After a disaster, you’re entitled to file an insurance claim to receive coverage or compensation for stolen, damaged, or destroyed property and belongings. After filing a claim, a representative from the insurance company will review your claim, evaluate your loss and produce a rough estimate for your payout.
Unfortunately, many insurance companies offer payouts that are extremely lower than most policyholders expect and may not even cover their loss. Underpaid insurance claims are not an anomaly – they’re a common result after the insurance claim has been filed and processed.
But why do insurers underpay insurance claims and what can you do to get the coverage you need?
You can contact a public insurance adjuster in New Jersey.
Why Insurance Companies Underpay
There are many possible reasons for your underpaid insurance claim. At Crestview Public Adjusters, we have been in this industry for many years and can say that the most likely causes are the following.
Uninformed policyholders.
Most policyholders are not fully informed about their insurance policy, how to appeal denied claims, and all the other rigamarole involved with handling an insurance claim. Knowing this, insurance companies take advantage of policyholders in several different ways.
For example, they draw out the claim process and make it far too difficult for their clients, and they underpay insurance claims because they’re certain policyholders aren’t aware of their rights to refute underpaid claims.
You can prevent this from happening by hiring a public insurance adjuster in New Jersey. A public insurance adjuster will review your insurance policy, explain complicated insurance contracts, and accurately represent you so you get the payout to which you’re entitled.
Insurance companies want to make money.
Even if you trust your insurance provider, keep in mind, insurance companies are not in the business of losing money. As a result, they send out insurance adjusters who are well trained in closing insurance claims as quickly as possible.
With such quick turnarounds, you can guarantee the adjuster didn’t perform a thorough home inspection to properly evaluate damages. In some cases, the adjuster will even neglect to include the underlying cost of your damages.
This results in underpaid insurance claims and policyholders who are stuck with the bill. Don’t try to handle property insurance claims in New Jersey on your own.
Let the experts at Crestview Public Adjusters protect your most important assets and maximize your claim.
Signs You Were Underpaid
It’s unfortunate that policyholders pay so much for their property insurance claim, and in their time of need, the insurer doesn’t come through. Learn how to detect the signs that you have been underpaid. Then, contact our team to work with a public insurance adjuster in New Jersey.
- Rushed inspection: Even if the loss wasn’t severe, it takes a lot of time to inspect your entire home and determine the value of damages. So, if the insurance adjuster did a quick assessment, this is a red flag and an indication of problems to come.
- Missed property damage: The insurance provider is supposed to perform a thorough inspection to calculate the value of your claim. If you noticed the insurance adjuster missed something, your claim will be undervalued. Ultimately, your payout won’t be enough to cover repairs. It’s common for policyholders to unintentionally miss details while filing a property insurance claim – it’s inexcusable if an insurance adjuster does so.
- Low estimate: If the insurance adjuster’s estimate seems low, have an expert evaluate your property to see if their estimate adds up with that of the insurance adjuster. If the insurance adjuster’s value is lower, contact us immediately to handle your property insurance claims in New Jersey.
Maximize Your Insurance Claim.
Preventing an underpaid insurance claim is easy: simply contact Crestview Public Adjusters to handle your property insurance claim from start to finish, or if you didn’t receive the payout you needed.
A public insurance adjuster in New Jersey works on behalf of the policyholder, not the insurance company. With over 50 years of combined real estate experience, our public adjusters have robust knowledge regarding the legality of the insurance claims process.
We are skilled in managing claims, negotiating with insurance companies and can help you secure a higher insurance claim settlement. Contact us today at (866) 909-6923.
