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Ericson Insurance Advisors President Spencer Houldin on how to work with your insurance company after a disaster such as Hurricane Sandy.
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Insurance issues continue to crop up after superstore sandy ravaged the East Coast a little more than a month ago.
The industry -- -- close to a million homeowner losses -- 1250000.
Automobile losses a 150000.
Business losses.
But -- fast settlement my next guest says there are few crucial things he need to do first joining me now Spencer hold them.
President of Ericsson insurance advisors -- welcome back to the show it's always great to have you here think.
Still when you talk to people who are probably in an emotional state.
And probably not well prepared to deal with this kind of problem what do you tell them about getting a quick resolution what is step number one.
-- -- number one and any claim is obviously reported to your agent.
-- the company and hopefully you have a trust charts and an agent that you can rely on the help -- to the process because no time in more important to have that agent.
But you need to get the claimant forwarded.
We -- need to get the claim reported that you make an interest -- point not everybody has an agents chemical bite through.
-- -- online offers companies the deal virtually the net are nonexistent with agents what do those people.
Call the company makes you get a clean number and -- contact phone number because especially disclaimer we as you mentioned that million homeowners losses.
You need to be -- be proactive and call the company.
It's just there was sitting around one day handling thirty claims and now all the son has 2000 claims have you need to put yourself the -- line without adjuster.
Act quickly and of course you know we're talking about sandy most people -- filed their comp -- right.
But every day across the country there's another storm there's -- there's another fire some kind of damage that that people have to be active pro active in this case to get the right thing done.
He also say protect your property because let's face it.
The improvements are coming right away necessarily.
Absolutely keep in mind you actually that duty under the homeowner's policy to do what -- you need to do to prevent further loss so it needed TARP your roof.
If you if you can't live in your housing -- -- housing go find the housing your policy will protect you will like kind of quality housing.
Don't wait for the insurance company to tell you what to do get the scene stabilized.
And then we can work on the.
Let's say the Taj Mahal right I mean there are limits to what I can do what I needed exercise some caution obviously an understanding how much -- can spend.
Absolutely like like -- quality housing.
But you need to get yourself and your family safe and and insurance company want to do that Aaron is a contact vendors what do you mean by that -- -- -- the guy's gonna fix my house.
You are an insurance companies job is to reimburse you for repairing -- -- will certainly help you find vendors but it and that case like sandy where we have a million losses.
Go get in line find -- contractor to help you get an estimate.
Now I know this is not your specialty Spencer but a lot of people out there complaining about people trying to rip them off they're posing as contractors admitted -- -- -- their hiking up their prices.
How -- navigate that how you make sure you're not getting taken.
Well it's tough it's supply and demand and if you're down on the barrier islands.
Of New Jersey and you need somebody -- spray -- your house for mold remediation.
And there's only ten firms that do it and there's couple thousand people who need it it's going to be tough and you're gonna be -- the -- of a more organized claim for the adjuster.
Absolutely the adjuster right now is handling thousands of claims as we mentioned in the what -- they can pick first to work on the one that looks like it's a pretty book report.
Get everything together make their job BC and build a report with them they're human too this is a very stressful time for the adjuster -- easy to make their life.
The faster claim settlement we'll go sell the adjuster explain his role model that.
The justice role is to work if they work for the insurance company and they are too.
Managed to claim to pay the claim to analyze the claim they will go through all of the receipts that you present make sure they look fair.
And eventually it'll be the once a right to check.
And else to say build a relationship with -- With its just there and the world people and that if if you went to be adversarial.
It's gonna show on the into the claim that's an adversarial if they're nice if you and I -- -- I think copying.
A Little League and its shares seats -- wire and -- not been nothing or Alan brown doesn't -- That's fantastic Specter thanks for coming up on those famous award -- federal with a very integrated I think good to see a way happy new -- Merry Christmas in the thank you.
