This claim settlement study involves a 4-unit commercial apartment building in Fort Lauderdale, Florida that sustained water damage from a burst water heater.
The owner of the property was based out of New York, and at the recommendation of his local property manager, Claims Aid Consultants Public Adjusters was hired to help settle his underpaid water damage claim.
When the claim was initially filed by the owner, he claimed interior water damage to two units that was caused by a burst water heater in the upstairs unit.
The owner received a $26,600 settlement check from his insurance company for the property loss, however, the amount he collected wasn’t adequate to complete all the necessary repairs to the damaged units.
Upon inspection of the property and review of the insurance company’s estimate and payment, it was clear that our client had been grossly underpaid for the reported water damage.
Fortunately, the downstairs tenant recorded a video documenting the amount of water that entered her unit from the burst water heater, which was substantial. This video was vital to our argument in requesting the additional funds needed to properly repair the damages sustained to both units.
After producing additional evidence and an accurate estimate of the damages, Claims Aid Consultants Public Adjusters were able to obtain a final settlement of $64,430 for our client! A net increase of $33,788 allowing him to complete all the necessary repairs to both units.
The above is not an unusual situation involving an underpaid water damage claim.
In fact, it is a common occurrence in the world of public insurance adjusting. It is the reason why hiring a public adjuster is essential to your success in recovering all the funds you are entitled to so you can properly repair your property after a loss.
If you are a property manager, homeowner or business owner, and it has not been more than 3 years since a a claim was filed for water damage to your property, or if you were unfairly denied by your insurance company, contact us today for a FREE, no obligation claim evaluation at 1-800-GET PAID.