Regular Radio Show Guest - Mark Goldwich

Protecting Yourself Against Insurance Disasters

By Mark Goldwich, Gold Star Adjusters, insurance expert and author of ‘Uncovered: What Really Happens After The Storm, Flood, Earthquake or Fire’

 
As the destruction of tornadoes and floods across the country are realized, and especially now with Bertha forming in the Atlantic, here at home property owners are wondering when the next storm will strike. Floridians are already facing higher insurance premiums due to past hurricanes as well as restrictive hurricane coverage.

Based on 20 years of experience as an insurance adjuster, I understand people know enough to carry insurance, but don't know enough about the insurance they carry. That’s why I’ve made it my business to teach property owners how to protect against insurance disasters, which always follow natural disasters.

Most people think about the immediate, physical impact of the catastrophe. I tend to think about the long-term emotional and financial consequences that follow the physical clean-up. Property owners should be aware of how to avoid post-storm trauma, get the most out of the insurance coverage they have, and be ready in the event of any disaster.

 First, if you think of yourself as the insurance company’s “customer” or “client” and believe that certain principles of customer service will guide the relationship, you will almost certainly be disappointed. You may want to be treated as a customer and the insurance company to be accountable, but it doesn’t necessarily work like that.

Often, people leave the claim handling to the insurance company in hopes they will be treated fairly and be paid what they are entitled to under the policy. Many times, though, policyholders are paid only a fraction of what they are owed.

You see, the insurance company adjuster (or the independent adjuster they hire) represents the insurance company. They do not represent you. Only a public adjuster works exclusively for you, the policyholder, to ensure your best interests are served.        

What most people don’t know is that insurance is not an exact science and settlements are subject to interpretation and negotiation. How your claim is interpreted and negotiated can greatly affect the amount of money you receive, or how your property will be restored or replaced. Another little-known fact is that insurance claims can be submitted, or reopened, years after the event, or even after the claim was closed or denied.

To prevent delays, denials and deflections by insurance companies in handling your claim, my first and best advice is simple: consult a professional. But, if you decide to handle a claim yourself or reopen one you think deserves a second look, please consider the following ten “commandments”:

1)            Don’t try to pull one over on your insurance company – be thorough, but honest.

2)            Take note of everything that’s damaged and keep a detailed log of all conversations with your insurance company.

3)            Take pictures – photograph and/or video it all, and be sure to keep copies.

4)            Show the adjuster all the damage and be as thorough as possible.

5)            Remind the adjuster that not all homes are built with the same materials.

6)            Review the adjuster’s estimate in detail, until you understand it completely.

7)            Request a licensed contractor review the insurance company estimate and provide an independent quote.

8)            If the insurance company refuses to pay for anything, demand they explain why – in writing.

9)            Be persistent and don’t give up. Appeal up the chain of command.

10)        Seek professional assistance when needed.                         

When thinking about natural disasters, and how you can protect yourself, don’t restrict your planning to material concerns. Be sure you are mentally prepared. And the best time to prepare is always…now!

For more information, or to schedule an insurance presentation, call Mark Goldwich at 904-704-2200, or visit the website at www.KingOfClaims.com.

 

More Success for Mark:

• I helped a Mandarin family collect over $230,000 more on their claim than their insurance company wanted to pay, saving them from financial ruin.
• I sold 3 orders totaling 70 of my books, UNCOVERED, to a local mortgage lender, Realtor team, and an attorney for them to use as a promotional giveaways to their clients, and I'm currently working on a 300+ book deal with a public adjuster in Louisiana.
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  I got a Southside family over $22,000 more on their claim for fire damage.
• I was featured in a Hurricane Special segment on CBS47 and FOX30 with meteorologist Mike Buresh, who also recommended my book in his blog. 
• I raised over $2,300 for the Muscular Dystrophy Association (a.k.a., Jerry's Kids).