Introduction to Property Claims
Here is how we help you settle property claims.
We give you free online programs that automate the settlement of property loss claims. One of our easy-to-use tools, Adjuster's Desktop, calculates depreciation, salvage value, actual cash value, or replacement cost of personal property and produces a fully itemized report. Another calculator, Loss Estimator, figures building repair costs. Our roof measuring programs show you how to measure various types of roofs and does all of the area calculations for you!
To easily measure flat areas such as walls and floors, just use our handy Flat Area Calculator.
We provide Internet links to online stores that can replace damaged property. The policyholder or adjuster has immediate access to replacement products and prices.
We also offer guidelines for determining coverage. Is the loss due to an insured peril or cause? Do any exclusions apply? Are the policy conditions met? Select the Coverage tab for these.
To help with natural disaster response, we offer commonly useful information such as weather,
breaking news, and emergency services. Look under the Catastrophe tab for these resources
The process of adjusting a property loss begins with verifying coverage. The first activity is meeting with the insured and authorizing any need protection from further damage. The next step is inspect the property and determine the cause of the loss. If a person caused or contributed to the loss, determine subrogation potential. Next, values of the property as well as the amount of damage must be determined. The cost to restore or replace is the basis for valuation. Incidental losses, such as loss of use or business interruption, are also calculated. The liability of the insurer may be less than the losses depending on the terms of the policy. A proof of loss setting for the insurer's liability is presented to the insured. Finally, a settlement is negotiated.
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