Property Insurance Roundtable

Hail can cause hard to see dents and fissures in and around your property or home. A regular inspection schedule can help you, the policyholder, to ensure your claim is filed in an appropriate amount of time and that small damages are not overlooked. Professionals such as public adjusters are available to you when hail damage occurs and they are able to assist you in filing your claim. This episode has real advice from real people in the business of adjusting. Listen in to get your hail damage questions answered. For further information on this topic, please read our corresponding Adjusting Today article: "Hail Damage Can Create Difficult Losses" Key Takeaways: [1:10] Why is hail damage so difficult to detect on a property? [3:57] The definition of cosmetic damage in insurance terms and how it relates to hail damage [5:53] Why is hail damage on the surface a cosmetic issue rather than a functionality issue? [9:15] If hail storms happen frequently, will replacing a roof stop the damage? [10:11] Defining ISO a

Policyholders may not realize the benefits of hiring a public adjuster until they understand the complexities and time required to prove and file an insurance claim. Disaster claims are a difficult type of claim to handle for commercial business owners whose core business is not insurance. Understanding ambiguous policy terminology of individual insurance providers and applying them to a claim are both solid reasons to hire a public adjuster. Public adjusters work for your business to maximize your claim in the event of a disaster.  For further information on this topic, please read our corresponding Adjusting Today article: "Expecting the Unexpected Part of the Unexpected." Show Notes: Actual Cash Value (ACV): The value of property immediately before loss taking into account its "used" condition, wear & tear, etc.; usually considered the "depreciated value" although "market value" and obsolescence may sometimes also be taken into account. Replacement Cost: The cost to replace lost or damaged property

Our flood insurance industry experts answer your flood insurance questions.  This roundtable will help you understand which types of damages will be covered and excluded by flood insurance coverage. Replacement cost value and actual replacement value are discussed in length to prepare you for acquiring new policies as well as updating your existing ones. It is recommended you understand all aspects of your policy provisions. For further information on this topic, please read our corresponding Adjusting Today article: "Flood: Understanding and Recovering From One of Nature's Worst Disasters."   Key Takeaways: [:58] What is the National Flood Insurance Program (NFIP) and why is it necessary to hold one of these policies? [2:05] If a community does not have a floodplain management plan, can a policyholder still purchase flood insurance? [3:00] Will the Federal Emergency Management Agency (FEMA) help in my recovery from a large flood disaster? [4:14] What are the guidelines for a flood insurance claim with the N

Our panelists agree - most business owners don’t completely understand the Business Income Coverage or coinsurance provisions within their policies. This discussion provides insights to navigating policies before you need to file a claim, the CP30 and what options you may have if not satisfied with the settlement offered from your insurance provider. If contacted during the policy buying decision process, a public insurance adjuster can help your business to get the proper coverage. For further information on this topic, please read our Adjusting Today article: "Business Income Insurance: Having and Understanding This Coverage Can Be Essential to a Company's Survival."   Key Takeaways: [:35] Introducing the panelists [1:04] Why is it so imperative commercial policyholders have adequate Business Income Coverage? [4:02] How is the correct amount of business coverage calculated? [7:54] How does coinsurance come into play when calculating Business Income claims? [12:48] What responsibility does the insured have

We assembled four industry panelists to answer these very important insurance coverage questions. This information is intended to assist policyholders by clearing up common misnomers, gauge proper coverages and finding the right broker. Remember, it’s important to read the contract language thoroughly and understand which policies cover which assets to make sure you are reimbursed properly in the event of a loss. For further information on this topic, please read our corresponding Adjusting Today article: "Coinsurance/Insurance to Value Revisited: An Essential Concept in Property Insurance."   Key Takeaways: [:35] Introducing the panelists [1:08] What is coinsurance? [4:46] Why would coinsurance be included in a policy? [9:04] What challenges do policyholders face when filing an insurance claim on policies including coinsurance? [17:00] What role does the deductible play in calculating coinsurance penalties? [20:56] What can policyholders do to ensure their policy coverage is adequate? [37:54] What options d