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Why Do Insurance Companies Underpay Insurance Claims?

Why Do Insurance Companies Underpay Insurance Claims?

Itโ€™s happening again! Insurance companies are shifting the cost onto hardworking insurance policyholders. They are raking in millions and underpaying insurance claims. Homeowners and business owners are being hit with excessive damage fees. And everyone is wondering how to get the appropriate insurance claim settlement.

Currently, 85,508 Hurricane Michael insurance claims have been filed in Bay County, FL. According to a recent Survey by Marshall & Swift/Boeckh, ” 60% of homes are undervalued with regard to insurance, with an average undervaluation of 17% โ€œ Which means, insurance companies have a history of low balling insurance policyholders. So how do you avoid getting lowballed by your insurance company? What do you need to know so that your insurance claim settlement isnโ€™t underpaid? How can a public adjuster help you get the money that you deserve?

Hereโ€™s the insurance claim information that you need to get the right amount of money for you.

5 Reasons Why Insurance Companies Underpay Insurance Claims

Here at Sentry Public Adjusting, our public adjusters have noticed that most claimants received a low insurance claim because:

Lacked Proper Public Adjuster Representation
According to recent studies by the Office of Program Policy Analysis & Government Accountability, claimants that filed an insurance claim with a Public Adjuster secured a 747% higher insurance claim settlement than insureds without a claims adjuster on their side. In essence, this means that you should find a licensed public adjuster that knows how to manage your claim. The benefits of having a Florida certified public adjuster on your side are endless. Not only are public adjuster experts in handling insurance claims, but they also have in-depth knowledge about the legal matters involved with filing an insurance claim. A claims adjuster can also help you review your policy. If thatโ€™s not enough, our licensed public adjusters also work free unless we get money for you. As Floridaโ€™s best public adjusters we believe in helping our customers get the most money for their insurance claim.

Insurance Adjusters Get Paid Based On Quantity Not Quality
Chances are if youโ€™re paying for insurance coverage, youโ€™ve already called your insurance company. But your insurance company doesnโ€™t always have your best interest at heart. Most insurance adjusters are trained to get your insurance claim closed as fast as possible. Therefore, they may not conduct a full home inspection. Which means, your insurance company may โ€œforgetโ€ to add in all of the underlying costs to your home damage. As a result, you end up with an underpaid insurance claim.
But, thereโ€™s good news. You donโ€™t have to settle for an underpaid insurance claim. You can hire a licensed public adjuster to conduct a free home damage estimation. You can also reopen your insurance claim.

Possibly Untrained Insurance Adjuster
Insurance companies donโ€™t always hire the best insurance adjusters. Which means you donโ€™t always receive the best estimate for your home damage. An inexperienced insurance adjuster may not understand what to look for in your home. Not to mention, some insurance adjusters donโ€™t understand the National Flood Insurance Program Policy. Henceforth, you might be missing out on more money than you could imagine. And if thatโ€™s not bad enough. Some public adjusters are not familiar with the software available to adjust claims.

Insurance Companies Underpay Insurance Claims Because Claimants Donโ€™t Know Their Rights
If you’re like most insurance policyholders, you’re probably not an expert in handlingย insurance claim. Therefore, insurance companies take advantage of their clients and underpay their insurance claims. But, you donโ€™t have to settle for an underpaid insurance claim. You can hire a public adjuster and fight for a higher settlement. A licensed public adjuster can help you examine your insurance policy coverage and help you get the money that you deserve.

Insurance Company Uses Bad Faith Tactics
Another reason why you may receive an underpaid insurance claim is bad faith tactics. Insurance companies are in the business of making money not losing money. Therefore, your insurance company will do anything to avoid paying you an insurance claim. They will use a variety of tactics including :
โ€ข Unreasonable depreciation that has no basis for the age and useful life
โ€ข Use outdated and faulty price list in areas where construction prices have increased
โ€ข Use absurd calculations
โ€ข Use an unreasonable basis for the calculation of your business losses
โ€ข Fail to price specialty items correctly

How Do You Avoid Getting An Underpaid Insurance Claim

If youโ€™re serious about getting a fair insurance claim settlement, you should start thinking about hiring a licensed public adjuster. You start thinking about hiring Sentry Public Adjusting. Weโ€™ve seen this happen all too often. Insurance companies get away with underpaying insurance claims because claimants donโ€™t know their rights. At the same time, insurance policyholders may not have the skills or capabilities to manage their claim. As a result, insureds end up getting stuck paying for their damage repairs. If your insurance company is taking advantage of you to contact Sentry Public Adjusting.

We have hired the best public adjusters for you. Each of our public adjusters has been professionally trained to give you superior customer service and returns on your insurance claim. We can help you file your insurance claim, and put together an accurate estimate. We can also help you save money that you would typically have to pay a lawyer to get your insurance claim settled. And if thatโ€™s not enough, we can also help you. Trust us. You wonโ€™t be disappointed. Plus, you owe it to your self to get the money that you deserve. Contact us today at (844) 443-4357