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How Public Adjusters Can Help Calculate Coop Insurance Claims

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Cooperative living became popular in the 1920s, especially in congested cities, where affordable housing has always been at a premium. Essentially, cooperatives offer limited equity opportunities as a form of homeownership. In short, some aspects of a unit are the property of, and therefore the responsibility by, its tenant. When the resident of a unit has to submit a property damage claim, however, there are numerous considerations that are unique to this type of living arrangement. Given the bylaws concerning cooperative units, determining coop insurance claims can be daunting. Some adjusters sent by your insurance carrier may not be fully aware of, or experienced in preparing coop insurance claims. That is when the services of a leading public adjuster, such as United Public Adjusters & Appraiser, can be invaluable. In this posting, we’ll discuss how our professionals can assess your damages and accurately calculate the true extent of your damages and asset losses. We will review your property insurance policy thoroughly to make certain that your claim payout totals the amount to which you are entitled. The result will be the highest settlement your policy allows, in line with your requirements.

Most claims are calculated using a pricing guide, a software program that has been created for the purpose of determining value. Public adjusters use this software, as do the adjusters at your insurance carrier. However, the suggested amounts are standardized, and the software was designed for use by insurance carriers. So for the insurance adjuster, whatever this program tells them is the value of your damages/losses, that is the end of their search. For United Public Adjusters & Appraisers, this figure is just the beginning, as our professionals know that it is just a benchmark that will require adjustment. We know that one pricing tool aggregate will not fit all neighborhoods. Think about it – construction costs to repair a coop in Queens, for example, will not be the same as general construction costs in the suburbs. That is why our team relies on their expertise and construction industry resources among others, to prepare more detailed, and more important, accurate, estimates of damages, losses, and replacement costs. But our assistance does not stop there.

Our team will assist you to assess and document your damages/losses accurately, as well as provide guidance in preparing and submitting any coop insurance claims. We are prepared to negotiate with your carrier throughout the entire claims process. Additionally, while you may have difficulty contacting and receiving a response from your insurance company’s adjuster, we will keep after the carrier to move the process along. Our goal is to obtain the highest settlement offer possible in as short a timeline as possible. United Public Adjusters & Appraisers will additionally assist you and your family to locate temporary housing should your unit be uninhabitable for the duration. We think of everything, so you do not have to. You’ll likely have questions, and we will be glad to provide solid answers. Let’s get our business relationship started – give our team a call to schedule your confidential consultation today!


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