Worst Mistakes Commercial Property Owners Multi-Tenant Residential Insurance Inspection Repair TX

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In the last decade, there have been $231 Billion in property damage costs associated with natural disasters. Nearly 80% of these costs have occurred in the last 5 years. The initial damage is often due to disasters completely out of our control. But often costs start to spiral upward due to errors and neglect that are avoidable. That large, total number has contributors on every level. Small property owners as well as large commercial owners can do things to lessen the fiscal damage; avoiding even small mistakes eventually add up.

10 Most Costly Mistakes Property Owners Make...

1. Meeting with the adjuster. Commonly the owner attends or sends someone who is untrained in construction claims adjusting to perform the initial site inspection with the insurance company's representative. This puts the property owner at an instant disadvantage! The likelihood is high that they´ll get a hasty and incomplete scope of work and estimate with an inadequate check. But without knowing what to look for, they won´t realize this until it´s too late.

2. Lack of or poor mitigation. Not preventing further damage from occurring places liability on the insured. It´s your responsibility to get things covered and cleaned up to keep damage from growing and prices from rising.

3. Lack of a proper detailed scope. Focus needs to be from the "property owners best interest" perspective rather than the "insurance company's best interest". A thorough scope of work will include complete documentation of the damages, repair recommendations, lists of materials needed, and time estimate for reconstruction.

4. Submitting wrong scope type. A repair scope not prepared using the Insurance Companies´ metrics and language is not deemed credible. There´s a language here, so get someone who speaks it! It can make a difference in whether or not your claim is accepted or not.

5. Lack of knowledge of ALL allowable parameters. Building codes, zoning issues…what you don´t know can hurt you!

6. Proceeding too quickly. Proceeding too far-too fast will cause issues with expediting the claim and receiving the appropriate payout for the damages incurred. You haven´t really saved any time if your payout was inadequate and you have to try to resubmit.

7. Improper follow-up. Follow-up with correct person and how often is key to getting the best results. This can be its own full-time job! It helps to have someone taking care of this who knows who to call, the key players, and has adequate time to devote to the process.

8. Poor transition from claim resolution to construction. This will impact turnaround time, quality of work, and downtime. You want to minimize the amount of time your business is down. A smooth transition will assist.

9. Missed Collateral damage. Thorough documentation will support any supplemental work and payment by the insurance company. This is critical to consider early on, as no one can know everything that will result ahead of time. Allow for surprises: they´ll happen.

10. Choosing the wrong professional. This can cost you up to 50% of the settlement before any actual repairs are made (e.g. public adjusters, attorneys and contractors). Get it done right the first time and avoid lawsuits, repeated work, and failed hires.

All-Tex Commercial can help you avoid every one of these mistakes. The right team of professionals is with you from the initial inspections, through the claims adjustment and to the final repairs. For more information visit www.alltexcommercial.com or call 866-921-5715.