
Insurance claim contractors possess professional negotiation skills that allow them to obtain a payout that is 100 percent of the maximum benefits available under your policy. So rather than settling for 30 percent of what you could be entitled to, an insurance claim contractor negotiates on your behalf so that you receive 100 percent of the benefits you are owed.
4. Insurance Claim Contractors Know When It’s Time to Hire a Lawyer and File a Lawsuit
If a contractor believes that an insurance company has mistreated them, they may hire a lawyer. If this happens, the insurance claim contractor will file a lawsuit against their client for breach of contract when one party fails to meet its obligations as stated within a contract. A case can often be avoided through communication between both parties. However, if a contractor has been mistreated repeatedly and cannot resolve the issue with their insurance company, hiring a lawyer may be the only solution.
Are you one of the many homeowners that have suffered flood damage? If so, then you know how much of a pain it can be to have your house torn up due to the clean-up.
Not only is it a tremendous inconvenience, but you will also have to pay for the contractor doing the work and then wait on an insurance company to reimburse you. This can be costly and time-consuming. That is why using an insurance claim contractor may be an excellent option for you.