An insurance policy is a contract between the insured and the insurance company which entitles the insured to certain rights.
As a Consumer oriented professional water damage Restoration Company, Bluewater Restoration has prepared this Bill of Rights so our customers may better understand their insurance policy in the venue of Water Damage Restoration and how it relates with the repairs the customer may undertake.
With years of experience and dealings with all types of claims, customers, and catastrophes, it is amazing how little folks understand what’s in their insurance policy. To be clear, we are not insurance professionals. As with anything relating to insurance policies, you should absolutely discuss all of these points with your agent.
We hope that you will find this information to be accurate, educational, and illuminating.
Bluewater Restoration has compiled the following information from easily obtained public domain documents solely for informational purposes only and should not in any way nor manner be considered insurance consulting, adjustment, legal advice, nor practice of law.
1. YOU MAY TAKE, AND BE FULLY COMPENSATED FOR, THE COST OF EMERGENCY STEPS TO SAFEGUARD YOUR PROPERTY FROM FURTHER DAMAGE AFTER A LOSS.
- You actually may have an obligation to do so under the terms of your policy
- The insurance company many not be liable for additional expense if you fail to provide such protection
2. IF YOU HAVE SECURED ADEQUATE COVERAGE, YOU MAY BE ENTITLED TO BE PAID FOR THE FAIR COST OF FULLY RESTORING YOUR HOME TO ITS PRE-DAMAGED (“PRE-LOSS” CONDITION)
- You may not be insured for the repair of unrelated problems, code deficiencies, or prior damage.
3. YOU ARE ENTITLED TO EMPLOY THE FULLY LICENSED AND INSURED WATER DAMAGE RESTORATION FIRM OF YOUR CHOICE.
- If you do not choose to employ such a firm, the consequences and liability for any injury, damage, or other action may rest with you
4. YOU ARE ENTITLED TO MATERIALS AND WORKMANSHIP FULLY EQUIVALENT TO YOUR EXISTING INSTALLATION AND LIKE KIND AND QUALITY.
- The insurance company has no obligation to improve your existing installation
5. YOU ARE NOT REQUIRED TO ACCEPT THE LOWEST BID. NOWHERE IN YOUR POLICY DO THE WORDS “CHEAPEST”, “LOW”, OR “LOWEST PRICE” OCCUR.
- Repair rates should correspond to prevailing standards in your area for work of good quality.
6. UNDER THE TERMS OF MOST POLCIIES, IF SUBSTANTIAL DISAGREEMENT ARISES BETWEEN YOU AND THE INSURANCE COMPANY OVER THE AMOUNT OF THE LOSS, YOU ARE ENTITLED TO REQUEST ARBITRATION.
- The restoration company also is entitled to the provision, which may be invoked at any time prior to settlement, whether or not you have received advanced payment.
7. YOU ARE ENTITLED TO RECEIVE PAYMENT FROM THE INSURANCE COMPANY WITHIN THE TIME SPECIFIED BY THE POLICY AND YOUR STATE INSURANCE REGULATIONS, WHICH ARE DESIGNED TO PREVENT INSURANCE COMPANIES FROM USING DELAY AND PERSONAL HARDSHIP TO COMPEL A LOWER SETTLEMENT.
- Be aware that the policy may also have time requirements for the policyholder within which you must prepare and submit your claim. Ask your adjuster or agent about these at the onset so that you can be in and maintain compliance.
8. AS THE POLICY HOLDER, ONLY YOU CAN DEMAND THAT YOUR INSURANCE COMPANY LIVE UP TO ITS OBLIGATIONS UNDER THE POLICY.