Estimates

Shouldn't my insurance company create an estimate for my property?

After your insurer sends an inspector out to inspect your property they are required by law to make the determination of a claim within 30 days. This can be in the form of an estimate for damages, or a letter. At any rate Insurance companies are in business to make money and they have an obligation to their shareholders to profit. So even if they do write you an estimate it will not be for the full amount you are owed under the policy. Depending on their experience level with the type of claim, company policies, and knowledge of construction estimates can vary drastically from adjuster to adjuster or carrier to carrier. 

Shouldn’t my contractor create an estimate for my property?

Contractors can often times write an estimate for repair, but you need to work with your contractor. He will need to make sure he has added everything you have that was damaged. Oftentimes personal property items, receipts paid out, and added living expenses are not included in a contractor's estimate for damages. Especially with water loss and fire claims, it's a good idea to hire a PA to write the estimate so you can recover all parts of the policy not just the damage to the structure. 

In addition to these reasons, there are policy provisions that affect how your estimate should be written. For example, a claim that goes to appraisal is written differently than claims that go through the supplemental process or legal. 

When an insurance company receives an estimate from a contractor and begins to negotiate with them based on that estimate it's very hard to go back and ask them for more money when you realize things were missed. Make sure your contractor has the experience to write a good estimate or hire us to help. 

What if my insurance company writes a low ball estimate?

There are those that work for the insurance companies that write really good estimates no matter how good, however, they are limited by their management. All insurance companies have items the adjuster can write and will be approved and some they won't.

Why should Honor Adjusting Services write my estimate?

Insurance policies are made up of several complex forms. The total amount owed under the policy is greatly affected by these forms. For example, many states have amendatory endorsements added to the policy which adds or removes coverage based on state regulation. 

In Texas, this endorsement adds five thousand dollars to claims for code upgrades. 

Not only do we have 30 plus years of building experience we know the policies and what can be added.