hazard insuranceThe insurance settlements on hazard insurance policies can be long, labor intensive and sometimes frustrating. The insurance settlement is a conclusion for the insurance adjuster and the insurance policyholder on a payout amount.

Getting to the final payout amount requires the matching of damaged property value with the coverage limit of the policy. Simple, right!!? Wrong!!

The long process of the hazard insurance settlement begins. The adjustor begins the settlement process by showing how much your policy limits can pay for the damage to your home. The next step in the process is estimates are made to determine the extent of damage. The adjuster provides an estimate supported by a contractor. This estimate is presented to the homeowner to verify what needs to be repaired.

The labor intensive part of a hazard insurance claim is the policyholder compiling the list of personal items that now needs to be replaced. The hardest part is remembering all of your belongings. Writing the list is hard work. The adjuster will assist by giving a format guide. This list of damaged property starts the process for valuing the personal property payout.