How to Identify Errors and Omissions in Insurance Estimates

Are you fully aware of what your insurance policy covers? If you ever have to file an insurance claim, it’s essential to closely scrutinize the insurance estimate provided by your insurance company. Although the aim of insurance claims is to make you whole again after a loss, sometimes insurance companies may undervalue your damages, and worse, some losses may be completely left out of the estimate. This is where errors and omission in insurance estimates come into play. In this blog, we’ll explore how to identify errors and omissions in insurance estimates and why you should consider contacting a public claims adjuster in Southwest Florida.

Review your insurance policy

Before you begin reviewing your insurance estimate, review your insurance policy to see what damages it covers. This way, you can have a general understanding of what to expect in a claim. Understanding your policy ensures you're informed about what to expect when filing a claim. In some cases, there could be additional damages or provisions not reflected in your policy that you may be able to claim.

Prepare to review your insurance estimate

It's vital to be prepared when reviewing your insurance estimate. Ensure that your estimate contains all the damages and property you are claiming as losses. Look out for omissions or errors, double-check, and make sure everything is in order. Ensure you keep records of the damage and the information the insurer may need to process your claim.

Scrutinize your insurance estimate

It’s important to review your insurance estimate thoroughly and line-by-line. Check for the proper spelling of items in the estimate, the correct calculation of the cost, accurate removal items that aren't part of the estimate, and other paperwork. Compare the estimate to the damages that occurred to your property to see if the two match. It's not uncommon to find a few discrepancies that could end up saving you some money.

Contact a public claims adjuster

If you notice any severe mistakes or omissions in your insurance estimate, consider hiring a public claims adjuster in Southwest Florida. A public claims adjuster in Southwest Florida will ensure that you receive a fair insurance settlement. Public claims adjusters work independently, and their aim is to work for you and not the insurance company. They are trained to identify errors and omissions in insurance estimates, and they can negotiate an accurate settlement value on your behalf.

Seek the assistance of an attorney

In some cases, insurance companies may refuse to work with you or offer a fair settlement. In this situation, it may be beneficial to contact an attorney. They will guide you through the legal process and help ensure that you receive a fair settlement. Attorneys are knowledgeable and skilled in insurance claims, and they can provide the necessary legal representation if and when the need arises.

Conclusion

Errors and omissions in insurance estimates can leave you under-compensated if you're not careful. It's essential to review your insurance estimate closely and hire a public claims adjuster or attorney when necessary. Knowing what to look for will assist you in identifying mistakes and discrepancies in your insurance estimate. Following the guidelines outlined above will give you leverage when negotiating with your insurance company. At Five Star Claims Adjusting, we believe in transparency, and that is what we stand for. Do not hesitate to contact us if you ever have to file an insurance claim in Southwest Florida.