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ARTICLES OF INTEREST Loss in Value / Diminished Value |
Everybody should have the choice to protect and insure his or her home and standard of living. Insurance is a good business concept. Its initial standards were based on trust, responsiveness, loyalty, accountability and responsibility. Insured’s pay their premiums with the expectation of being compensated for unexpected and unintentional losses or damages. It is a contractual agreement. Policyholders feel that they have held up their side of the deal and, understandably, expect the same of their insurance carriers. Unfortunately, today, by the time that the insured needs his/her insurance carrier; their insurance carrier can become an adversary. From the policyholder’s perspective trust is eroded as soon as responsiveness comes packaged in mandated and rigid cost cutting controls – before hearing the insured’s side of the story. The human quotient seems irrelevant and quickly thrown out of the equation. Cost cutting and stone walling are the antithesis of the standards of the original contractual agreement. Once, the initial contract is breached, waste of time, energy and money accelerates at an alarming rate. Several roadblocks derail the process. Often insurance claims adjusters misconstrue whose money it is and where it came from originally. It came from the insured’s premiums paid in good faith. To compensate for damages fairly and accordingly – not for the insurance claim adjuster to feel like every cent is coming from their pocketbook and make decisions accordingly. There are many simple and practical ways of respecting both the insured and the insurance carrier, before unnecessary aggravation, excess spending and acrimony spiral out of control. The insured wants to resume their lifestyle as soon as possible. This is the insurance carrier’s responsibility. I have found, at my years at Patrick King and Associates, that the solutions are not complex concepts – sometimes complicated and challenging – but not brain surgery. Professional Insurance Estimating & Appraisals We have successfully completed, cost effective insurance appraisal clauses process dealing with post loss, additional living expenses, loss of use, home contents loss of value, home loss of value, commercial structure loss of value, commercial contents loss of value, art loss of value, Persian rugs loss of value, historical loss of value, use loss of value, research loss of value, age loss of value, new loss of value, sentimental loss of value, monetary loss of value, associative loss of value, commemorative loss of value, educational loss of value, and rarity. Rory Dempsey is a Professional Insurance Claims Appraiser and Professional Estimator in Skokie IL. We have successfully completed, cost effective insurance appraisal clause process in California , Florida, Indiana, Illinois, Michigan, North Carolina, South Carolina, Louisiana, Mississippi, Tennessee, Texas and Wisconsin. Sincerely, Rory Dempsey 847-679-4747 Back to: Articles |
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Professional Insurance Appraisers & Estimating
e-mail us at: pbking2@sbcglobal.net Patrick B. King & Associates 7326 North Central Park Avenue Skokie, IL 60076 847-679-4747 Ó Copyright Patrick B. King & Associates 2011 |
