Submitted by david

Q: I had water damage in my house that flooded the whole house. What should I do? I need help.

Answered 06/16/08 22:41:10 by joseph sabbagh

A: The first thing to do after your property is flooded, no matter where the water is from, is hire a water remediation company to dry out your property as soon as possible. This is a crucial step in preventing and containing mold growth. Water can damage the contents of your home and personal property, as well as destroy wood floors, sub-flooring, wooden frames, seep under tiles or into sheet rock/dry wall causing extensive damage to the property. Often mold can grow underneath tiles or behind dry wall damaging the insulation and creating a hazardous environment. As a result, it is extremely important to contact Maximum Insurance Adjusters in order to have one of our highly knowledgeable and skilled adjusters assess the damage that you may otherwise not see. Insurance policies vary and may have limits, exclusions, or clauses that can affect your water damage claim. Some insurance policies have a mold exclusion or mold limit that may affect elements of your claim. Additionally, sewer or toilet flooding can cause serious health concerns and extensive repairs. Skilled evaluation of the damage and the extent of the necessary repairs is usually needed. At Maximum Insurance Adjusters we work with you to maximize your settlement with your insurance company for the most money you are entitled to under the terms of your policy for your claim. If you must vacate your property, be sure to have the electricity and water shut off to prevent injuries or further damage to the property and save all receipts for Additional Living Expenses (ALE) if applicable. It is also important to call your insurance company, or Maximum Insurance Adjusters, to file your claim. Maximum Insurance Adjusters can handle your claim from beginning to end, helping to alleviate all the frustration and work associated with managing your claim. The sooner your insurance company is notified about your claim, the sooner you can start receiving payment. Once the water restoration company has completed the job, you need to start mitigating the damage immediately, separating damaged property from undamaged property. At Maximum Insurance Adjusters, Inc. we can help you itemize the unsalvageable damaged property, document the losses, take pictures, and assist you in determining the dollar value of your contents. This will help us negotiate your claim and substantiate your losses, allowing us to pursue the maximum settlement you are entitled to under the terms of your policy. At Maximum Insurance Adjusters, Inc. we handle all types of insurance claims: ~Hurricane, Fire, Lightning, Tornados, Sinkholes, Floods, Theft, Mold, Water, Broken Pipes~ *Residential, Commercial, Boat/Marina, Airplane, and Building Associations*

Submitted by Eddy from Miami, Fl

Q: My mom had filed a claim and the insurance company sent a check made out to her, the adjuster, and the mortgage company. She was informed that each of the three entities had to endorse the check before she could cash it. Is this normal? Also, after she and the adjuster endorsed the check she mailed it to the mortgage company (in Illinois)and now the mortgage company does not want to mail the check back. They are insisting she provides them with contractor quotes for the work to be done. They are now telling my mother they will send the balance in small payments. Do they have the right? What can I do?

Answered 06/16/08 22:40:20 by joseph sabbagh

A: With regard to your first question, it is common practice for insurance companies to issue settlement payments to all interested parties. Since your mother has a mortgage on her home and she hired a public adjuster to handle her claim, all three parties are usually named on all settlement checks. Usually, the public adjuster will endorse the check, get it signature guaranteed at their bank, and return it to the policyholder for them to endorse and forward to the mortgage company. Here at Maximum Insurance Adjusters, our clients have encountered several scenarios that seem to typify general mortgage company standards with relating to insurance company settlement checks. Typically, a homeowner in good standing with his/her mortgage company and little to no history of delinquent payments, will have the full amount of their settlement check released to them by their mortgage company, as long as the settlement check is for less than $20,000. A settlement check for a sum larger than $20,000 is often held by the mortgage company until a licensed contractor’s or roofer’s signed contract is presented to them. At that point they frequently either release the full amount or issue a check for 1/3 of the contractor’s or roofer’s contracted amount for the repairs. The money for the repairs is often dispersed in thirds as the work is performed until the entire contracted sum is released and all the work is completed. Frequently the mortgage company will require an inspection of the work being done before they are willing to release the remaining thirds. These inspections are often associated with a fee to the homeowner that is usually deducted from the insurance settlement. Homeowners that are not in good standing with their mortgage company frequently have slightly different scenarios with their mortgage company. Once the settlement check is sent to the mortgage company with both the public adjuster’s and homeowner’s endorsement, the mortgage company usually holds all the money until a licensed contractor or roofer is retained. At Maximum Insurance Adjusters we’ve seen the mortgage company hold rather small settlement check amounts. One client of ours decided she was so angry about them holding her money until she hired a licensed contractor, that she resolved not to pay her mortgage company anymore payments until they released all of her money. As you can imagine, the mortgage company was not amused, and neither was the client. Now, two years later, the client’s home is being foreclosed and she has yet to see a penny out of the insurance money. The mortgage company is getting the house and the insurance money, while the client and Maximum Insurance Adjusters are still waiting to be paid. However, most homeowners hire a licensed and insured contractor or roofer and submit the signed contract for the repairs. The mortgage company will often disperse the money in the same manner as mentioned before regarding larger sized settlement checks. The best advice we can give you, based on our past experiences, and the situation you presented, is to be as diligent as possible about providing the necessary paperwork and information to the mortgage company. This can help speed up the release of your mother’s insurance settlement money from her mortgage company. Mortgage companies usually request: a licensed and insured roofer or contractor, a signed contract with that roofer or contractor, and a W-9 form from the roofer or contractor. It is extremely important to use a licensed and insured contractor or roofer when doing repairs. At Maximum Insurance Adjusters we are constantly stressing this to our clients. Countless clients have told us horror stories about unlicensed uninsured contractors and roofers, and unfortunately there is little to do about it. Ensuring that your roofer or contractor has a valid license and current liability insurance, and the ability to verify it, can protect you in the long run. Once all of your mother’s home repairs are completed, the mortgage company should release all unused monies from the insurance settlement check(s). If you have any additional questions, please feel free to contact us. At Maximum Insurance Adjusters we are always happy to help.

Submitted by amy from miami

Q: Can I have my insurance broker handle my insurance claim?

Answered 05/05/08 23:27:10 by joseph sabbagh

A: While an agent or broker is well trained in determining what kind of insurance policy you need, they have no training in detailing insurance losses. Your insurance broker or agent is not an adjuster. An adjuster is specifically trained and licensed to adjust, assess, and negotiate claims. Only a public adjuster will work on the policy holder’s behalf exclusively. A public adjuster is retained by the insured to represent him or her and does not get paid unless money is collected from the insurance company. At Maximum Insurance Adjusters, Inc. we have the training, knowledge, and skill necessary to adjust and negotiate your insurance claim. Maximum Insurance Adjusters can handle your claim from start to finish, enabling you to receive the maximum settlement you are entitled to under the terms of your policy. When dealing with an insurance claim it is important to make sure that you have a qualified and well trained professional working on your behalf. At Maximum Insurance Adjusters, Inc. all of our highly skilled public adjusters are licensed and bonded by the state of Florida.

Submitted by tami from miami

Q: Can you tell me what a Public Adjuster is? Thanks.

Answered 05/05/08 23:26:13 by joseph sabbagh

A: A Public Adjuster is an adjuster that represents the policy holder exclusively, not the insurance company. A Public Adjuster is retained by the policy holder to represent you, and your interests, to the insurance company. A Public Adjuster will assess the damage to your property and negotiate the settlement amount with the insurance company’s adjuster. This allows you to maximize the settlement amount and avoid the confusion and frustration of dealing with the insurance company on your own. At Maximum Insurance Adjusters, Inc. our public adjusters have vast knowledge of insurance policies, structural and personal property assessments, repair and replacement costs, and negotiation. All of the public adjusters at Maximum Insurance Adjusters are licensed and bonded by the state of Florida. With Maximum Insurance Adjusters you are almost always guaranteed a higher and quicker settlement. The more thorough and complete the claim, the higher the settlement will be.