Hidden Coverages Increase Insurance Payouts in Maine

Hidden Coverages Increase Insurance Payouts in Maine

When was the last time you read your insurance policy? Terms like “stretch coverage,” “actual cash value,” “recoverable depreciation” or “Ordinance and Law” can mean very little to the average person, but can mean a lot in terms of sizable out-of-pocket expenses or money left on the table to an insured facing a building loss. The last thing anyone needs is the added pressure of becoming an expert on insurance terminology when faced with a loss.

Having a Public Adjuster on your side of the table who is as well-versed in the language of insurance policies as the insurance companies (and their adjusters) levels the playing field in any discussion. PLA’s Public Adjusters meticulously document each claim as they review each policy line-by-line to uncover hidden coverages to increase payouts for our clients.

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Why Fire Damage Doesn't Have To Ruin Your Life

Why Fire Damage Doesn't Have To Ruin Your Life

Unfortunately, fire can strike a home or business at almost any time. And, when it does, it can be devastating. Even if no injuries or deaths occur, the loss of one's property and home/business will have a major impact on your life. On top of that, having to deal with the insurance company and advocate for a full and fair settlement can be exhausting.

Here are two instances where Professional Loss Adjusters, a team of public adjusters who work on your behalf—not the insurance company—was called in to help settle a fire insurance claim, and in the end, secured a larger settlement than the home/condo owners could have received on their own.

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The Good News And The Bad News

The Good News And The Bad News

Here, at Professional Loss Adjusters, we are still fighting for homeowners and business owners who suffered property damage in last year's epic ice and snow storms. Insurance companies have been slow to settle and, in many cases, have undervalued the damage. With this in mind, we can never stress enough how important it is to contact us immediately upon discovering a disaster.

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How PLA Helped A New Hampshire Lumber Company Recover

How PLA Helped A New Hampshire Lumber Company Recover

New Hampshire-based Bingham Lumber, which sells reclaimed wood and other wood products, lost its extensive showroom and production facility in a devastating fire. Most of the contents were completely destroyed, which made it challenging to inventory everything that was in the building prior to the fire.

Total losses are harder to adjust than partial losses, because it is difficult to document and to prove what was there. Books and records seldom list all of the building’s items and their values. However, there were a number of factors that helped the company recover quickly from this disaster…

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Going The Extra 2,400 Miles To Adjust An Insurance Loss

Going The Extra 2,400 Miles To Adjust An Insurance Loss

A number of companies offer to go the “extra mile” on behalf of their clients. However, not many offer to go the extra 2,400 miles, as we did on a recent insurance claim. When floods destroyed our client’s main manufacturing plant in Rhode Island, all the equipment was shut down and was in the process of being moved to protect the property from further damage. Consequently, we could not get a good understanding of how each machine worked and of the overall manufacturing process.

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Follow The Money: The Bilking of Superstorm Sandy Victims

Follow The Money: The Bilking of Superstorm Sandy Victims

In early March, 60 Minutes, America’s oldest and most-watched television news magazine, filed a report entitled, “The Storm After The Storm.” Correspondent Sharyn Alfonsi investigated allegations that thousands of homeowners were denied flood insurance claims as a result of the damage brought on by Superstorm Sandy in the fall of 2012.

Now, two-and-a-half years later, we are finding out that thousands of claims still have not been resolved. Even worse, many of the homeowners who suffered losses have been completely cheated out of their claims. How? According to 60 Minutes, “There is evidence that many homeowners were victims of what appears to be wide-scale fraud where original damage reports were later changed to make it look like the damage wasn’t as bad.”

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Marina Bounces Back After Fire With PLA's Help

Marina Bounces Back After Fire With PLA's Help

Early in the morning on Friday, July 26, 2013, The Dockside Restaurant, offices and marine repair center at Brunelle’s Marina in South Hadley, Massachusetts were completely destroyed by a fire that drew firefighters from seven surrounding towns.

The popular restaurant, established in 1959, was a total loss—right in the middle of the busy summer season. Fortunately, the marina did not suffer any damage and, with the help of friends and neighbors, the boats in the attached showroom were saved from the flames. The Lady Bea, the Brunelles’ 53-foot river cruise boat, was also spared.

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Speaking To A National Audience About Business Interruption Claims

Speaking To A National Audience About Business Interruption Claims

Leonard Theran, SPPA, principal of Professional Loss Adjusters, Inc. recently presented to a group of insurance industry professionals from across the country at the First Party Claims Conference (FPCC), which was held in Warwick, Rhode Island. The topic was “Major Business Interruption Cases—Made Simple.” Richard Lewis, Esq., an attorney with Reed Smith, LLP, one of the leading experts in Business lnterruption law in the country, was co-presenter. 

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Hail! Hail! Insurance Damage Claim Estimates Are Here!

Hail! Hail! Insurance Damage Claim Estimates Are Here!

The National Insurance Crime Bureau (NICB) recently reported that insurance claims resulting from hail-storm damage increased 84 percent in 2012 from their 2010 level. In 2010, there were 467,602 hail damage claims filed. That number increased to 689,267 in 2011 and to 861,597 in 2012—an overall increase of 84 percent from 2010 to 2012.

So, just what is hail? Hail is a form of solid precipitation. It consists of balls or irregular lumps of ice, each of which is called a hailstone. Hail is possible within most thunderstorms, as it is produced by cumulonimbi, usually within two nautical miles of a parent storm. Hail formation requires environments of strong, upward motion of air and lowered heights of the freezing level.

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15 Things To Do After A Business Property Loss: A Checklist

15 Things To Do After A Business Property Loss: A Checklist

With the news that Boston officials are allowing business owners to return to their stores and restaurants in the Copley Square crime scene area, the Boston Globe is reporting that many are not sure what they will encounter upon their return. Unaware of the exact nature of the damage, it is certain that many will have suffered a hefty loss to their property and contents as a result of the two bomb blasts on April 15. 

Along with the clean-up and other work required to re-open, business owners are now faced with the task of preparing and submitting a complicated claim to their insurance company, a task required by their insurance policy. What should they do?

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10 Things To Do After A Fire or Flood

10 Things To Do After A Fire or Flood

You have just suffered an emotionally upsetting loss to your property—maybe a fire, a flood, wind damage, water damage or another type of disaster. Large or small, you now face the task of preparing and submitting a detailed claim to your insurance carrier, not only because you need to be compensated for your losses, but because it is required by your insurance policy.

For most people, the preparation of an insurance claim is unfamiliar and rough terrain. What does your policy actual cover? Do you understand the legal terminology and implications within the policy? What does “extended broad form property damage liability” mean? How about “water exclusion endorsement”? What is “business interruption insurance”? What does your policy not cover? At times, the list of questions seems endless, but remember, it is your responsibility to prepare and prove your claim to the insurance company, or your claim will be reduced, or worse...denied.

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Have You Suffered Property Damage? Who Will Protect Your Interests?

Have You Suffered Property Damage? Who Will Protect Your Interests?

You have just suffered an emotionally upsetting loss to your home or business. You now face the task of preparing and submitting a complicated claim to your insurance company—a task required by your policy. For most, the preparation of a property damage insurance claim is unfamiliar and rough terrain: depreciation, replacement cost, actual cash value... At times, the list seems endless, but it is your responsibility to prepare and prove your claim to the insurance company. In order to be successful, you will need to have a thorough understanding of insurance coverages and the adjustment process. Given the scope of the loss you have just suffered, are you prepared to take on this task?

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Extreme Storms and Property Damage Are On The Rise. Here's Why.

Extreme Storms and Property Damage Are On The Rise. Here's Why.

Regardless of whether global warming is or is not the cause of climate change and the recent extremes in weather we have experienced, one thing is for sure: we can expect to see heavier rainfall, heavier snowfall, an increase in the number of severe storms and a greater potential for property damage. Several reports have been released over the past few years that outline the trend toward more severe weather.

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