Insurers are cautioning consumers to take care in the way they deal with their cases.
Due to recent insurance news that has included a massive increase in the number of water damage scams throughout this year, insurers are now warning their customers to take care to contact their homeowners or business insurers immediately to make sure that all procedures are followed correctly and they can obtain the proper assistance.
In some states, such as Florida, approximately half of all claims have to do with water damage.
The problem is that insurance news is revealing that there are a large number of scams in areas where water damage is common, and it is causing problems to become much worse. It is being discovered that some companies for water reclamation are not as helpful as they seem. There are some forms that need to be signed before areas that experienced a water leak can be dried.
However, the latest insurance news has shown that some of these forms are not as well intended as they should be.
Some of these companies ask customers to sign forms known as Assignment of Rights and Benefits. By adding their signature to these forms, home and business owners can often fall victim to the latest scams in today’s insurance news. The reason is that it gives the water reclamation company the right to file the water damage claim with the insurer, themselves, and then receive the claim payment.
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For this reason, insurers are cautioning consumers to look over the paperwork involved in cleaning up water damage very carefully and be wary of any paperwork that would give the water reclamation company the opportunity to file the claim. They are also being warned about those companies because recent insurance news has indicated that they will often hire their own contractor group and charge an over inflated amount to make the repairs.
This will often result in highly unpleasant insurance news for the homeowner or business owner. This is because a large claim will have been left on the person or business’s insurance history. Furthermore, it takes away the policyholder’s control over the way that the claim is made and what decisions can be made on the way that the claim is processed or handled.