Fine Art to one policyholder may not be the same for another. Questions always arise how are my collectibles, fine arts treated in my insurance claim. Below please find an analysis by The National Underwriter Company regarding this issue.
Once it is determined whether an object is a fine art, it must be determined how the property should be insured. There are sixteen named perils, and if one of those does not damage the property, there is no coverage.
There are special limits, most do not apply to true fine arts. Coins have a special limit, as does silverware, gold ware, platinum ware including tea sets, gold silver and platinum, although some may not actually be fine arts.
The best option is to schedule the property into the homeowners policy with the Scheduled Personal Property Endorsement.
It is that time of year here in Arizona, monsoon season is in full swing. Natural disasters are a normal occurrence over the summertime and consumers should be on their toes.
Here is an recent article dated July 12, 2018, released by the Idaho Department of Insurance, making the public aware of unlicensed individuals who are acting as public insurance adjusters for losses from hail storms. Different state, same issue. Public needs to be aware of individuals they hire to represent them with insurance claims.
This article points out an interesting situation that everyone should be aware of.
“Public adjusters often have mutual relationships with contractors, and may even be compensated by contractors who are performing work in conjunction with damages caused by the insured loss; however, any compensation or financial interest must be disclosed by the public adjuster in writing to you as the policyholder”.
AJR has NO “kick-back” relationship with any contractor, roofer, plumber. We do not accept any money from others working on your job. Our number one goal is to maximize your settlement for you, then get paid our percentage from the policyholder. No settlement money is exchanged elsewhere regarding your claim.
It is always best to research anyone you plan to hire for representation with a covered insurance claim. Some good sites that help with research to locate licensed, reputable firms are the Better Business Bureau, The National Association of Public Insurance Adjusters, NAPIA and the Arizona Department of Insurance.
After evacuation and finally being allowed back to your property, you discover you were one of the unlucky ones whose property was damaged.
A fire is one of the most devastating natural disasters anyone can endure. As Public Adjusters, we have comforted and handled many clients like yourself. After the devastation is recognized, its time to start processing your claim and preparing to rebuild your property.
Your first call to a Public Insurance Adjuster can be one of the most important calls you will make. The Public Adjuster’s job is to analyze, estimate, and document your loss. Then, we negotiate your best settlement with the insurance company.
Many people don’t know this industry exists and think, “Oh, my insurance company will take care of me.” What individuals don’t recognize is that the insurance company’s adjuster works to protect their interests. It is in your best interests to have someone professionally representing yours.
Upon calling a Public Adjuster, there should be no charge for a consultation. The Public Adjuster is paid a percentage of the settlement. Generally, 10% is a reasonable charge, though some circumstances warrant a different rate.
AJR Public Adjusters have represented policyholders over the years with fires similar to the devastating ones that have taken properties in the Tinder Fire. Our 30+ years of experience and 21 A+ Arizona Better Business Bureau reviews are two of the reasons to give us a call first to find out how we can help you. Our company is run by husband/wife team of Bruce and Stacy Horowitz, and with other professionals (such as contractors) utilized at our discretion. We act with the idea of putting the best foot forward for insurance negotiations.
Recently we have received many phone calls from insureds who have suffered property claims but are experiencing a situation that is occurring more and more.
Today a call came in and the man mentioned:
He lived in an area where a weather disaster struck months ago. A sales person representing an”adjuster’ rang his doorbell and said he could help him with his roof problem.
He was told that the adjuster would contact him
The adjuster would bring in his “sister” company to write the estimate.
It is recommended the insured use the sister company
This adjuster was going to charge an inflated fee for the services, and also made it known that this fee (25%) was due whether the insured used his contractor or not. When these sister companies complete repair for the property basically this may be considered double dipping, or kickback payments.
You always want to make sure:
The Public Adjuster you hire has a current license in the State.
The Public Adjuster, their firm, has solid real reviews. (Not just Joe Smith “they did a good job”)
The Public Adjuster is charging a fair fee for their services. Typical percentages range from 10 – 15%.
The Public Adjuster may disclose their relationship with other companies they plan to bring in to submit your claim, you may want to use caution when you are made aware of this.
AJR Public Adjusters is an Arizona Licensed Public Insurance Adjuster with over 30+ years representing policyholders with insurance claims.
34% of home clothes dryer fires is failure to clean them.
You think I clean out the lint catcher every time I put a new load in, I am cleaning my dryer. You’d be surprised that is NOT ENOUGH.
No matter how good your dryer vent is connected, lint still collects on the inside of the dryer. (view pictures)
Once a year it is a good idea to have a service technician take apart the machine completely. They take off the front of the dryer, pull out the drum and then can vacuum the inside of all the collected lint.
It may be the best $125 you spend this year. Fire prevention is important and this is a little thought about way to prevent dryer fires.
Given our current Monsoon Season, here are some tips from the Insurance Information Institute regarding preventing water losses to your property. Try to take precautions now to prevent water damage to your property.
Below is an example from a client of AJR who suffered water damage and a picture of the ominous looking clouds we are experiencing in the Valley right now.
Water damage is one of the most common and costly disasters affecting U.S. residences, accounting for billions of dollars in losses to homeowners and renters annually. However, consumers can protect themselves with the right amount and type of insurance coverage.
This may seem like a strange question. It was to us as we have never heard of this problem before.
A client called us with a dilemma. About four weeks ago they had a service come and remove a beehive. The removal company mentioned they should be on the lookout for honey, perhaps that was why the hive was formed.
Our client then noticed about four weeks later, there are stains in his walls and is worried there is honey stored in between his kitchen and garage. He is wondering is this a covered loss under his homeowners policy as it is doing damage to his property?
We took this information to our sources to see if the client is covered and discovered that NO a loss due to this problem is not covered.
Specifically, Insurance Services Office (ISO) Homeowners Policy (HO) excludes birds, rodents or insects and nesting or infestation, or discharge or release of waste products or secretions by animals.
While the ensuing losses not otherwise excluded are covered, since bees live in the hives the leakage of honey is not ensuing, it is a direct loss. THERE IS NO COVERAGE.