Emergency restoration organizations are predominantly run by conscientious professionals who are sympathetic to the plight of their customers. Unfortunately, there are predatory practitioners eager to exploit victims of disaster that are a pitfall to recognize and to avoid. Such behavior is most prevalent when armies of malcontents known as ‘fire chasers’ solicit property owners, often before emergency crews have extinguished the fire.
Water damage insurance claims are among the most frequently reported losses. Coverage depends on policy specifics, including the source of water damage and the duration of exposure. It is incumbent upon property owners to ascertain a thorough understanding of possible liabilities, and available policy options to make informed coverage decisions. Current coverages can be replaced entirely or bolstered by adding addendums that would indemnify against eventualities not currently addressed.
Homeowners insurance provides compensation for events protected under the policy. Covered events can indemnify the policy holder against damage to the home, yard and other structures, personal belonging as well as personal liability if found legally responsible for damage or injury to another. Although homeowner’s insurance is not mandated by law, lenders universally require a policy remain in place for the length of the mortgage to protect the investment. Encumbered properties are subject to force-placed insurance if their policy has lapsed, is cancelled, or has been deemed insufficient. Creditor-placed ‘force’ policies provide rudimentary coverages that protect the mortgagors interests alone and are charged to the mortgagee.
After sustaining damage to your property that the insurance adjuster confirms as covered, the adjuster will then strongly suggest that you use a restoration service from their preferred list of vendors. They may or may not also inform you that you have the right to use a contractor of your choice to perform the repair work. Under the Insurance contract it is clearly outlined that the policy holder is responsible for the outcome of the “claims process”, however insurance companies’ routinely attempt to convince the insured to use an emergency restoration contractor from their vendor program.