by Ed Beckmann | Dec 16, 2022 | Insurance Claims, Insurance Claims 101
Insured Minnesota property owners who take their disputed insurance claim to appraisal can recover interest on the award. Appraisal is an out-of-court dispute resolution process comparable to arbitration. In Minnesota, it is the forum to decide the amount and cause of...
by Ed Beckmann | May 28, 2021 | Insurance Claims, Insurance Claims 101
WHAT TO DO WHEN AN INSURANCE COMPANY WILL NOT APPRAISE Insurance companies can be stubborn and refuse to appraise the scope of a loss. In my experience, there are three reasons for this position: The insurer claims no event occurred that could cause damage (i.e., no...
by Ed Beckmann | Mar 30, 2021 | Insurance Claims, Insurance Claims 101
THE DUTY TO MITIGATE Nearly every insurance policy has a duty to mitigate clause. An insured property owner is obligated to mitigate damage before it becomes worse. It is important to understand the principle behind the duty to mitigate and its scope when facing an...
by Ed Beckmann | Feb 28, 2021 | Claim Types, Insurance Claims, Insurance Claims 101
ADDITIONAL OR SUPPLEMENTAL COVERAGES Most property insurance claims are covered by Coverages A-D, which is coverage for buildings, personal property, and alternative living expenses or loss of use. After this tier of coverage are separate coverages often referred to...
by Ed Beckmann | Jan 29, 2021 | Insurance Claims, Insurance Claims 101
HOW APPRAISALS SHOULD UNFOLD The Standard to Enforce Appraisal Awards In a previous post I gave an overview of an insurance appraisal and how it functions. With this post I will describe with a bit more detail the procedural rules for how an appraisal should unfold....
by Ed Beckmann | Dec 31, 2020 | Insurance Claims, Insurance Claims 101
ORDINANCE AND LAW COVERAGE Most insured damage arises from a direct physical or financial loss to property. The main coverage in most policies is for any “loss or damage” arising from an insured event such as fire, hail, water etc. Yet many policies also cover repairs...
