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...
by Ed Beckmann | Nov 30, 2020 | Insurance Claims, Insurance Claims 101
INSURANCE CLAIM TERMINOLOGY People new to the insurance claim realm often struggle with the terminology. The word adjuster is used within three terms, and while the terms are similar the distinctions are important. Following is a summary of important terms property...
by Ed Beckmann | Sep 30, 2020 | Insurance Claims, Insurance Claims 101
NOTICE AND PREJUDICE Notice Property owners have an obligation to provide notice of a claim soon after loss or damage has occurred. This obligation is found in the insurance policy. It is a contract obligation held by the property owner. Insurance companies can...
