Posts Tagged ‘Damages’
State Your Claim! Detecting, Documenting and Writing Claimable Reports – Part 1
December 2, 2010
State Your Claim! Detecting, Documenting and Writing Claimable Reports – Part 1
Just how good of a Claims Detective are you? Before you jump on that next job, take a moment to review how to make your reports more claimable and your servicers more satisfied. Remember, no matter how good of a Claims Detective you may be, not all damages will be claimable. But by presenting your servicers with detailed, accurate and properly worded reports, you’ll increase their ability to successfully file a claim and recover more dollars.
Seek and Find
When it comes to potential property claims, knowing what to look for is half the battle.So before you begin an investigation, take some time to review the most common claimable perils and the most common non-claimable perils. This will save you time in the long run and produce more claimable files in the future.
Common Claimable Perils:
- Fire or smoke damage
- Water or freeze damage and its source
- Wind or storm
- Vandalism or theft
- Accidental plumbing discharge or overflow
- Lightning or hail
- Explosion
- Falling objects
Common Non-Claimable Perils:
- Inadequate or faulty construction and remodeling
- General wear and tear
- Neglect
- Deferred maintenance or cosmetic repairs
- Damage by pets and insects
- Code upgrades with supporting text
- Structural defects or earth movements (unless covered by specialized policy)
- Seepage
- Flood (unless covered by a flood policy)
- Nuclear hazard
- Mechanical breakdown
The BIG 6 (Top Claimable Perils per HUD):
- Hurricane
- Tornado
- Earthquake
- Flood
- Fire
- Boiler Explosion
For more information on Detecting, Documenting and Writing Claimable Reports, check out this informative Dimont & Associates walk-through video.