How can we help you rebuild your dream home? We believe in servicing our clients in a way not typically experienced in this industry.
What is an Insurance Claim?
Any loss can be difficult to deal with. Insurance claims can be a long and intimidating process. Many elements of an insurance policy and damage claims are open to interpretation. Adjusters have a considerable amount of discretionary power when it comes to settling claims. Water Nerds will work directly with your insurance company for the claims and billing process.
In the end, our goal is to effectively handle the necessary repairs as well as the restoration. Let us handle your insurance claim from start to finish.
Understanding the Insurance Policy Basics
Insurance company
An insurance company is a business; its objective is to make a profit and provide a service at the same time. To increase or even just maintain a profit, insurance companies are constantly changing the way they do business.
Insurance agents
An insurance agent is the person that sells the homeowner an insurance policy. Agents may represent one single company or they may represent several different companies. They may also represent several types of insurance such as homeowner’s policies, renter’s policies, auto, health, life, and others.
Insurance adjusters
The insurance claims adjuster, also known as the claims representative, only enters the picture when a loss occurs. It is their job to interpret the policy. Adjusters make the final decisions on coverage issues, and determine how much the insurance company will pay towards repairing the loss.
Homeowner’s insurance policy
A homeowner’s insurance policy is a contract between the insurance policy and the homeowner. Both have rights and obligations as part of the contract. It’s important for the homeowner to know and understand what their policy covers and doesn’t cover.
Cash value policy
Cash value homeowner’s policy, also known as a fair market value policy, is one that pays a policyholder at the current depreciated value of the home or the contents. It takes depreciation into account for just about everything that was damaged.
Full replacement policy
A full replacement homeowner’s policy will typically cost more than a cash value homeowner’s policy. If a loss occurs under this policy, all of the damage is covered at full replacement value at today’s market cost.
Sudden and accidental
In most instances, for a loss to be covered it has to be considered to have happened suddenly. It also has to have occurred accidentally, which basically means that you didn’t do it. Sudden and accidental is especially important with losses involving water or losses related to the exterior of the home.
Perils
Within the typical homeowner’s insurance policy are sections on named perils. A peril is something that could conceivably happen to a structure, such as a fire, a broken pipe, or damage from a storm. The insurance company lists or names the perils in the insurance policy. The insurance company is basically saying that if this happens to your house, your covered. If its not on the list, your probably not covered. Covered simply means that the insurance company will pay for all of the damages.
Deductible
Deductible Every homeowner’s insurance policy will have a deductible associated with it. This is the amount of money that the policy holder will have to pay out of pocket. A deductible is a means for the insurance company to limit the number of smaller claims that the policyholder can file.
Profiting from a loss
A basic concept of insurance coverage is that the policy holder cannot profit from the loss. In other words, the policyholder can’t expect the insurance company to pay more than the loss is actually worth at the time the loss occurred.
Depreciation
One way of preventing a policyholder from profiting from a loss is through what is known as depreciation. Depreciation is based on the concept that most things have a useful lifespan, and are therefore worth less after they have been used. It’s perfectly logical but can be confusing when it comes to insurance restoration.
Why Choose Water Nerds?
Water Nerds is a family owned and operated business
We are professionally licensed, insured, and bonded
We have a superior understanding of water, fire, and mold sciences
Building thermodynamics experts
24/7 emergency response
Fast response times
Internal insurance claims team
Internal legal team
Free estimates
We guarantee our work
Clients We Serve
Residential
Commercial
Contractors
Property Managers
Private Business Owners
Educational Institutions
Government
Insurance Industry
No matter what type of insurance policy you have or size of loss, we can help. Water Nerds LLC is a State of Florida Certified Building Contractor which specializes in insurance claims damage. Our goal is to provide cost effective restoration, renovation, remodeling, roofing, and construction solutions for all of our clients in need of disaster recovery services. We focus on high quality construction through the use of various subcontractors which are experts in their associated trades. Contact us for a free estimate today!