Monthly Archives: November 2017

Tomato/tomato, potato/patato, insurance agent/insurance adjuster: What’s the difference, right? Well contrary to popular belief more than you may think.  A insurance agent and an insurance adjuster serve very different purposes with-in the insurance industry.

Insurance Agent

A insurance agent is involved before damage occurs. They write policies for customers to protect them against the unexpected events that happen in life. (Flooded basements, fender benders, alligator attacks, you get the picture…) They review an individual’s circumstances (health, car, house, financial status, ect.) and customize coverages based on those items. A good agent should include coverages that you are at risk for, and eliminate items that don’t apply to you. For example: if you live in a flood plain you should probably carry flood insurance in your policy, if you don’t, there’s no reason to pay extra for that coverage. Insurance agents are in place to help supply you with the coverages you need for a price that is practical.  An insurance agent typically will not be involved when a claim is placed; that is when the insurance adjuster comes into the picture.

Insurance Adjuster

A insurance adjuster gets involved once damage has occurred. They are assigned to settle claims with the property owner and a water damage restoration contractor. Insurance adjusters survey the damage, write estimates, and work with the contractor to return the property to pre-loss conditions. In addition, they are also responsible for providing compensation for personal items that were damaged during the occurrence. (If your basement floods I guarantee you are at least losing one Christmas tree, maybe more…) You will often, but not always, see adjusters visit the affected property. (see inside vs. outside adjusters)

To recap, the easiest way to separate the two; agents are there to help protect you from damage, while adjusters are there to help you get compensated to clean up the damage.

NEED HELP WITH WATER DAMAGE? CALL (317) 315-5071

You’ve heard about your insurance deductible, you’ve worried about your deductible, you’ve feared your deductible, but have you ever understood exactly what your deductible is?

Your insurance deductible is the amount of money that you are responsible for when you place an insurance claim. The amount of your deductible varies greatly depending on your insurance policy. We’ve seen customers with deductibles as low and $250, or as high as $15,000.

(Wouldn’t that be a great bit of information to know before you had to deal with a water damage claim?…)

When dealing with water damage the insurance company typically pays the contractor directly for the water mitigation portion. Then they hold the deductible out of the repair check they pay to you the customer. Brace yourself for math…

For example: The insurance adjuster writes a repair estimate for $15,000. Your deductible is $1,000. The adjuster would then release a check to you for $14,000. Total repairs ($15,000) minus deductible ($1,000) equals your repair payment ($14,000).

Once repairs are complete it is up to you to pay your contractor for the withheld amount. It is also common to work out a deal with your contractor in order to save you from having to pay back your deductible.

NOTE: You often have to give something up in order to make this happen. (Replace your carpet with a cheaper material, do the painting yourself, or decided to not replace certain items, ect…)

As I mentioned before, if you don’t know what your deductible is look through your policy or reach out to your insurance agent. Don’t be the guy or gal that learns you have a $5000 limit (see link) with a $2500 deductible when your finished basement is flooded with a foot of water. (You laugh now but we’ve seen it a hundred times.)

NEED HELP WITH WATER DAMAGE? CALL (317) 315-5071

How long does a Water Damage Insurance Claim last?

Good question! If I knew the answer to this I would have psychic powers, and trust me I wish I did know. The reason I don’t know exactly is because each water damage job is different.

Some jobs are very simple, like a small area of wet carpet in a basement. Other jobs are much more complicated, like a toilet overflow in an upstairs bathroom that has been running for multiple weeks and has affected the upstairs, main level, and basement.

Obviously, the severity of the water damage dictates the amount of time it takes a water mitigation contractor to dry out the property, and then complete the appropriate repairs.

Another factor that affects the length of time is the insurance company that is settling the claim. The more claims they’re dealing with, the slower the process becomes. You can image if a hurricane hits Florida, and 75,000 people unexpectedly file a claim, the process as a whole slows way down. Not a good situation…

So you get the point. There are a lot of factors that play into how long a water damage insurance claim lasts, some of which are out of your control.

Having said that if the home owner, insurance adjuster, and water damage contractor generally have good communication; a water damage claim typically takes between 1 and 2 months.

Rough Time Line

A rough time line is: 1 week to dry out the property, 2 to 3 weeks to settle estimates and release funds to the insured, and 1 to 3 weeks to schedule and complete repairs.

I know what you’re thinking, sounds like a blast… Truth be told it takes time to do things the right way, and if you are unfortunate enough to have to deal with water damage, that 1 to 2 months goes faster than you’d think. Scouts honor.

NEED HELP WITH WATER DAMAGE? CALL (317) 315-5071