Do insurance companies make money by paying claims?
No,Insurance companies make a lot of money. They do that by creating a lot of red tape and rules that benefit them. Insurance Claims Are Very Stressful. Most people don’t have a lot of experience dealing with insurance companies. Insurance Companies know this and use that to their advantage.
Insurance Companies have set pricing for all claims. They use a standardized software called Xactimate. This software sets pricing for the clean up, restoration, and personal property. It’s important that a contractor knows how to communicate with the adjuster in their language using their pricing.
Don’t lose money you are entitled to
Insurance companies pay “Cash Value” on claims. They assume that people will take the cash and run. Many times people do. “ Cash Value” is lower than “ Replacement Value”. After the work has been completed, additional documentation is needed to receive the full “ Replacement Value”. If you don’t know this you could be losing money.
May Property Management will handle everything for you. We will make sure your home is brought back to its previous condition. We’ll deal with the adjuster and insurance company. We’ll chase them for everything that should be included. Insurance work is more than just construction, it is project management.