Let's face it - residential large losses are hard. They often involve a lot of money, multiple stakeholders, and a whole lot of feelings. A "large loss" typically refers to significant damage to a property, often requiring extensive repairs or even complete reconstruction. These scenarios are fraught with complications that can delay settlements, increase costs, and create stress for all parties involved. Here, we delve into some of the primary challenges associated with residential large losses. And, how third parties like Zap Consulting can help turn the mountain back into a molehill.
The Problem
Unlike other types of large losses, residential large losses may be particularly challenging for property adjusters due to the following complicating factors:
The Timeline
Residential large losses can often take longer to resolve than smaller residential claims. In cases of widespread fire, water, or hurricane-related damages, residential large losses may involve dozens of electronics and appliances throughout the home, including complicated interconnected systems such as extensive security alarm systems, home automation or smart home systems and equipment, exterior and interior lighting systems, pool control systems and more.
Zap Consulting Pro Tip: To ensure an accurate settlement, the claimed loss event and damages must be thoroughly investigated. Upon receiving a residential large loss, don't delay in contacting experts like Zap Consulting to get a jump start on the damage assessment. Zap Consulting is ready to assist in resolving your next residential large loss quickly and accurately.
Multiple Stakeholders
In addition to the policyholder and insurance carrier, residential large losses often involve additional stakeholders such as service providers, contractors, power companies, and more. Navigating these complex relationships can be tricky as folks are eager to get back to normal. Clear and consistent communication among the parties is essential to ensure a smooth claims process. At Zap Consulting, frequent and helpful communication is a top priority to ensure a timely claim resolution for the carrier and policyholder alike.
Extensive Claim Documentation
Pertinent claim documentation such as repair & replacement invoices, HVAC proposals, original installation schematics and diagrams, and original purchase receipts are helpful tools in investigating a residential large loss. When it comes to large losses, documentation can be extensive - which is great! And, time consuming. Zap Consulting handles all the tedium efficiently and accurately, helping to alleviate adjusters and insureds from the headache.
Zap Consulting Pro Tip: Our in-house team of experts thoroughly reviews all relevant documentation submitted with the claim. We verify the details with the service provider, determine if the proposed pricing is in line with current market value, and determine if the documentation matches the circumstances of the claim. Whether we've completed an on-site inspection or desktop review of the documentation, you can trust keen sets of eyes have done the evaluation thoroughly and accurately.
The Solution
In our over 14 years of serving the property insurance industry, Zap Consulting has assisted more than 200 insurance carriers in resolving residential and commercial claims involving electronics, appliances, and HVAC systems. As an industry leader in the field, you can count on Zap Consulting to help resolve residential large losses quickly and fairly.
As an independent third party, Zap Consulting streamlines the claims process while providing unparalleled customer service. Our skilled field technicians and expert team of analysts contribute to our key offerings:
We identify the cause of loss peril so adjusters can accurately apply coverage evaluations.
We spot fraudulent claims where service providers are unnecessarily proposing to replace equipment that can be repaired, pushing equipment upgrades, and inflating repair and replacement estimates.
We make the claims process easier and faster for adjusters and insureds by not having to contact multiple service providers.
We provide accurate LKQ settlement evaluations which bring the insured back to pre-loss condition.
Residential large losses are hard. But they don't have to be. Contact Zap Consulting today to learn how we can help resolve residential large losses efficiently and accurately.
Ready to work with us? Click the button below to submit your next challenging claim, today.
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