09/23/2021
Hurricane Ida victims: I would like to try to help with answers to some of the most frequently asked insurance questions. First of all, you have the right and obligation to do what is necessary to secure your home and protect it from further damage. Keep all receipts and document any repairs done before the adjuster arrives with photos. The first step in the process after you file your claim is for the field adjuster to come to your home to see the damages. Make sure the field adjuster notes everything that you know of and make sure he does a thorough job of inspecting areas of the home that you cannot access like the roof and attic. Point EVERYTHING out to him that looks like damage to you. Let him investigate further.
After that inspection, the field adjuster will complete his cost estimate report and he will turn that report over to your carrier. This may take 10-14 days, Once the field adjuster turns in his report to the carrier, the carrier will have a desk adjuster review the report and make final decisions on coverage and he/she will then communicate with you about your deductible and payment if the covered costs exceed the deductible. This is only the initial estimate and if you have quotes from contractors that exceed the amounts approved, you can send those quotes to your desk adjuster to request approval for the higher amount. Get more than one quote/bid if you can. This is not an open and shut process; you will be able to communicate with your desk adjuster and negotiate any items that were underestimated. Next in the process is your check. When you have a mortgage, the check is made to you and your mortgage company. So you need to call your mortgage company and ask them what their process is for disbursing that money to you. Depending on the dollar amount of the check/extent of damages, the mortgage company will either ask you to send them the check and endorse the check and send back to you or they may have you endorse it and send it to them and they will disburse the funds to you in draws as you complete the repairs. This is your mortgage company's policy and not in the insurance company's control. Last in the process is something called depreciation holdback. This is an amount of money that was included in the approved settlement, but held out of the initial check. This is how the insurance company is assured that you actually make all the repairs that they paid you for. Once all of the repairs are completed, you need to send invoices and photos to your desk adjuster and request that he/she release your depreciation holdback. As long as the carrier is satisfied that you have evidenced all repairs as completed, they will send that final check to you. Also, please do your homework with contractors. Try to use local contractors that have local references. Ask for certificates of insurance provided by their insurance agent. Do not accept a pre-filled certificate that the contractor has in his truck or clipboard. Insist that the insurance agent send you the certificate directly. Best of luck rebuilding. I hope this information is helpful in your recovery.
