Business Interruption help

Due to the current global crisis, companies are now looking to see if someone can offer business interruption claims help. But does their insurance policy cover for it in the first place?

Business interruption insurance is a type of cover that will recuperate any losses of income after disastrous circumstances. Business interruption is one of the most complex insurance claims type. This is partly due to the calculations and certain factors such as a material proviso.

Many people also misunderstand business interruption claims as they believe when they take out standard building insurance it covers you for business interruption however this is not the case, business interruption insurance is almost always sold separately, this has caused some business who need business interruption to be left with no cover at all. So, do you need business interruption insurance?

Do I need Business Interruption Insurance?

There are several factors that determine whether you need this type of cover. It comes down to whether your business will be able to function if the premises were inaccessible.

For example; a freelancing graphic designer who only needs there laptop to work may not need business interruption. This could be because if there were to be a fire or a flood at their place of work. Therefore, they would not have a massive delay until they could work again.

However, a company that needs heavy machinery or equipment to function may be different. As an example, metal fabricators will most likely need business interruption as without their equipment, they couldn’t finish any work. Business interruption insurance covers most type of insured damage events the most common being fire and flood. You can even get business interruption for events such as war, pandemics and theft.

Independent Loss Adjusters Help

Help with business interruption claimsAs business interruption claims are complicated and can be very difficult to handle on your own, I recommend you appoint an independent loss adjuster to manage your claim. Public Loss Adjusters are a nationwide loss adjusting company who work exclusively for policy holders.

They make sure when you make a claim, your final settlement includes everything covered under your policy. They have a highly experienced team of charted accountants and loss adjusters. Public Loss Adjusters work tirelessly to make sure your claim runs as smooth as possible. By minimising the amount of time the claim takes could all the weight off your shoulders.

Business Interruption Claims Help

Not sure if your insurance policy covers business interruption due to the Coronavirus? Public Loss Adjusters offer a free business interruption claims check. All you need to do is visit this link, fill in your details and one of their experts will get back to you.… Read Full Article

Signs of Subsidence

Are You Worried About Signs of Subsidence?

Subsidence is a word that will strike fear into the mind of any property owner. If your property is showing from signs of subsidence, do not panic just yet as there may be help available to you.
If you have spotted signs of subsidence around your property then you must take action before the problem becomes worse. Most home insurance policies will offer cover for subsidence and there are also companies that who are willing to give you a helping hand. This may ensure that your insurer fully compensates you should you need to submit an insurance claim.

If you have spotted signs of subsidence then you must take action before the problem becomes worse. Most home insurance policies will offer cover for subsidence and there are also companies that who are willing to give you a helping hand to ensure that your insurer fully compensate you should you need to submit an insurance claim.

What Exactly is Subsidence?

The short answer, subsidence occurs when the ground below your property becomes unstable causing the foundations to move causing a downward movement of the ground that supports your property.

Many owners of newly built properties make the mistake of thinking that their home is suffering from subsidence because of new cracks that appear shortly after gaining possession. Tell tale signs are usually cracks in plasterboards and is the reason why you are not recommended to decorate straight away.

This is usually nothing to worry about as new buildings and their foundations need a little while to settle down (settlement). In fact, there are very few newly build properties that do actually suffer from subsidence.

What are the Causes of Subsidence?

How do you spot signs of subsidence?One of the main causes of subsidence occurs in the summer due to dry weather. Clay and soil can shrink due to a lack of moisture. In turn, this can lead to downward movement of your property.

Trees and vegetation can also cause subsidence. Not only do you have to worry about large tree roots growing beneath your foundations, they can also absorb the moisture within the clay soil and cause it to shrink.

Leaking and damaged drains can be a real problem and a major cause of subsidence. If a drain is damaged and leaking into the soil below your property, it can wash away any subsoil underneath your foundations.

Finally, if you live in an area where there has been mining activity in the past, your property could have been built above the mine and susceptible to subsidence. This may also be the case if your property was built above a landfill site.

Making a Subsidence Insurance Claim

If you feel that you have identified signs of subsidence around your property you need to act fast in order to limit and prevent further damage. Now may be the time to get in touch with your insurance company and start a subsidence claim.

This can be quite daunting because the chances are you have never had any experience in subsidence claims and will not know what to expect. Your insurer may even ask you to get a few quotes to repair the damage or offer you a settlement figure to put things right.

Help with Subsidence Claims

As you probably aren’t a qualified builder, surveyor or structural engineer you will not know if the settlement that your insurer is offering is enough? DO NOT WORRY because there is help out there. Property Defects are a nationwide company who can manage the whole subsidence claims process on your behalf.

Property Defects are a group of loss adjusters, surveyors and structural engineers who can completely manage your subsidence claim. Once you appoint Property defects they will negotiate with your insurance company to ensure that you receive your full entitlement. If required, they can also recommend reputable building companies who can repair your subsidence damaged property. For more information regarding the services that Property Defects can offer visit their website.… Read Full Article

Loss assessors in Ireland can give you a helping hand when you most need it.

Loss Assessors in Ireland Are There To Help

Why would you seek out the services of loss assessors to assist with a property claim? If your property has been damaged by an insured event such as a fire or flood it can be really traumatic. Not only do you have to deal with a home that could be completely inhabitable, you also have to worry about how much your settlement figure may be and how long it will take to receive it. Luckily there are services out there that can help you get your life back on track.

Did you know that there are loss assessors in Ireland that can take on the responsibility of managing your insurance claim on your behalf? Most people do not know that a service like this is available to them and it can be really helpful.

Do You Just Rely on The Help of Your Insurance Company When You Need it?

Loss assessors can help with your insurance claim after your property has suffered damage from a fire , flood or major water leak.When your insurer is informed that you may have a property related insurance claim they will generally send one of their loss adjusters round to your property to asses then damage. They will then calculate what they think it will cost to repair your property.

This you would think is a perfectly normal process, after all you’ve paid for your insurance policy and now is the time for that policy to do what it is supposed to do, cover the cost of the loss. The only problem with this is that although the insurers loss adjusters may think that they know how much it will cost to put right, you probably have not got a clue if this is correct.

Also, your insurance company is a business who exist primarily to make money and the loss adjuster would usually be employed by your insurer. Now I’m not suggesting that your insurer would intentionally cut costs to save money but who would you know anyway?

Luckily you have the right to appoint someone who can represent you to work on your behalf and ensure that you receive your full entitlement. There are many loss assessors around Ireland who are willing to help. Loss assessors or (public loss adjusters) work on behalf of the public and exist to protect your interests, just like the loss adjuster who is protecting your insurers interests.

Their aim is to ensure that you receive your full entitlement by negotiating with your insurance company on your behalf. They will also constantly keep pestering and pressurising your insurer in order for the possibility of the claim to be settled in a shorter time frame.

How Much Would It Cost To Receive Insurance Claims Management Help?

So how much does it cost to hire a loss assessor in Ireland? Fees for these types of services vary but generally a fee of about 10% of the final settlement figure is more than acceptable. In most cases the fee more than pays for itself due to the difference between what your insurer was willing to settle and what the loss assessor manages to negotiate.

Most loss assessors will not charge you anything upfront and will take their fees from the final settlement figure. It is also interesting to learn that many loss assessors will not charge a fee to their clients at all. Many loss assessors will give you the option to appoint one of their preferred building contractors who will absorb any fee that you may have paid them as an alternative.

If you ever have the traumatic experience of fire, flood or water damage to your property it may be worth looking into employing a loss assessor to help you out. After all, it is your right to do so.… Read Full Article

Independent loss adjusters or insurance appointed?

What I Learned After a Kitchen Fire in my Home

A while back we had a fire in our kitchen. We were absolutely devastated as there was a substantial amount of fire damage to the kitchen and also the hallway. As we were insured, we contacted our insurance company and started the claim process. They sent round one of their loss adjusters to assess the damage and a while later they got in touch with me and recommended a cash offer to settle the insurance claim.

I had a fire in my kitchenNow as a single mother I did not know the first thing about building works, let alone the costs involved to get my home repaired. Once I received the settlement offer, even with my limited knowledge, I thought that it would barely cover the costs of repairs. After speaking to a local builder, he agreed that it would be very tight, if at all possible to complete repairs on that budget. Now I was really worried and was not sure what to do?

The first thing I did was to ask one of my friends for advice as they had suffered from flooding a few years back, so they were in a similar position to myself. They told me that it was pretty standard for an insurance company to send out one of their loss adjusters to assess the damage and make an offer to cover the costs. In their case they also thought that the settlement offer was well below their expectations and it turned out to be exactly true and in the end they were out of pocket once they had organised the repairs.

Now I was getting really worried, after all don’t you pay your insurance company to look after you when the worst happens? That is what they are there for right? I decided to do a bit of research on the internet to find out my options. I was amazed at what I found out and decided to write a review on Public Loss Adjusters.

Independent Loss Adjusters Who Work For The Public?

I learned that you can hire your own independent loss adjusters who can work on your behalf rather than your insurer. I thought to myself, this would be great but the truth is, I just cannot afford to hire a loss adjuster, especially with the extra costs that I am incurring due to having to keep the children occupied and out of the house whist this disaster has unfolded.

  1. The would manage my insurance claim on my behalf for a set fee of 10% plus VAT
  2. The would manage my insurance claim at no cost to me if I agreed to allow them to appoint their recommended building network who would cover their fees on my behalf.

Getting a helping hand from a Public Loss AdjusterI preferred to go with option one but I was worried about covering the fee myself. After a telephone conversation with a friendly representative from the loss adjusting company, he explained that any fees would be taken directly from the final settlement at the end of the insurance claim. Therefore, I wouldn’t have to worry about having to find the money out of my own pocket beforehand.

He also told me that if I agreed to let them manage the claim, they would take over all contact with my insurer and negotiate with them on my behalf. I was told that they are not there to gain me extra money outside of my policy coverage but at the same time they would examine my insurance policy to ensure that I received everything that I was entitled to. For example; they arranged for temporary accommodation as it was covered within my insurance policy.

He went on to tell me that they were members of the Chartered Institute of Loss Adjusters and were licensed to hold client money through the Financial Conduct Authority. I’m not really sure what this meant but it did sound reassuring.

I Was Really Glad I Got Some Help With My Fire Claim

In the end, I decided to give the insurance claims management company a try and was really happy with the result. They sent round one of their loss adjusters to examine the damage and in turn informed my insurance company what they considered it would cost to repair my home.

They continued to negotiate with my insurer until they both came to a figure that they could both agree on. The end result was that my insurer settled the claim with a much higher amount than they had previously offered me, even once my loss adjusters deducted their fee.

In conclusion, I would say that If ever you have to deal with insurance claims I would definitely recommend looking into getting a reputable loss adjusting company to look after your needs. Unfortunately, most people do not know that they are entitled to do so, just like i didn’t.… Read Full Article