Reminds Residents That Standard Homeowners Policies Do Not Cover Flood Damage; and Flood Insurance Policies Typically Take Effect 30 Days After Purchase
Weather forecasters predict severe storms will hit parts of already fire-impacted California early next year. Insurance Commissioner Dave Jones urges residents to review their insurance coverage regularly, including supplemental policies like flood insurance, and to conduct an inventory to ensure that their home and possessions are properly covered.
"Flooding can occur anywhere," said Commissioner Jones. "I strongly encourage all homeowners to document their possessions before any type of disaster strikes. It's stressful enough to lose your belongings when severe weather hits. But being prepared by having good records, including serial numbers, so you can better replace your possessions can lessen the blow."
Commissioner Jones reminds residents that in California, most standard homeowner's insurance policies do not cover mudslides. Residents are urged to contact their insurers to determine exactly what their current policies will cover and if buying flood insurance is the right option for them. A flood insurance policy typically takes effect 30 days after it is purchased. So with heavy rains predicted in the coming weeks and during the first three months of next year, now is the time to consider your options.
In 1968, Congress created the National Flood Insurance program (NFIP) in response to the rising cost of taxpayer-funded disaster relief for flood victims and the increasing amount of damage caused by floods. According to the Federal Emergency Management Agency (FEMA), flood insurance covers building contents. The cost is determined by several factors, including the region's flood risk, year the structure was built, and type of structure insured (residential versus commercial, single-family versus multiple-family).
FEMA manages the NFIP, which makes federally backed flood insurance available to homeowners, renters, and business owners in communities participating in the NFIP. According to the National Flood Insurance Program, in California, less than 255,000 households are protected by flood insurance, which equates to fewer than 2.5 percent of residents and business owners having flood insurance. To assess your need for flood insurance, go to the California Department of Insurance web site at http://www.insurance.ca.gov/. Additionally, the NFIP offers flood related bulletins and newsletters.
For more information about documenting your possessions or to receive a free home inventory guide, call the California Department of Insurance at 800-927-HELP or visit our web site.
Please visit the Department of Insurance Web site at http://www.insurance.ca.gov/. Non media inquiries should be directed to the Consumer Hotline at 800.927.HELP. Callers from out of state, please dial 213.897.8921. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.
Monday, December 19, 2011
Wednesday, November 30, 2011
Saving on your insurance
United Policyholders is an excellent online resource for insurance consumers and provides some good tips for saving money as we move into the holiday season.
Kim Cary, CPPA
Senior General Adjuster at Quality Claims
Everyone can use some extra money in their pocket during the holiday season. UP always encourages consumers to raise their deductible. Here are a few more tips for saving on your insurance from two members of our Agent/Broker Advisory Board:
Kim Cary, CPPA
Senior General Adjuster at Quality Claims
Saving on your insurance
Everyone can use some extra money in their pocket during the holiday season. UP always encourages consumers to raise their deductible. Here are a few more tips for saving on your insurance from two members of our Agent/Broker Advisory Board:
"Make sure you are taking advantage of "affinity" discounts that may be offered as a member benefit by organizations or associations you belong to."
- Corrin S. Trowbridge, Pacifica, CA.
"Broker fees are typically negotiable. Always inquire if fees are flexible or if one broker fee can be applied to all your policies"
- Ambere St Denis, San Francisco, CA.
- Corrin S. Trowbridge, Pacifica, CA.
"Broker fees are typically negotiable. Always inquire if fees are flexible or if one broker fee can be applied to all your policies"
- Ambere St Denis, San Francisco, CA.
Friday, October 28, 2011
The Great California ShakeOut!
 |
Last week on October 20th, Quality Claims participated in The Great California ShakeOut. Everyone at QCMC dropped, got under cover and held on for the duration of the drill. The Great California ShakeOut is a statewide earthquake drill spanning all 58 California counties and Yuma County, AZ. More than 7.9 million Californians participated in 2010, practicing Drop, Cover, and Hold On and other aspects of family, school, and organizational emergency plans. |
Wednesday, October 19, 2011
Quality Claims Announces Partnership with Docuhome
Homeowners and Renters Now Have No Excuse for Not Documenting their Possessions for their Insurance Policy
“Choosing the best home inventory application before you get started can mean the difference between successfully completing an inventory and never finishing,” adds Mr. Reitz.
SAN DIEGO, CA – October 20, 2011
Quality Claims Management, (http://www.qualityclaims.com) a national leader in Public Insurance Adjusting, today announced that it has entered into a partnership with DocuHome to provide the best possible online home inventory and asset protection services.
Over the years, the Quality Claims team has helped thousands of fire, flood and disaster victims and learned that one of the biggest challenges is a homeowner’s lack of any reliable inventory of their possessions. Following a disaster, insurance companies need a complete and up to date inventory of their policy holder’s possessions in order to fully reimburse them for their loss. However, creating a complete and accurate inventory list AFTER a disaster is nearly impossible.
“We always tell people to prepare their home inventory list before they need it, before a disaster actually strikes,” says Ronald Reitz, President of Quality Claims and First Vice President of NAPIA, the National Association of Public Insurance Adjusters. “However, most people never get around to it. They are too busy, it’s too complicated, or they think they are unlikely to really need it. We have heard every excuse! That is why we have partnered with DocuHome.”
DocuHome is the fastest and most complete home inventory software available. By using any digital camera or even a phone camera, the DocuHome step-by-step process makes creating a home inventory simple. Not only is it easy to use, it is very affordable – about $69 a year!
Homeowners and renters start by taking photos of their home and its contents, room by room. After uploading the photos to their DocuHome account, they use the innovative DocuHome Tagging Inventory Creation Tool to tag the items (furniture, appliances, artwork, toys, electronics) in each photo with information about cost, purchase location, when acquired, and other relevant information about its value. Once the information is securely stored with DocuHome, it is safe and protected from any kind of disaster.
“We are proud to have partnered with Quality Claims Management, recognized nationally as the leader in recovery assistance for disaster victims. Quality Claims Management's unparalleled expertise in policy coverage is critical guidance in DocuHome's mission to help homeowners be prepared if a loss should occur," says Bradford Stanley, Chief Executive Officer of DocuHome. “Not only is DocuHome very secure, as all the information is stored online, the program is easy to use and some have said, fun.”
“Choosing the best home inventory application before you get started can mean the difference between successfully completing an inventory and never finishing,” adds Mr. Reitz.
Thursday, September 1, 2011
Thursday, August 25, 2011
Tenacious P(olicyholder)
... How to get your insurer to cover claim expenses
Listing and valuing damaged or stolen property and negotiating a settlement with your insurer can cost you a lot of time and money. But unless it's a business loss, you'll have to be tenacious to get your insurer to reimburse you for expenses related to documenting (preparing) your claim.
The insurance claim process after a large loss can be a full time job. Countless hours at the loss site, answering questions, making phone calls and dealing with paperwork. If you're self-employed, this means you'll lose income. Time is money. You may need to pay for professional help... an estimator, air quality tester, accountant, public adjuster or an attorney.
Business policies often specifically cover "claim preparation" expenses. If your claim is personal, you'll have to negotiate with the insurance company adjuster to get these expenses covered. Depending on the wording of your policy, you may be able to get them reimbursed under "Additional Living Expense" or similar type of coverage for extra expenses that are incurred due to a loss. Make sure to keep good records and present a clear request in writing that outlines time and money spent preparing your claim.
For more detailed tips, read our newest addition to the UP Claim Help Library: Reimbursement for claim preparation expenses.
Monday, August 1, 2011
What Is the Claims Process for Disaster Victims?
By Ron Reitz
The Five Steps to Recovering Your Life After Your Home and Life Have Been Destroyed
Why use a Public Insurance Adjuster?
1. Read everything carefully before you sign anything. Your insurance company's representatives will first present you with emergency money - for immediate needs and shelter. The second round of payouts is where you need to be careful. Do not sign anything that limits your rights to seek additional proceeds.
2. Find a copy of your insurance policy. If it is destroyed or is not accessible, you should be able to get a full copy of the original insurance policy with all of its endorsements from the agent who sold you the coverage.
3. Make sure your family is safe. Most insurance policies include language that enables you to find a residence similar to your existing one. Find a hotel or rental home close to work or your kids' school that is adequate in size and clean and comfortable. Find a place similar in size and accommodations to your previous residence.
4. Get some professional help. Insurance companies hire and train their adjusters to represent the interests of the insurance company and ultimately, its investors. In many instances those adjusters do a great job helping their policyholders. However, sometimes their adjusters are too keenly focused on the bottom line of the insurance company instead of paying the policyholder what they are rightly due under the terms of their insurance policy. If you have doubts about what your insurance company is telling you, or you are simply do not have enough time and expertise to completely value and settle your claim, contact a professional that will work for you and will only represent your best interests.
5. If you go it alone, go slowly and take your time. The insurance company may pressure you to speed up the process - you may be anxious to put all of this behind you as quickly as possible in order to get back to your life, but you need to resist that urge. In these types of cases, especially with homes that have many improvements and renovations, or with families with lots of possessions, haste definitely makes waste. Take your time and carefully review each and every document before signing anything. If you don't agree with the estimates for repair or replacement provided by your insurance provider, fight back.
Why use a Public Insurance Adjuster.
In many cases, the Public Adjuster is able to get more money from the Insurance Company than you will be able to on your own. Even after deducting the Public Adjuster's small percentage fee (much less than using a lawyer), you will probably still come out ahead.
For most families affected by a disaster, the biggest advantage of using a Public Insurance Adjuster is that they can get back to living their life while a professional handles all of the details. Instead of spending 20 hours or more a week, researching replacement and rebuilding costs, analyzing and completing various forms, and negotiating with insurance company adjusters and restoration experts, the Public Adjuster can do all of that. This means you can get back to your family life. Normalcy and a return to a routine schedule will greatly help you and your family adjust and move on.
For many, the time savings and the emotional satisfaction of having a professional handle the minutiae and painful negotiations is much more important than whatever added funds the adjuster is able to get for them. It's more than just the money.
Why use a Public Insurance Adjuster?
1. Read everything carefully before you sign anything. Your insurance company's representatives will first present you with emergency money - for immediate needs and shelter. The second round of payouts is where you need to be careful. Do not sign anything that limits your rights to seek additional proceeds.
2. Find a copy of your insurance policy. If it is destroyed or is not accessible, you should be able to get a full copy of the original insurance policy with all of its endorsements from the agent who sold you the coverage.
3. Make sure your family is safe. Most insurance policies include language that enables you to find a residence similar to your existing one. Find a hotel or rental home close to work or your kids' school that is adequate in size and clean and comfortable. Find a place similar in size and accommodations to your previous residence.
4. Get some professional help. Insurance companies hire and train their adjusters to represent the interests of the insurance company and ultimately, its investors. In many instances those adjusters do a great job helping their policyholders. However, sometimes their adjusters are too keenly focused on the bottom line of the insurance company instead of paying the policyholder what they are rightly due under the terms of their insurance policy. If you have doubts about what your insurance company is telling you, or you are simply do not have enough time and expertise to completely value and settle your claim, contact a professional that will work for you and will only represent your best interests.
5. If you go it alone, go slowly and take your time. The insurance company may pressure you to speed up the process - you may be anxious to put all of this behind you as quickly as possible in order to get back to your life, but you need to resist that urge. In these types of cases, especially with homes that have many improvements and renovations, or with families with lots of possessions, haste definitely makes waste. Take your time and carefully review each and every document before signing anything. If you don't agree with the estimates for repair or replacement provided by your insurance provider, fight back.
Why use a Public Insurance Adjuster.
In many cases, the Public Adjuster is able to get more money from the Insurance Company than you will be able to on your own. Even after deducting the Public Adjuster's small percentage fee (much less than using a lawyer), you will probably still come out ahead.
For most families affected by a disaster, the biggest advantage of using a Public Insurance Adjuster is that they can get back to living their life while a professional handles all of the details. Instead of spending 20 hours or more a week, researching replacement and rebuilding costs, analyzing and completing various forms, and negotiating with insurance company adjusters and restoration experts, the Public Adjuster can do all of that. This means you can get back to your family life. Normalcy and a return to a routine schedule will greatly help you and your family adjust and move on.
For many, the time savings and the emotional satisfaction of having a professional handle the minutiae and painful negotiations is much more important than whatever added funds the adjuster is able to get for them. It's more than just the money.
Ron Reitz is president of San Diego-based Quality Claims Management Corp., a nationally licensed public insurance adjuster, providing hazard claim recovery services to investors, mortgage servicers, homeowners and businesses. Earlier, he pioneered the national hazard insurance claims business of GMAC-RFC (now GMAC-ResCap). He is the past president of the California Association of Public Insurance Adjusters and currently serves on the board of the National Association of Public Insurance Adjusters. Contact Quality Claims Management at (866) 450-1183 or http://www.qualityclaims.com/.
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