Traditionally, fire accidents were used to be one of the most common insurance claims to handle.
Nowadays, fire happens less frequently than before. However, when a fire occurs, it can be quite devasting, with everything inside a building is a total loss.
At the time of loss, it is unusual to have the following different opinions between the Insured Clients and Insurance companies:
- Is the building insuring on “new for old”? Whether depreciation should be deducted for insurance claims?
- Is the repair cost or reinstatement cost reasonable? Are the repair or reinstatement items actually damaged by the fire incident?
- Is the sum insured adequately to cover? If the sum insured is inadequate, how will be the insurance compensation be affected by under-insurance?
- Will financial loss be recoverable under the insurance policy?
As a claimant adjuster, we help the insured clients manage the fire claim process effectively.