The frustrating part of hazard insurance settlements is the policyholder’s vague understanding of the insurance settlement process. The insurance adjustor will use insurance terms that need to be explained. For example: Coverage for your home under “replacement cost” Coverage for your home under “actual cash value” Coverage for your home insured to 100% of value.

As a customer learning hazard insurance was not part of getting through the settlement process. You can now see why the insurance settlements process is long, labor intensive and sometimes frustrating.

Insurance settlements are not final until an agreement is reached by the policyholder and insurance company through the claim adjuster. If you disagree with the settlement amount offered by the claim adjuster you start the negotiation process. The adjuster may make a counter-offer and so the negotiations continue until final agreement is reached.