Landlord Your Rental is on Fire!

[Terry J.]

I got my first call that my SFR was on fire possible electrical. The property is free and clear. the insurance policy is cash value for $60k purchased for $14k...no estimate on damages yet.

Any suggestions on what I should look out for? things to do? I was contacted by a public adjuster...good/bad idea?

Red cross helped out tenant...tenant is very pissed had to move after just moved in...requesting more than deposit. She wants moving expenses and return of one month rent money...

Thanks for your insights...

[Marcia Maynard]

Have you heard of ambulance chasers? There are some public insurance adjusters who listen in on fire department radio frequencies, show up at the scene of a fire and then try to convince the property owner to hire their services for a fee or percentage of the claim. Be careful. You may or may not need the services of a public insurance adjuster, but if you do, you should be seeking them out, not the other way around. Check references before signing a contract.

If you are dealing with a reputable insurance company, you generally do not need a Public Adjuster. On the rare chance that you want to pay someone to represent you in filing your claim, then ask your attorney to recommend one. Do NOT just hook up with a stranger who chases fire trucks.