Acclaim Adjustment, Inc.

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Property Loss Adjusting:

Multi-Family Housing

Insurance Policy Analysis

  • Acclaim Adjustment will analyze your insurance policy in order to determine its advantageous provisions and its disadvantageous exclusions, endorsements and/or clauses as they relate to your damages and loss.
  • We will explain our analysis so that you will understand how the different applications of your insurance policy will affect your insurance recovery.
  • We will also analyze any other pertinent documentation in order to determine what, if any, affect they will have on your claim. These documents could include leases, bills of sale, management agreements, homeowner association by-laws, warranties, etc.

    • Arrange Advance

  • Acclaim Adjustment will request and file any documentation needed to arrange for an advance of funds from your insurance carrier. This will enable you to establish a “disaster fund” and help you manage the expenses and various costs associated with your claim.
  • We will contact your insurance company and, in a preliminary report, explain and document the extent of damages in order to establish a reserve.
  • Advance payments will be made against the physical damages sustained and will be deducted from the final settlement figures.

    • Claims Management

    • Acclaim Adjustment will relieve you of the burdens of the claims process. This will allow you to focus on your immediate needs and expedite your return to a normal, daily business routine. For example, while you are establishing a temporary location to resume business we will be meeting with your insurance carrier to initiate the claims process and establish a reserve for your loss.
    • We will adhere to all provisions of your insurance policy and show you how to best mitigate the loss, secure the premises and protect yourself from incurring any additional damages.
    • With our vast experience in managing disaster situations, we will work with you to establish a short term solution and a long term reconstruction or rebuilding plan that is best suited to your situation and the goals of your business.
    • We will discuss the different options for demolition and establish a controlled access plan for the claims estimating with your insurance company’s representatives.

    Damage Estimates to Structure

  • Acclaim Adjustment will survey the structural damage and prepare a room by room damage estimate based upon our professional review of your insurance policy.
  • We will perform a comprehensive test for asbestos and lead components to ensure a legal demolition and protect your liability.
  • The estimate will include the scope of repairs and the costs for repair or replacement, with descriptions, diagrams and photos of the damage.
  • We will also include a complete trade breakdown showing how much was estimated for each individual trade, i.e. electrical, plumbing, roofing, etc..
  • Our estimate will be presented in the form most widely utilized by insurance adjusters today, allowing for an expedited settlement of your claim.

    • Damage Estimate to Business Personal Property

  • Acclaim Adjustment will compile a complete physical inventory of your contents and your furniture, fixtures and equipment and establish agreements with the insurance company’s representatives as to the degree of damage and the method of repair or replacement.
  • We will determine the replacement costs of the inventory and establish depreciation, when applicable, and the actual cash value of each item.
  • Establish replacement cost values as they relate to any potential coinsurance penalties.

    • Prepare Loss of Income Claim

  • Acclaim Adjustment will formulate the loss of any time element claims.
  • We will conduct an in depth analysis of your policy language to determine how the broad language of the policy applies to your specific claim.
  • We will prepare a complete list of the extra expenses incurred which were necessary for you to manage the catastrophe.
  • We will work in cooperation with your accounting professionals to collect and organize your financial information.
  • We will reconcile the financial information, based upon your policy language, to document and present the most accurate and favorable view of your income loss to the insurance company.

    • Attend All Meetings

  • Acclaim Adjustment will attend all meetings, on your behalf, with the insurance company and any of their experts while maintaining a constant dialogue with the claim to ensure that you adhere to all policy requirements and conditions and, that the insurance company fulfills all of their obligations under the policy.
  • We will report all progress to you as it happens.
  • Our process allows you to maintain your normal schedule and activities with the assurance that your claim is being represented by a professional with your interests solely in mind.

    • Negotiation and Settlement

  • Acclaim Adjustment will negotiate the claim we prepare with the insurance company’s representative in a timely manner.
  • We will meet with you as often as necessary to provide the status of the loss and claim projections, as well as opinions and recommendations when appropriate.
  • Every offer will be presented to you with our recommendations, but the final decision on a settlement will always be yours.

    • Compensation

  • Acclaim Adjustment operates on a contingency fee basis. We are paid a small percentage by you, the insured, when you receive payment from the insurance company. We will never charge you any upfront fees and we will never be an out of pocket expense for you. Our fee percentage will be mutually agreed upon and written into our contract for services.

    • Optional Services

    Contract Bid Analysis

  • Acclaim Adjustment will work with you or your management team in choosing a contractor to repair the damaged structure.
  • We will locate and identify 1 – 3 qualified, licensed and bonded general contractors who are able to perform the reconstruction.
  • We will furnish each contractor with our agreed scope of work with the insurance company and allow them to competitively bid the job for repair, assuring an expeditious and equitable bid process.
  • We will analyze all of the competitive repair estimates and provide you with a trade breakdown of all bids. This will allow us to make an educated and informed decision as to which contractor performs your reconstruction.

    • Construction Management

  • After a contractor has been chosen through the competitive bid process, Acclaim Adjustment will maintain an active role throughout the reconstruction.
  • We will oversee the work performed by the contractor to ensure that it is the same scope of work as described in our settlement.
  • We will analyze all draw requests versus work performed to ensure that you are not “paying ahead” of your job.
  • We will attend all meetings with the contractor and the building inspectors as they relate to the building code ordinance/upgrade portion of your claim.

    • Risk Consulting*

  • Acclaim Adjustment will offer a claim adjuster’s perspective on risk management and insurance coverage, as they relate to your property, as well as other management agreements.
  • *Our advice is based on our experienced derived from the claims adjusting process, not as a result of being a certified risk manager or a licensed insurance agent.

    • Compensation

  • Acclaim Adjustment will work on either an hourly basis or accept a contingency fee for our service based upon the optional services that you request us to perform.