As claims season is upon us it is important to be on the lookout for those wishing to take advantage of your situation. Always read the fine print when being asked to sign any document by those seeking to “assist” you with your insurance claim. While many third-party players may have the best of intentions, many others are simply looking to profit from your plight. You may think your signing a contract to simply have a contractor fix your damaged property, when in all actuality, you may be signing over your rights under the insurance policy.

Public Adjusters: Public adjusters can assist you with processing your claim, however, they do not work for free. They will charge between 10%-30% of the total value of your claim for their services. While Public Adjusters might help with assisting on large complex losses, most of the time their services are not necessary. Remember, if you’re paying a public adjuster 30%, that money is coming out of the funds you need to fix your house or replace your damaged property.

AOB: Assignment of Benefits. Some contractors will ask you to sign a form referred to as an Assignment of Benefits. It is important that you read the fine print on any document you sign as often times, the AOB language is hidden in details. When you sign an AOB, you are signing over your rights under the policy to the contractor. Once you sign on the dotted line, the contractor no longer has your best interest in mind, they simply want to get the cost of the claim as high as possible to help line their pockets with extra cash. In most claims where an AOB is involved the contractor will drag the claims process out for months in an effort to get what they want. All the while your home sits there in need of repair. BE CAREFUL WHAT YOU SIGN!

If you have any questions regarding your policy, please contact us at 855-307-8652.