All Forum Posts by: Keith Harris

welcome!  Loads of information and friendly people here!  

How is this still in debate?  

Several members of the company have commented here, including the CEO.  To me, that's impressive for this company to care so much about their reputation.  

Regardless, it seems to me they have fully explained their responsibility to the claims process and have been very up front about this.  There does not appear to be any blame passing, they are simply explaining their responsibility to an insured in the event of a claim, and further explaining that interpretation of the policy is handled by the insurance company, which is standard in the insurance world.  

To me, the complainant here is not being very forthcoming.  He says a "legitimate claim" but what are the facts of the loss?  This sounds to me like he is upset the claim was denied and is trying to get it covered.

Finally, shouldn't this complaint be directed at the insurance carrier?

For the record, I have no connection with anyone on this thread, I'm simply an independent adjuster who is interested in the topic.

First off, I'm sorry this happened to you and it is likely going to be a headache for a bit, that is the nature of the insurance business.  I would like to offer you a different perspective directly from an insurance adjuster.

First thing is you should definitely be calling your insurance company.  Their job is to make you whole, based on your policy.  This is the big thing that a lot of people miss, your policy is what dictates on how repairs are paid (Replacement cost (RCV) vs. actual cash value (ACV)), and not necessarily your adjuster.  Also, as someone who was thrown into handling fire claims with little experience, my best recommendation is to have a contractor present at the inspection.  Your contractor is going to know what needs to be done and will obviously want to do more repairs as they can get paid more.  I am obviously biased, but I would not personally use a public adjuster.  I think having a good contractor and possibly a lawyer would be enough people on your side. 

As far as what it will cost you out of pocket, you should expect to initially pay a deductible.  This sounds like a clear case for subrogation, and if they are successful at subrogating against the contractor, then you will get your deductible refunded to you. 

You should definitely document everything as best you can, too much documentation never hurts.  Also, if your adjuster needs anything from you, try to get it to them as quickly as possible.  Most adjusters are very busy with multiple claims at once, and not having to continually call someone will help everything move along quickly. 

Also, depending on your policy, you should have fair rental value coverage.  This would cover the money lost from rent during the restoration process.  Have your documentation of the average rent ready for the adjuster and they will appreciate it.

Please feel free to PM me with any questions and I will try my best to help you out, good luck!

Thank you all for the welcome!  It's very encouraging to see local investors being so welcoming.  See you all around!

@Dick Rosen, thank you for the welcome and offer!  I am sure as I get closer to making that first deal I will have many questions and may send you a message.

Hi all, I am new to investing but am ready to jump right in.  My wife and I currently live in the Phoenix area and are looking to buy our first duplex or triplex within the next two months.  We are insurance adjusters and travel all over the state, which leaves a lot of time for listening to BP podcasts and learning.  Our goal is to continue buying rental properties and eventually start a property management company.  If anyone in Arizona can point me in the direction of some welcoming groups to join or can give general advise about the state, it would be greatly appreciated!  I look forward to meeting fellow investors in the state.