We have a special program to help owners get reimbursed by their insurance companies for necessary repairs. Often if you are an owner, whether a private homeowner or a commercial property company, and you have to pay for repairs due to dry rot, when you file a claim with your insurance company, they deny your claim. They tell you, “We don’t cover water damage. We don’t cover construction defects. We don’t cover any of it.”
Some Insurance Companies are Different
We work with a team of insurance attorneys that used to work for large insurance companies. Now these attorneys help builders, developers, and ownership groups deal with the insurance companies. Typically insurance policies are written in such a way that unless you’re an expert, you don’t really know what to look for. The attorney’s job is to find certain clauses like “hidden decay” or “collapse.” If an insurance policy covers hidden decay, for example, the insurance company isn’t going to pay for all new siding or water damage. However, if we remove the siding, and we find hidden damage, like dry rot, that IS covered.
With insurance companies it comes down to them cutting their losses. If the insurance company wants to keep fighting the claim, they have to keep paying their attorneys and their experts. They have to bring in their own contractors to review the claim and they have to bring in their own specialists to review the architecture and the engineering. In the end, the insurance company is going to see that yes, they can save half a million in claims, but they will pay more than that in court fees and related expenses. We’ve had results of helping apartment ownership groups and commercial building owners recover up to 40 to 60% of the cost for repairs from their insurance company.