Flood Insurance Claims Settlement
I am no expert on this topic, but have walked through flood insurance claims many times with other homeowners/clients and on my own. The average time that I am telling clients right now is 30-90 days to reach a claims settlement with your insurance company. There will be some back and for between you and them to get the claim where it needs to be (they may miss some things or inaccurately grade some materials). This is where a professional remodeler or builder will be your best friend in helping with flood insurance claims. They can consult with you on what needs to be adjusted or what might be inaccurate. These insurance claims are VERY detailed (30-40 pages sometimes) and can be daunting to look at and review.
Dealing with Adjusters /Insurance
We typically wait on the claim from the NFIP adjuster before doing any work on the claim/bid ourselves. They are required to sketch the home and put together a claim, we usually double check and verify their numbers/quantities and then work from their claim. There is little reason to duplicate the work. With flood insurance claims and disasters of this magnitude, everything is on the table and an open book. You need to work together as a team with your rebuilding professional in order to be a priority to them and to make the process as smooth as possible. This is not the time to penny pinch or second guess professional advice, or else you may find yourself at the bottom of someone’s list. This is a CRITICAL time to establish trust and to choose someone that truly has your best interested in mind. For most folks that have insurance there is not too much to worry about in this department if you choose the right company and develop that trusting relationship – you have insurance and they are going to cover most of the costs. Insurance will require a list of the contents that you are claiming (which you, the homeowner, will be responsible for putting together). They will want/need this list, along with the structure claim/estimate that they put together prior to settling the claim.
