LEARN MORE ABOUT EACH PERIL BY CLICKING ICONS BELOW
|
|
|
WALL of SHAME
|
WATER DAMAGE
Water damage is invasive and very difficult to properly identify and scope. A small leak at a plumbing vent in your roof can become a bulging wall in your home within just a short period of time. Preventive maintenance and prompt inspections after weather events can eliminate half the causes of water damage.
Water damage can be caused by flooding, tornados, fire suppression, broken pipes, improper construction, ice damming, condensation, siding and/or roof leaks, mechanical failure, septic/sewer back-up and more. For this reason it is crucial (just as with hail and wind damage) to isolate the cause/entry point and Date of Loss prior to involving your insurance company. Proper investigation is the key. This includes a thorough inspection using cameras, bright lights, moisture meters and more. Just as with the Perils above, Keystone Building & Restoration will help you through all phases of the restoration process.
Water damage can be caused by flooding, tornados, fire suppression, broken pipes, improper construction, ice damming, condensation, siding and/or roof leaks, mechanical failure, septic/sewer back-up and more. For this reason it is crucial (just as with hail and wind damage) to isolate the cause/entry point and Date of Loss prior to involving your insurance company. Proper investigation is the key. This includes a thorough inspection using cameras, bright lights, moisture meters and more. Just as with the Perils above, Keystone Building & Restoration will help you through all phases of the restoration process.
HURRICANEFor most property owners, hurricanes present no risk at all but for those who live along the Gulf of Mexico or Lower East Coast, hurricane danger is an annual threat that must be taken very seriously. Hurricanes can be as wide as 1000 miles in diameter and generate sustained winds of 200MPH or more. The widespread nature of a hurricane's high winds and storm surge can simultaneously damage hundreds or thousands of properties resulting in an extended "nightmare" for property owners and their communities. For most hurricane victims, normalcy becomes a thing of the past as life is"put on hold" for months or even years in order to address the challenges associated with their loss. Compounding the problem is the historical fact that insurance companies tend to fight to demonstrate that 'Storm Surge' or surface water was the Proximate Cause of the loss rather than the hurricane's high winds. In fact, litigation resulting from hurricane damage far exceeds all other perils combined. Whether damage to one's property is major or minor, the demand for building materials and laborers can slow recovery to a crawl. Property owners can lose their life's savings and even the most financially sound or established businesses can close their doors never to re-open. Just as with fires and tornados, proper planning beforeexperiencing a hurricane is the wisest thing that a property owner can do. Unfortunately, taking the time to properly identify what insurance coverage is available as well as evaluating one's exposure to loss is often not prioritized as highly as it should be. Hurricane Katrina was a "wake up call" for many property owners but in our experience, most property owners do not know where to start. For this reason, we are providing content on this page to help property owners understand the reasons that a policy with the National Flood Insurance Program (NFIP) is generally a good idea. This information is not to be construed as legal advice and is posted for informational purposes only:
The adjusting arm of this insurance company clearly pursued an avenue of denial and delay of settlement even though the policy clearly provides adequate coverage. This makes the claims process painful for the policyholder and creates a effective deterrent for those who expect their insurance company to settle promptly and fairly. It also allows the insurance company to continue reaping the investment benefits of their Operating Income while the settlement process is being dragged out - instead of fulfilling their obligation as trustee of policyholder premiums.
|
|
|
Finding a restoration contractor that works closely with legal counsel is clearly the best avenue for fighting the necessary fight with your insurance company when your energy, emotional capacity, and bank accounts are drained to the point that you don't have the resources to act on your own behalf. Keystone Restoration is a champion for the downtrodden.
We are committed to a 'Just' outcome for our Clients regardless of how difficult the road is to travel. As a Client with fire damage, your greatest challenge is to hold the course and commit to seeing the process through. For more detailed information on fire damage, visit the Residential or Commercial pages on our web site. |
Contents - Actual Cash Value (ACV)Nearly all insurance policies pay only the depreciated value of contents. This poses a huge problem for property owners. Does it seem right to receive a check for $30,000 for your damaged/lost belongings when it will cost $90,000 to replace them? Of course not! Nearly all insurance companies offer a fairly low cost-option to cover the replacement of contents rather than Actual Cash Value.
Pick up the phone and fix your insurance policy RIGHT NOW and make sure you have a "RCV" policy! Also, start documenting the property that you own today. State Farm provides an excellent checklist. They also have an excellent Personal Property Form which you can use for any type of loss. |
Additional Living Expenses (ALE)
Homeowner's Insurance usually lists ALE under Coverage D - Loss of Use. Loss of Use creates problems for property owners. For commercial property, Loss of Use often means loss of income. Sadly, many commercial insurance policies do not properly address this issue. In 2006 a horse ranch in Central Oregon that specializes in riding classes and hosting events experienced substantial damage from hail and wind. The horses were beaten so badly by the hailstones that they could not be ridden for more than two weeks. Repairs to the property also substantially impacted the ranch's business operations. The insurance company paid for repairing the structures on the property but the lost business income could not be recovered. The property owners' insurance agent had put them in a Farm policy instead of a Ranch policy. They had coverage for damaged crops but nothing for Loss of Use! Too bad they didn't grow crops! For a homeowner, ALE means any necessary increases in living expenses incurred by the homeowner so that the household can maintain its normal standard of living. This would cover temporary housing, Laundry & dry cleaning, meals, boarding costs for pets, increased transportation costs (drive further to get to work/school), furniture rental, relocation & storage expenses, telephone & utility installation costs at a temporary residence, etc. This area is often overlooked and causes most claimants substantial financial discomfort. Most insurance companies will pay advances to help with ALE but will not offer - you have to ask. Click HERE for an excellent ALE worksheet.
