Do you think that the insurance estimate for a property damage case can be higher than the contractor's estimate? In your dreams bro! That ain't happening in the real world!!!!
The converse is true though.
Insurance estimates always tend to be way lower than contractor's estimates.
However, there can be some cases, of mistake, where the insurance estimate can be higher than the contractor's estimate.
Even if that happens, that can do more harm than good in the longer run.
When Can Insurance Estimate be Higher than Contractor's Estimate
Sometimes when the contractors offer a free estimate for your property's repair, they can give you an estimate that might be far lower than the actual cost of the repairs.
This can cause the insurance estimate to be higher than the contractor's estimate.
The trouble is, contractors never give such estimates in writing. As they are just verbal, these estimates are not legally binding and not admissible in any court of law.
So, if you encounter such a situation, do not get overly happy and ask the contractor to revise their estimate.
With that out of the way, let's see what causes the disparity between the estimates given by the insurance and the contractors.
Insurance Estimate and Contractor's Estimate Not Aligning
In most of the property insurance claims, the estimate given by a contractor for the repair of damaged property is often higher than the insurance company's estimate of the damages.
This happens because of the following reasons:
- In the case of damage to property, the property owner is required to prove the damage to the insurance company.
- The insurance company refers the homeowner to one of their agents for proving the damage.
- As the person or company proving the damages is on the payroll of the insurance company, they tend to create an estimate that is lower than the actual damages.
However you as a homeowner can, and have the right to, stop that from happening. Here's how!
How to Get Rightful Insurance Claim for Property Damage
If you want to get full money for the damages done to your property, you will have to prove two things:
- The damage sustained by your property is actually worth what it really is.
- The insurance policy covers the nature of damage your property has sustained by the cause that caused the damage.
Doing this will require the services of an attorney and a civil engineer. Or, you can go to a public adjuster.
A public adjuster can prove the damages done to your property and can also help you get the settlement faster. They only charge you once the claim has been approved.
If you think they'll burn a hole in you pocket, just remember that they can increase your settlement money by up to 700% of what you can get without the help of a public adjuster (not mentioning the speed with which they can get your claim processed).
ACI Adjustment Group ServicesACI Adjustment group provides assistance with insurance claim investigation in storm, fire, water damage, and all other common insurance claims. The services we provide include:
- Insurance policy review to help you understand the terms and conditions of your insurance policy.
- Evaluating damages that are covered under your insurance policy.
- Proving the damages done to your property so that you get claim money according to the damage.
- Following up with your insurance claim process to get it processed fast.