Insurance Claims Negotiator

Your House is Heavily Damaged. Does it Need a Band-aid or a Bulldozer?

Your House is Heavily Damaged. Does it Need a Band-aid or a Bulldozer?

One of the most critical aspects of public adjusting is managing a client's expectations. But when our client asked about getting a whole new home, he wasn't necessarily dreaming.

Imagine walking out of the house on a few errand only to return a short time later to find that two-thirds of your home is engulfed in flames. The cause of the fire was found to be an electrical problem originating in the basement. The original home construction method is no longer allowed due to the high risk of fire spread.

With at least a two-third loss the clients insurance company felt that a repair would suffice.

The dwelling was a unique, three story home with balloon framing. This involves three-story studs from the first to the third floor. The main cross support beams went through the center of the house, under the fireplace, and supported the chimney and flue. This method of framing was popular from about 1890 to approximately 1930s, and involved a single long beam being used rather than shorter 2 x 4's on each floor.

The homeowners insurance policy called for a limit of $239,000, so one of the basic questions is whether the home should be repaired or rebuilt. This comes down to the practical decision being based on budget and how well the damage is documented and justified.

"All insurance is a la carte," Says Jeff Wagner, "it isn't a buffet!" What does this mean for Jeff's clients? Each area of the insured policy must be examined to identify the insurance limits. Every aspect of the damage is considered individually and the repair/replace numbers are compared. When it comes down to it, you need to know what defines each area of concern.

This is where managing expectations comes in. The client in this case felt that the home was a total loss and after our close assessment, he was proved correct.

Over 250 hours were put into the evaluation of the home, damage, contents, and structure loss by the ICN team. All aspects were photographed, catalogued and archived. Then the negotiations with the insuring company began. The estimate alone took 90 pages and included; two days of demolition, a time frame estimate to rebuild at a cost of $220,000 and approximately $2,000 per month to house the family during the rebuild process.

The check that was delivered was $289.000. The clients were very happy to get their new home started.

At Insurance Claims Negotiators we are very detailed because we work only for our clients. Who is representing your interests?

Working with an experienced Licensed Public Adjuster is much better if your adjuster has extensive contracting experience. Jeff Wagner is both experienced and recognizes each area where the homeowner can reach the maximum limits possible. Did you know that there are NO FEES unless the public adjuster gets your claims paid? Call us for a second opinion if your insurance claim representative seems to missing the mark.

If your property has suffered from fire, water or storm-related damages, call or email Jeff Wagner, Licensed Public Adjuster 267-265-5137.

Working for you every step of the way!

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