It is common knowledge that you need special insurance from the federal government to claim flood damage, so you might assume that other “acts of god,” like lightning strikes, are also not covered by standard property insurance. However, in point of fact, most policies do cover lightning damage. It’s a good thing they do: Somewhat surprisingly,…
DetailsLike something out of a horror movie, the ground suddenly opens and swallows people, buildings or vehicles. Sinkholes can develop anywhere water can get into the ground. However, they are more common for certain geological formations, after heavy rains, or where there are old mines or similar human activity. Due to the Karst topography and…
DetailsThe Federal Emergency Management Agency (FEMA) runs the National Flood Insurance Program. Unlike other types of property damage, you cannot get flood insurance through commercial sources because the risk of flood is not conducive to a rate structure that turns a profit. Thus, flood insurance is uniquely unlike other types of property insurance. Additionally, since…
DetailsClient Maria T, had water damage to her home in August of 2012. Her insurance company, who has to remain nameless for liability purposes, sent an adjuster to her home and they offered her about $12,000, after deductible, for her damages. The insurance company called the homeowner to discuss the offer and our client told…
DetailsA common type of residential accident involves falling or dropped objects. This type of accident may lead to property damage or personal injury or both. These two types of insurable loss are typically covered by different policies. This can be confusing for the policyholder who may see it as one accident and not understand how…
DetailsA recent study by the Office of Program Policy Analysis & Government Accountability indicates that while public adjuster representation is associated with longer settlement times, it also leads to higher average payments, sometimes far higher. For example, the OPPAGA study the average compensation for 2005 hurricane claims in Florida were 747% higher when a public adjuster was…
DetailsIf you do not know about homeowners insurance you better know an insurance company agent who does. Your agent must understand what your policy covers, does not cover, and also know which companies play the “post loss” underwriting game. Post loss underwriting has been used by Universal Property and Casualty for the last few years…
DetailsMold damage claims can be a tricky beast to maneuver. Many insurance companies write policies that specifically exclude mold claims or don’t write policies at all in areas that are prone to flood or water damage. Mold can appear for a number of reasons and can make the entire household ill. A leaky or sweating…
DetailsLeaking pipe damage is a common type of claim seen in the insurance claims industry. As a home or business owner, you may have hundreds, even thousands of feet of pipe carrying water from one room to the next consisting of many separate pieces linked together. Whether your structure is old or new, you need…
DetailsWind and rain can wreak havoc on your home, property and personal belongings. Preparation is key to minimize loss in storm-prone areas of the country, and proper insurance coverage and contact information for your carrier should be at the top of your checklist. Contact your carrier while the sun is still shining and find out…
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