Professional Loss Adjusters, Inc.
343 Washington St., Newton, MA 02458
Phone/Cell: 617.932.5192 FAX: 617.932.5194
[email protected] www.proflossadjuster.com
You have just suffered a loss to your income property. In addition to concerns about your tenants, who are entitled to $750 in benefits for fire losses, you also now face the task of preparing and submitting a complicated claim to your insurance company – a task required by your policy. You are also faced with the daunting task of deciding what to do with your property in the aftermath of the loss, be it fire or other peril.
Your insurance policy may involve some or all of these items:
- Replacement cost to restore the property
- Actual Cash Value which is typically Replacement Cost less physical depreciation, but it can also involve market value, depending on the property and the local court decisions at the time of the loss.
- Loss of Rent which may be part of a Business Interruption claim involving some (but not all) of your expenses
- Code Upgrade is the cost to bring the building up to today’s standards. This typically involves electrical, sprinklers, insulation, plumbing, alarm systems, and fixtures.
- Cause of loss depends on the policy form. The cheapest policy only covers a few perils. The best policy covers all risks subject to lots of exclusions.
There are lots of pitfalls in dealing with each of these items. If you are not careful and follow the correct procedures, you may not collect all that you are due under the policy. It is your responsibility as the owner/landlord to prepare and prove your claim in order to collect on your policy.
A Public Adjuster relieves you of time-consuming and difficult issues associated with preparing and filing a claim, so that you can concentrate on other aspects of re-building without having to learn the insurance business on the fly. The result: a prompt and fair settlement.
Professional Loss Adjusters helps in every phase of the claim process, as well as expediting payment. We get better results because we:
• Perform a thorough review and analysis of your insurance policy to determine how it can be used to help you recover from the loss as quickly and economically as possible.
• Assist you in making the critical decisions that will affect you as a result of the loss.
• Advise you how we can integrate the claim with the restoration efforts without disruption to your home or business operations, so that you can focus on recovery.
• Help expedite insurance progress payments.
• Make an on-site analysis of the building damage and prepare a detailed estimate of the cost to reconstruct the property.
• Attend to the detail work of a property and contents claim, and if we are dealing with a n income property loss, we work to prepare a loss of rents and extra expense claim.
• Present and support a detailed and itemized claim package to your insurer.
• Keep you apprised of the status of your claim. Your approval is required before the claim is settled.
• Create an extensive, photographic inventory of the loss for insurance documentation.
• Maintain good relations with your insurance company.
• Secure the best possible settlement in the shortest time frame.
Our service fee represents a small percentage of the claim settlement, and is regulated by the state in which we are working. This is offset by a better settlement than you would be able to obtain on your own.