Why You Can’t Handle Your Hotel Insurance Claim On Your Own
Hotel insurance claim always involves a lot of money, so getting appropriate compensation is virtually a battle. Your insurance provider will leave no stone unturned to reduce your claim, undervalue your claim or even deny it totally. This is why it is a must for an experienced public adjuster to handle your hotel insurance claim.
You need to understand one thing, once you begin the process wrongly, you may find it difficult to correct even if you try to correct it since your insurance provider will be out to look for holes in your hotel insurance claim. For instance, if there is a particular part of the total loss that you left out inadvertently, including it later may render the whole claim invalid.
Don’t forget that they will definitely come to assess the situation in your property. They will give you the impression that they are coming to verify your claim but what they are actually looking for is false claims, exaggerations and inflation of figures in your claim. And when they see one, they will definitely capitalize on it.
Important tips to follow
There is a reason only a very few hotel insurance claim settlements do not involve litigation. In addition to hiring an experienced public adjuster, you should follow the tips below.
Take the time to analyze your policy to be able to take the most advantage of your coverage. Sometimes if you undervalue your loss out of ignorance, your insurance provider will take advantage of it by rushing to settle your claims to close it up.
Take the time to inspect the damage. It is a good idea to allow an expert to value the loss for you. Prices of products in the market do not remain the same for a long time, so you might need to get current cost of all damaged items. To assist you in this process, some public adjusters have a computerized platform that can help you with the estimate.
You should notify your insurance company of your loss as soon as possible and get back to them with the appropriate documentation.
Fix appointments with the staff of your insurance company because they must come. You should also prepare for subtle cross-examination. You will definitely be asked several questions directly and indirectly. This is an area your public adjuster should handle.
Your public adjuster should be able to negotiate with your insurance company to reach a fair and equitable settlement. You might as well prepare a list of construction contractors that can handle the reconstruction. You insurance company may ask for it.
Another reason you should let an experienced public adjuster handle it, is they are usually ready for litigation and they have contacts of competent attorneys. When it comes to this kind of insurance claim, you should not be surprised if requires a law suit to get your appropriate claim.
A lot of people usually forget to include delay in claim settlement as a major part of their loss. It is a way to put your insurance company under pressure during litigation. Let them know how much you lose each day that you don’t operate. And link it to the delay of your insurance company in making settlement. This is very important if litigation is involved.
To cap it all up, your choice of public adjuster could make or mar your insurance claim. You could handle other insurance claims on your own and succeed but handling the claim for your damaged hotel all by yourself is nothing but a suicide mission. Your insurance provider will definitely put up a fight.
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