«

»

How To Handle Large Fire or Water Loss

Large loss can happen to any homeowner.  This can include large amounts of water damage, large fires, extensive mold damage or natural disasters.  It is good to know what kind of insurance you have before anything unexpected happens to your home.

Fire DamageLarge Fire Loss

“U.S. fire departments responded to an estimated 1,331,500 fires. These fires resulted in 3,120 civilian fire fatalities, 17,720 civilian fire injuries and an estimated $11,593,000,000 in direct property loss.” (National Fire Protection Association Fire Analysis and Research Division)   Because these statistics are so large in many places, great coverage is essential when being a homeowner.

Large Loss

Insurance adjusters will run through the property damage to determine the severity of the problem.  Your insurance will have different procedures depending on the company.  Run through the protocol when you purchase that insurance so you know how to act quickly in times of catastrophe.  Being prepared will always save you time and money.

Large Loss Principle

This means that when property damage or a catastrophe happens, there is a transfer of high severity risks throughout your insurance plan to protect and cover you.  You cannot predict large loss’s, thus never being able to set aside enough for such problems.  Large loss principle allows you to be covered during these times.

Large Loss Adjusters

Large loss adjusters go through many steps to ensure that all information is sent to your insurance company.  In turn, your home and residence can be restored to its original condition quicker.  The insurance adjuster will interview the claimant and any witnesses as well as police and hospital records and personnel.  They will also evaluate the property damage and your claim.  They can determine replacement costs and any depreciation value.

If you have experienced a disaster and would like to hire a restoration company, feel free to explore RestorationMasterFinder to find a restoration company near you!

 

About the author

Luke Armstrong

Expert in emergency fire and water restoration services, fire cleanup and water damage cleanup, mold removal, as well as commercial and residential cleaning services, including carpet, upholstery and furniture cleaning. Contributor to several restoration and cleaning blogs.

More in Property Damage and Insurance
Fire Damage
Property Damage – Insurance Claims & Payments FAQs

The estimate I received from my insurance company is not exactly the same as the restoration contractor's estimate. Why the...

Close