Insurance Claim negotiation

Restoration Enterprise is Your Insurance Claim Negotiation Partner

Insurance Claim FAQ

Q: How long does it take for my insurance claim to be settled?

A: Generally, it can take anywhere from 18-24 months for repair, rebuild, and replacement following a large loss.

Q: What should I do If my payment is not covering repairs?

A: In the event that your payment is not covering repairs, you need to contact your insurance company for a supplemental claim review.

Q: What are the most common problems with insurance?

A: Issues include being underinsured, delays, inadequate settlement offers, difficult adjusters, and difference of opinions over the scope of work, amongst others.

insurance coverage

Q: What is the best practice when claiming insurance?

A: Each restoration claim is a unique case. But there are a few steps to ensure fair coverage, no matter what the circumstances are:
• Keep documents organized and prepared.
• Take detailed notes during all discussions with your insurance and mortgage company.
• Save receipts on personal purchases for repairs.

Q: What if my home was completely destroyed?

A: This depends on your loan situation. Generally, insurance only covers rebuilding your property to its pre-loss state. If you do not wish rebuild and your mortgage is paid, you may receive a smaller settlement. If you do not wish to rebuild and are still paying your mortgage, your mortgage company might require you to rebuild your property due to their own financial interest.

The Insurance Negotiation Process

Dealing with your insurance company while also trying to handle the aftermath of a property disaster is extremely stressful. We realize that many of our clients are not familiar with the insurance claim process. Restoration Enterprise works closely with you, your insurance adjuster, mortgage company, and claims representative to ensure the entire project runs smoothly. We keep a detailed record that is supplemented with photos of the entire restoration process.

File the insurance claim with your insurance provider

Notify Your Mortgage Company of Your Insurance Claim

Receive Your Insurance Claim Check

Process the Check With Your Mortgage Company

Endorsement of Claim

Minor claims may be endorsed completely right away, enabling you to pay for the repairs. This of course depends on the type of loan that you have, and your delinquency status. For such cases of minor damage, this is the last step.

Monitored/Managed Claims

Cases that involve severe property damage usually require moderation from the mortgage company. This helps to protect you from fraudulent contractors by releasing the funds as the repairs progress. There are periodic inspections of the repairs and the checks are continually issued if everything right. Finally, a waiver of lien is provided by the contractor along with the completion certificate. The final check is issued.

Remaining Funds and Your Mortgage(If Applicable)

Your mortgage company is not entitled to take your insurance funds to pay off fees or past due amounts without your permission. You can always instruct them to issue you a check for any remaining balance.

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