When your pipes burst and flood your home, what do you do? File a claim to your insurance company, of course! The repair expenses are through the roof in Florida, and an insurance settlement could make a real difference. But before that, you should understand your rights when filing a broken pipe claim. ProFloridian Public Adjusters are here to help with that!
Know Your Broken Pipe Damage Coverage
What you should know about broken pipe damage is that it can happen at any time. This even is highly unpredictable and quite damaging when it occurs. Water damage is covered by your insurance policy, but the cause (broken pipe) isn’t always covered. Depending on your insurance company, you may nor may not be entitled to a settlement.
Let ProFloridian Public Adjusters help you clarify your situation! Our public adjuster can explain the terms of your insurance contract and how to file a property damage claim. Broken pipe claims are relatively simple to solve, but it takes skill and insurance knowledge to pull them off successfully. We can obtain maximum compensation for your losses by explaining some key concepts!
There’s a “covered perils” section in your insurance policy that details the types of property damage that you can receive compensation for. Broken pipe damage falls under the water damage umbrella, and this is the most common coverage in insurance policies. You won’t find an insurance policy that doesn’t offer water damage coverage, and even an All Risk insurance policy includes water damage coverage.
That’s a good thing since you don’t need to make sure you can file a water damage claim when disaster strikes. However, the claim procedures are quite complicated. Their complexity comes from the various regulations, exceptions, and insurance terms that you have to juggle during the negotiations. Policyholders can’t be expected to be proficient at this, so a public adjuster steps in.
ProFloridian Public Adjusters is always available to help you file a broken pipe damage claim with the minimum amount of effort on your part!
RCV And ACV
When you file a property damage claim, the insurance company can choose to pay the RCV or the ACV. There’s a big difference between the two, mainly in how much money you receive in the final payout. The ACV (actual cash value) subtracts the deductible and depreciation value from the payout, and you’re left with less money.
On the other hand, the RCV (repair cost value) only takes away the deductible and doesn’t factor in the depreciation value. You will receive more money with the RCV payout than the ACV one. It all depends on your insurance policy, so reading it beforehand is a must. Our public adjuster can help you understand the key concepts of filing a broken pipe damage claim.
What About Deductibles?
Before giving you a settlement, the insurance company will often demand proof that you’ve paid the deductible. That’s the out-of-pocket expense paid to the company you hired to begin repairs on your home. It’s the only expense that the insurance company won’t cover. Instead, the insurance payout is made up of the difference between the deductible and the total repair cost.
If there’s something you don’t understand about deductibles and how they’re factored in the payout, you can ask us at any time. ProFloridian Public Adjusters is available 24/7, even on weekends. We offer free consultations for any homeowner in Florida, regardless of their issue. Our company’s goal is to help policyholders obtain justice during insurance claims!
What Is a Damage Exclusion?
When your insurance policy mentions a damage exclusion, it refers to specific types of damage it doesn’t cover. All Risk insurance policies only cover named perils while every other unnamed damage type is excluded. All insurance policies have damage exclusions, some more than others.
It’s paramount to read your insurance policy and check your damage exclusions before filing a claim. If you file a claim for an excluded type of damage, the insurance company will deny your claim. However, there are ways to avoid that. A public adjuster can prove your property damage was caused by a covered peril, in most cases.
What Do I Do in Case of Broken Pipe Damage?
In case your home was flooded because of a broken pipe, we recommend filing a broken pipe damage claim in Florida. ProFloridian Public Adjusters can help you with the procedures and make everything easier. Filing an insurance claim alone is difficult because there are so many things you don’t understand.
But with our broken pipe damage public adjusters, the difficulties disappear. You won’t be expected to do anything because our public adjuster will take care of everything. If you don’t understand something, just ask! Even if you haven’t decided to hire a public adjuster, you can get a free consultation by calling us at (954) 588-7414 or by using our online form.