[VIDEO]: Property Insurance Law

An Insurance Policy is Just a Fancy Name for a Contract

 

Transcript

Well, there are two types of claims that involve insurance.  What’s known as a liability claim and is also known as a first party casualty claim. Although we are known to do very well with personal injury claims, what we call third party claims, that is let’s say you’re driving down the road and another car slams into you and unfortunately as a result of that your car is damaged, you may have suffered a physical injury but in those types of cases oftentimes or most times you are not going to start the claim out by bringing a lawsuit against your insurance company. You’re going to be starting off by demanding a sum of money from the other driver’s insurance company. That’s called the third party claim.

We handle that but what my specialty is from being an insurance adjuster for years is handling claims.  For example, homeowner claims, business claims, a business policy claim. Let me give you an example, let’s say that we have a windstorm. A serious windstorm as is known to happen here in Northwest from time to time.  Your house is damaged as a result of that windstorm or let’s say somebody vandalizes your business, you have a fire  or your hot water heater breaks and you come to walk into the building whether it’s a business or your home and that the house is just flooded with water.  

You call your insurance company and the insurance company for whatever reason tells you that the claim is not covered or that you’re only covered for a certain amount. My practice is to ensure that the insurance company pays you whether it’s from a fire, windstorm, earthquake, provided you have the coverage, vandalism, theft, whatever.  

It is my job to make sure the insurance company pays you an adequate sum of money in accordance with its obligations under the insurance policy. What most people don’t realize is an insurance policy is a fancy word book contract.  You have a contract with the insurance company in exchange for your hard-earned premiums, the insurance company promises to pay you in certain circumstances. 

It’s my job to make sure that the circumstances are covered under your policy and ensure that you get paid.

 

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