First Coast Claim Consultants

09/30/2024

Florida insurance carriers used altered hurricane damage reports, whistleblower says.

Watch this video. This is coming directly from adjusters who work for insurance companies. This is why a Public Adjuster is so important.

Adjusters in Florida say insurance companies altered Hurricane Ian damage reports to underpay homeowners. Whistleblowers detail what they found."60 Minutes" ...

07/17/2024

What would you do with an extra $130 million?

How home insurance companies in Florida sidestep rules meant to prevent excess profits

https://jasongarcia.substack.com/p/how-home-insurance-companies-in-florida?utm_medium=web

A couple of key takeaways

- So, while 2022 may have been tough on Slide Insurance Company itself, it may still have been a very good year for the corporation as a whole. (Representatives for Slide declined to answer questions about the company’s finances — including whether the overall company was profitable in 2022.)
- The financial maneuvering at Slide Insurance illustrates one of the biggest challenges facing everyone from policymakers to policyholders who try to follow the money in Florida’s property insurance market.
- In theory, home insurance companies are tightly regulated by state laws that permit shareholders to earn a reasonable rate of return on their investments — but prohibit them from soaking homeowners for excess profits.
- But in practice, some companies have found ways to sidestep those rules by devising byzantine corporate structures and using internal transactions to move money out of their regulated insurance business and into unregulated affiliates.
State insurance regulators asked for more authority to scrutinize internal transactions — to ensure that companies aren’t paying themselves inflated prices and to put a stop to any potential profit-stripping. But Florida’s Republican-dominated state Legislature refused to give it to them.
- Specifically, in 2023, the state’s Office of Insurance Regulation proposed legislation that would have required property insurers to disclose more details about internal transactions and required regulators to do more rigorous analyses of them. The idea was initially included as part of a larger insurance package filed in the Florida Senate.
- The insurance industry immediately objected. “We have started hearing from all kinds of insurance companies that are…concerned with how this bill will impact them,” Carolyn Johnson, a lobbyist for the Florida Chamber of Commerce, told the Senate’s Banking and Insurance Committee.
- Lawmakers listened. Republican legislative leaders quietly removed that provision from the bill before passing it.

A new financial review by state insurance regulators reveals an elaborate money maze.

07/12/2024

https://www.nerdwallet.com/article/insurance/public-adjuster-insurance

A public insurance adjuster works on your behalf to file insurance claims and negotiate a fair settlement. Here’s when, why and how to hire one.

07/12/2024

A quick read from Nerd Wallet on filing insurance claims.

To get reimbursed quickly after a home insurance claim, communicate with your insurer, take lots of pictures and save all receipts.

07/08/2024

Top 10 Hurricane Preparations

Here are the top 10 preparations you should make in order to keep you and your loved ones safe in the event of a hurricane:

1. Create an emergency plan with evacuation routes, meeting places, and emergency contacts
2. Build an emergency kit with essentials like nonperishable foods, water, first-aid supplies, and batteries
3. Secure important documents and records in a waterproof, portable container
4. Install hurricane shutters, trim trees, and ensure your roof is in good condition
5. Set up a plan for staying in touch with people during and after a hurricane
6. Learn your local evacuation zone and routes
7. Keep your car's gas tank full
8. Withdraw cash in the event machine's power goes down
9. Charge your electronic devices before the hurricane
10. Stay informed through the Florida Public Radio Emergency Network or local news and weather updates

07/02/2024

Not sure if you need help with an insurance claim? Do you really need a Public Adjuster?

Read on for why we work for you!

TALLAHASSEE — Floridians filing a homeowners insurance claim had the lowest chance in the 50 states of getting a check from their insurer in 2022, with more than a third of claims going unpaid.

And last year, those filing claims with two of the state’s largest, healthiest companies — subsidiaries of State Farm and Allstate — had the lowest chance of all.

It’s a surprising finding about some of Florida’s largest insurers.

06/24/2024

Why Hire a Public Adjuster?

​Fair Compensation & Someone “On Your Side” – Public adjusters do not work for the insurance company – they work for you. It is an unfortunate reality that insurance companies have their own interests at heart, which is why they have on-the-payroll insurance experts representing them through each filed claim. Shouldn’t you have professional representation too?

A licensed public adjuster represents you – the policyholder – and will work to obtain the maximum entitlements under your policy. A state analysis of claims paid by Citizens Property Insurance in 2008 and 2009 found that the average payment to policyholders represented by a public adjuster was $22,266, compared to $18,659 paid to those who did not hire public adjusters.

Remember, it is up to you to prove the extent of your loss to the insurance company. Failure to satisfy difficult-to-understand policy requirements could reduce your settlement amount or even cause your claim to be denied. Most people don’t know these things, and it’s easy to see why when a typical insurance policy is dozens of pages long and written in technical, legal terms. A qualified and trained public insurance adjuster whom you trust can help make sure you meet all the policy conditions, document your loss and get your claim paid.
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A Helping Hand During a Difficult Time – If you have just suffered an insured loss resulting from a pipe burst, a fire, hurricane or some other traumatic event, it's probably not the best time to take a crash course on how to properly present an insurance claim. You may be dealing with a multitude of other matters, such as finding housing or an alternate business location, dealing with the emotional trauma of a loss or simply going about your daily responsibilities, like work and family. Licensed public adjusters bring ease of mind by taking on the burden of dealing with the insurance company.

Experience & Resources – Without the expertise and knowledge of the claims process and the insurance industry, consumers are often at a disadvantage when filing on their own. Licensed public adjusters are trained and experienced in damage assessment, and well versed in current laws as they affect insurance losses. A public adjuster has the knowledge and resources to help you through the maze of estimating, documenting, and filing your insurance claims.

Home & Business Owner Insurance Claim Information

06/14/2024

06/14/2024

Hurricane season is upon us. Are you and your family prepared? Please see this excellent guide by JAX Ready. If your home or business ever has an insurance claim, contact First Coast Claims for help navigating the claim.

We represent you, not your insurance company. Let us work for you!