After a fire, you may be able to replace lost items and repair your home. However, in some cases, the damage is so extensive, that the only reasonable option would be to rebuild your home. With the assistance of experienced fire damage adjusters, you can file a total loss claim successfully and get paid enough to afford a new home for your family.
In this article, our fire damage adjusters will help you understand how to make the right choice and get started on the path of healing your trauma and looking forward to the future with hope.
What Kind of Compensation Is Available for Total Loss?
First of all, you must understand the content of your home insurance policy. In Florida, insurance companies typically use two methods to calculate the compensation amount for total loss:
- Actual cash value (ACV)
- Replacement cost value (RCV).
ACV simply means that you receive the current market value of your home, if you were to buy it today. Fire damage adjusters are usually wary of this type of compensation. If you bought the house during the real estate bubble of 2006-2007, you probably paid much more than the current value of your home. Thus, you stand to lose money.
Replacement cost value represents the amount of money you would need to erect a new home, having the same surface, number of rooms and amenities as the one destroyed by the fire.
Fire Public Adjusters Can Negotiate the Largest Possible Compensation for You
Although Florida Statutes 627.702, clearly regulate a total loss of a home, insurance companies have ways of pushing towards the cheapest option. The fact is, there is no definite authority that determines if a damaged house is a total loss or is repairable.
On the other hand, fire damage adjusters have extensive experience in negotiating on behalf of homeowners. This is why you should always hire a public adjuster to help you prepare, file and negotiate your claim.
The adjuster knows what type of evidence to collect and how to justify the demand for the respective amount. Many fire damage adjusters used to work for insurance companies; thus they know exactly how to counter their arguments.
There Is Always Hope with a Professional Adjuster at Your Side
Losing your home in a fire is one of the most devastating events in any person’s life. A house is the biggest asset most individuals own, and the place where family memories are made.
You have the right to rebuild your life and your home. Get in touch with our fire damage adjusters and let us help you prepare your total loss claim!