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Sat Jun 27, 2020, 03:16 PM

Help. Ins. Adjuster problem.

House in my neighborhood burned down. In the process, house next door was damaged. Estimates go to about $27k. Insurance adjuster offered $7k.

This is in N.J.

Any thoughts?

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 03:33 PM

1. Refuse the offer.

The neighbor may have to file a lawsuit for damages.

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 03:36 PM

2. Get a lawyer. Hurricane Michael proved how

important that is. Original offers of 30,000 turned into 60,000. They are trying to cheap out. I swear the adjusters get bonuses from insurance companies for this kind of shit.

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 03:36 PM

3. Which insurance co.? Is there a liability claim against the house that burned, or is it the...

damaged house's company?

If the damaged house's company, they could be looking at deductibles, coinsurance, actual vs replacement value, and just generally trying to screw the policyholder. And different states have different laws and rules.

My advice would be to find a public adjuster to handle the claim. Lawyers sometimes do this, but don't always do it well. If you, or whoever, find a decent firm, it will pay for itself many times over-- in money and less stress.

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 04:23 PM

4. Find a way of justifying more than 27K. Have you truly claimed for everything you possibly could?

Then tell them you will demand that higher sum unless they honor the 27K.

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 04:53 PM

5. If they keep giving you crap, tell them....

...about your friendship with the state insurance commissioner. They'll dance your tune.

Or the state Assistant Attorney-General you were friends with in college. After fighting with an insurance company (Allstate) over my car damage for seven weeks, I told the claim handler I was done, my next call was going to be to the Asst AG I was friends with in college. In thirty minutes, I had my settlement--every dime.

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 05:35 PM

6. They always lowball initially to see if you'll take it.

All your neighbors have to say is they want the amount from the estimates or they’ll contact a lawyer and to keep refusing any offer less, the insurance company will eventually give in.

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Response to 3Hotdogs (Original post)

Sat Jun 27, 2020, 05:53 PM

7. Ask him for his numbers justifying that offer.

I was in insurance. If it is lowball don't accept. If he's adamant ask to talk to his boss. The problem you might have without knowing specifics is ratio of coverage versus replacement cost. For instance market value of home is 200,000 but it would cost 500,000 to replace. Ins co. can justify only covering a portion of loss. I could explain further but that is simple version. If you need more PM me.

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