INSURANCE CLAIMS FOR PROPERTY OWNERS:s.sdcpm.com/insuranceclaim

We may file a claim with your insurance company if we believe they may pay for some of the loss you insured (Eg flood)

If the claim if fully or partially denied or you don't think it amount is correct, you may want to consider asking a private insurance adjuster such as ALAN WHITE to contest the denial.

Companies are more likely to handle one larger loss than 2 or 3 small losses without canceling or raising premiums.

Below is advised by an insurance broker.

This is a tricky question to answer and it really depends on the type of claim being made and the circumstance surrounding it. I had a client who was recently canceled for a dog bite claim that paid out about $3,500. I then had another client who had a trampoline (liability) claim where a child was injured and approximately $7,000 was paid out. Ultimately the carrier elected not to cancel the client with the trampoline claim because the client removed the trampoline from the premises. It all really depends on the size, type, and circumstances of the claim.

 

In most cases, the damage is less or slightly more than the deductible and not worth reporting but if you’ve already notified the carrier, it’s difficult to get the carrier to close their file without making payment and then the loss will show your loss history or CLUE report. It’s important to have a good property manager that can be on top of mitigating damages, good relationship with contractors who you know are not going to cover charge you and a good agent to give you the necessary advice to make an informed decision."


An insured can elect to retract the claim and make payment themselves, however, this claim will still show up on their record but it will show closed at $0. I advise my clients to assess the damages and cost of repairs before reporting the claim. Especially if they think the repair costs are going to be close to their deductible amount. This prevents the claim from showing up on their record if they elect to just take care of the repairs themselves.


Property owners can get a copy of their CLUE report showing any insurance claims in the last seven years by using CLUE

The clue pulls from a combination of factors – name, date of birth, social security number, property address, mailing address, etc. It’s not just tied to the property address.