{"id":15427,"date":"2021-06-24T17:02:40","date_gmt":"2021-06-25T00:02:40","guid":{"rendered":"https:\/\/www.rentecdirect.com\/blog\/?p=15427"},"modified":"2021-06-24T17:02:40","modified_gmt":"2021-06-25T00:02:40","slug":"property-claim-adjuster","status":"publish","type":"post","link":"https:\/\/www.rentecdirect.com\/blog\/property-claim-adjuster\/","title":{"rendered":"6 Must-Know Tips for Negotiating With a Property Claim Adjuster"},"content":{"rendered":"

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Suffering a disaster is tragic, but you can successfully lessen financial loss if you know how to negotiate with a property claim adjuster. It is essential to understand that they work for the insurance company, not you.\u00a0<\/span><\/p>\n

Property claim adjusters have the company\u2019s best interest in mind which might not align with yours. They won\u2019t cross the line at displeasing you to the point of having you disenfranchised with the insurance company, but they\u2019ll do their best to keep your settlement as low as they can.<\/span><\/p>\n

Dealing with an insurance adjuster doesn\u2019t have to be stressful. If you learn the tactics used by insurance adjusters, you stand a good chance of a fair settlement offer. You can also avoid having the insurance adjuster deny the claim. You have to know what you are entitled to so you do not inadvertently leave money on the table.<\/span><\/p>\n

With the following six must-know tips for negotiating with a property claim adjuster, you stand the best chance of getting through the process with less stress and better success.\u00a0<\/span><\/p>\n

1. Review Your Policy<\/span><\/h2>\n

A sure-fire way to avoid falling victim to insurance adjuster tricks is to be well-informed about your insurance policy. It is always best to get your facts straight before entering into any negotiation, so be sure to review your policy carefully. You can also avoid inadvertently committing insurance fraud if you understand your policy.<\/span><\/p>\n

Remember that your rental property\u2019s insurance coverage may be very different than your own home\u2019s policy. Read your policy more than once. Take note of the wording. Ensure that you had a firm understanding of what you are and aren\u2019t entitled to receive. One of many property insurance claim adjuster secret tactics is withholding coverage information, hoping you haven\u2019t read your policy.\u00a0<\/span><\/p>\n

To illustrate, after a tree fell on a person\u2019s property, the property claim adjuster included an amount to have the tree removed. He did not offer information that a new tree\u2019s cost could also have been in the claim. The person would have realized that had they more carefully reviewed the policy. Losing out on a higher settlement was a valuable lesson.<\/span><\/p>\n

Another thing to check in your policy is whether you can get compensated expenses for loss of use if your property is not habitable after the disaster. You can use these funds to cover mortgage payments, storage costs, and your own living expenses.\u00a0<\/span><\/p>\n

2. Know Your Rights<\/span><\/h2>\n

An essential part of knowing how to deal with insurance adjusters is realizing you have the right not to take their first offer. Remember, they work for the insurance company, so it\u2019s advantageous for them to give out as little as possible. However, you should let them make the first offer just in case your research has led you to a lower figure.<\/span><\/p>\n

One way to scare an insurance adjuster is to let them realize you are poised to negotiate and know your rights. Work up a settlement amount that you believe you should receive if their first offer isn\u2019t reasonable. Don\u2019t hesitate to challenge their first offer if you can substantiate that it should be higher. You can prove your point by showing them parts of your policy and providing quotes from reliable contractors.<\/span><\/p>\n

Another tip regarding your rights is that you can hire a loss assessor. A <\/span>loss assessor<\/span><\/a> is different from a loss adjuster because they will be working for you, not the insurance company. They aid in substantiating your claim and getting the best settlement possible. If you choose to go this route, it will be up to you to pay their fee or otherwise compensate them for their services.<\/span><\/p>\n

You need to know whether you are entitled to replacement cost or depreciated value for any destroyed household assets. Most people opt for replacement value when obtaining property insurance coverage, but don\u2019t assume that is the case in your situation. Your policy will cover which valuation to use and how to substantiate your claim:<\/span><\/p>\n