Residential Property Insurance Claims
If you suffer a loss to your home it can be more devastating than a large loss to a multi-million dollar commercial loss. This can be a life alter event. Thiis where you and your family live and keep all of your personal keepsakes.
Before buying a policy its very important to ask your agent to explain to you if you are buying an ACV or Actual Cash Value Policy or a Replacement Cost Policy. There is a huge difference when it comes to what you can recover from a loss.
Replacement Cost– The term replacement cost or replacement value refers to the amount that an insurance carrier would have to pay to replace an asset at the present time, according to its current worth.
Actual Cash Value– Actual cash value is the amount equal to the replacement cost minus depreciation of a damaged or stolen property at the time of the loss. It is the actual value for which the property could be sold, which is always less than what it would cost to replace it.
Typical homeowners policy have 4 main coverage’s:
These are just some basic for you to understand. Most policies are 50-100 pages of coverage’s, coverage limit caps, and exclusions. Before buying a homeowners policy make your insurance agent sit down and explain all 50-100 pages. If he is unable to do so then you may want to get a new agent.
Once the loss has occured you have no option but to try and recover as much as possible within the language of the policy and in accordance with Florida Statutes Public Adjusters exist to be your advocate and are experts at property damage claims. Their only purpose is to help the insured recover the maximum amount they can recover to bring them back to pre-loss condition.
Please call and Experienced Public Adjuster today for a free claim review. Let us handle your claim from start to finish so that no mistakes are made during the process that may make it harder to recover what you deserve. Call (407) 212-8669