Considerations When Filing A Claim
Insurance companies are no different than any other business; their objective is to be profitable. Being profitable requires 1) increasing and sustaining revenues and 2) keeping costs to a minimum.
As long as you are paying your premiums (revenue to them) you are an “asset”. Once you file a claim (a cost to them) you become a “liability”. It’s that simple.
On the other hand, you are wanting the maximum settlement when filing a claim. After all, you paid all of premiums and you paid them on time, and you just want what you’re entitled to.… not a penny less and not a penny more. Right?
But now we now have competing objectives: You want the maximum amount you’re entitled to, and your insurance company wants to pay the least amount possible…and preferably without you knowing it. That’s the reality. This is a business transaction and it’s all about the money. If you believe otherwise, then you should stop reading right now.
I am not saying that they are wrong to look after their own interests but likewise so should you the policyholder look after yours. Even Scripture says that a person cannot serve two masters. It’s exceedingly difficult for an adjuster to fairly represent their employers’ objectives and yours at the same time. Let’s look at two examples.
Who Should You Trust When Filing A Claim?
It’s tax season right now, so let me ask you this: would you let an IRS agent do your taxes for you? Of course not. He/she has completely different objectives than you. Right?
Or would you walk into court and tell the judge that you would like to use as your attorney, the same attorney that is representing the opposing side of your case? Even if you wanted to do something that foolish the judge would not let you because he knows that it’s a clear and unmistakable conflict of interest.
It’s for this reason that 45 states license and regulate Public Adjusters. The Department of Insurance in each of the 45 states realize that their own citizens need the opportunity to have a level playing field when they are up against people who negotiate insurance claims each and every day, year in and year out.
This is why we at Franklin Property Claims serve as Tennessee Public Adjusters, Kentucky Public Adjusters, Mississippi Public Adjusters, Alabama Appraisers, and Georgia Public Adjusters. If you want to maximize your settlement, consider hiring somebody like us. You won’t regret having a claims professional on your side of the claim who “knows the ropes” and can help you get all the financial benefits you are entitled to.