Be Forewarned

February 22, 2009

Recently our Moore, Oklahoma Office was featured on TV and in news print. (Oklahoma City is a suburb to Moore). It is no secret that there have been some serious weather damage in Oklahoma and insurance claims are on everyone's mind. The news anchor who reported the story to the TV viewing public properly reported that there was no up front cost to retain your own adjuster (us) and featured one of our clients who gave testimony as to her belief that she would not have had a new house had we not been involved. I beamed with pride as my daughter, who is my partner and manages the Oklahoma City Office, admitted that we have a fee. "After all, we are a business", she said. Also, we have learned that, while we want to very much, we can't live on prayer.

We help people. If we didn't believe that we were here to help people we would get burned out really fast. It is not easy dealing with insurance adjusters and claims representatives who have had their supervisors scowl, squint their eyes, and put their big fat fingers in their face telling them to "pay only what you owe and not one penny more."

Insurance companies are required by law to put money in a "reserve" to pay insurance claims that have been filed with the insurer. To put that money in a reserve requires an assessment, which can ultimately be changed, of the amount of the claim. If you are on the fence about hiring your own public insurance adjuster, just ask your insurance company claim representative how much money is put in the "reserve". If he or she gives you a small number, you will know you better back up real fast and get yourself an advocate. If the number is adequate or policy limit, ask them to put it in writing. If they won't tell you, what do you think that means?

At any rate, the TV Station wanted to be "fair and balanced" so they produced an insurance company representative from Allstate who made us howl with laughter as she stated on TV in a gruff voice: "Just be forewarned that the fee for the public adjuster is going to come out of the settlement."

I am still chuckling over that one. Of course it will come out of the settlement. And, while we do not sell increased recovery when we present our services to a potential client, increased recovery happens. We sell a service; we don't sell increased recovery. However, attention to detail, knowledge of policy provisions, familiarity with individual companies, ability to get credible estimates and evaluations, preparation and pricing of personal property inventories, ability to compare one insureds treatment with others we have knowledge about, DOES lead to increased recovery. People take their tax returns to CPA's for a reason. The CPA's provide a service. That service leads to paying the I.R.S. a smaller sum.

That is the way we look at it. You don't just send your documents to the I.R.S and tell them to tell you how much you owe. You tell the I.R.S your number. It works that way with insurance claims. It is an insured's responsibility to tell the insurance company how much is owed. Its right there in the policy: "Duties of Insured After Loss."

Take advantage of that right.