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ARTICLES OF INTEREST Loss in Value / Diminished Value |
Everyone has the choice to protect and insure their standard of living.
90% of people who experience a loss of property contents DO NOT
submit a complete insurance claim. 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 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 claims 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. We have successfully completed Insurance Appraisal Clauses dealing with, additional living expenses, contents value, residential structure value, fine art value, historical value, use value, research value, age value, new value, sentimental value, monetary value associative value, commemorative value, educational value, personal value, and rarity. Professional Insurance Appraisal & Estimating Residential Structure Estimating Commercial Structure Estimating We have successfully completed, cost effective insurance appraisal clauses dealing with, loss of use, insurance contents, loss in value, additional living expenses, residential structure loss in value, commercial structure loss in value, commercial contents loss in value, art loss in value, smoke contaminated clothing loss in value, furs loss in value, loss in value smoke contaminated electronics, historical loss in value, use loss in value, research loss in value, age loss in value, new loss in value, sentimental loss in value , monetary loss in value, associative loss of value, commemorative loss of value, educational loss of value, and rarity. Rory Dempsey is a Professional Claims Appraiser and Professional Estimator in Skokie IL. We have completed cost effective Insurance Appraisal Clause in Florida, California, Indiana, Illinois, Michigan, North Carolina, South Carolina, Louisiana, Mississippi, Tennessee, Texas and Wisconsin. For additional information, please contact: Rory Dempsey 847-679-4747 |
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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 |
