[Wed, July 20, 2011] In my line of work I am fortunate to meet many different people. These people purchase real estate and run successful businesses, buy homeowners and business insurance coverage and keep their insurance agent’s contact info handy in case of emergency.

They upkeep and maintain their properties and take preventive measures in case of an upcoming hurricane or storm, they dutifully contact their insurance agent when their property sustains hurricane damage or business workflow is interrupted due to office fire or vandalism, they file a claim and trust their insurance company … they don’t contact a Public Adjuster because they don’t know what a Public Adjuster does.

I dedicate this blog entry to all those property owners lacking valuable information which may one day result in a grossly underpaid or denied insurance claim. So now I will resort to some good, old advertising of my service as a Public Adjuster to inform the masses and promote questions, inquiries and emails about how I can be of help to you! After all, as the renowned advertising mogul David Ogilvy once said -  “Advertising is only evil when it advertises evil things”.

[Wed, July 13, 2011] Beautiful weather and clean beaches make Florida one of the most ideal places for people to reside in. But there's one unfortunate occurrence that happens in Florida more than any other state: sinkholes.

According to the Florida Department of Environmental Protection, Florida has the highest number of sinkholes incidents in the country and thus the most number of sinkhole insurance claims.

Florida Law requires insurance companies to provide coverage for damage caused by sinkholes. However, over the years much work has been done to re-write guidelines for sinkhole coverage. Unfortunately homeowners often fall victim when insurance companies deny their sinkhole claims or underpay the claims leaving homeowners financially stranded.

According to an article in The Herald-Tribune, insurance companies deny 85% of all sinkhole claims filed by homeowners. “While sinkhole claims have tripled over the past five years, reaching 6,741 the first nine months of 2010, the Herald-Tribune found the denial rate also has doubled. Unreported data collected by the Office of Insurance Regulation shows two out of three claims filed in 2009 and closed by late 2010 ended in no payment to the homeowner. The early denial rate for 2010 sinkhole claims was 85 percent.” Why? Because sinkhole repair is difficult and costly and the insurance company would rather make money then spend money.

During the 2011 Florida Legislative session, one of the most debated issues revolved around sinkhole insurance and, more specifically, the definition of structural damage that it causes. The new law requires carriers to offer sinkhole coverage, albeit with a much improved definition of structural damage, a two-year claims filing deadline, which was reduced from five years, and the right to inspect for sinkholes prior to insuring the risk.

Obtaining any insurance settlement at fair value, especially on a sinkhole claim, can be a complex and difficult task. What I am surprised at is the lack of action and reporting on fraud on the part of some insurance companies who deny sinkhole claims to their insured and then reverse course when the policyholder seeks professional help of a Public Adjuster.

The topic of insurance claims for property damage resulting from sinkholes is intricate and complicated. I welcome your questions and comments on this subject and looking forward to be of help with any property damage due to sinkholes. My consultation is free of charge.

In the meantime, below is a basic list of how to spot a sinkhole activity.

***Please keep in mind that some of the points below may result from faulty construction or normal wear and tear and can only be determined as a cause of a sinkhole by a licensed and experienced professional.***