Dissolving in histrionics is certainly not the right way to react after your property has been destroyed by a devastating fire, flooding or a natural calamity of enormous proportion. Going over the damaged portions of your property and then restoring them ASAP may prove to be too much of a responsibility when you have to deal with the shock and wellbeing of your loved ones too. It makes sense therefore to pass the onus on to a professional adjuster who will be able to deal with insurance claims in Chicago competently. Contacting your insurance company and answering their queries correctly is yet another way to claim compensation for water damage claim in Skokie & Chicago IL. Allow a professional adjuster to gauge the entire damage and consult with your insurance company in order to help you make good your loss.
Meeting an adjuster from your insurance company indicates that the negotiation for your claim is about to begin. Do not be carried away by emotions though. Check out the procedures involved and handle them to the best of your ability.
Initial Offer– The insurance company will no doubt discuss the pros and cons of your claim at first. Be prepared for an initial settlement that is sure to be considerably less than the amount you had requested. It is not going to help your cause, if you haggle without checking the facts. It is always advisable to contact the best adjuster in the city who can act on your behalf.
Reservation of Rights– Do not be unduly alarmed to receive a ‘reservation of rights’ letter from your insurance company. It is just a convention by which the company is trying to protect itself. While the letter will tell you that the insurance company will reserve its rights not to honor your claim, if the cause of damage was not covered by your policy.
The Amount– While it is necessary to demand a certain amount as part of your settlement, you should be prepared to negotiate with the adjuster. Having a lower amount in mind even as the negotiations go on happens to be a great way to stick to your points. Remember, however, that the figure may have to be tweaked, if you are unable to justify your stand.
Negotiation– Do not accept the very first offer that the insurance adjuster makes though. Try to bargain a bit with and be guided by your own appointed adjuster, if you do not feel that you are equipped to handle the bargaining in a befitting manner.
Upper hand– Put the ball in the insurance adjuster’s court by asking him to justify the abysmally low amount he/she has been offering as settlement. Do note the replies and make a counter offer. Feel free to carry on with the negotiations until an amount considered to be fair by both parties is arrived at.
Written Statement – It is imperative to have the final settlement in writing. You need to send a letter to the concerned insurance company confirming the agreement. Do not forget to mention the amount and state the injuries/damages covered along with a date/period by which you hope to receive the settlement needs to be included as well.
Musick Loss Management, Inc 