"Many people short themselves and don't know it," said Carlos V. Freyre, managing director of MySmartClaims.com, referring to the fact that homeowners may accept settlement amounts that are inappropriate because of lack of resources.
Traditionally, homeowners have been somewhat limited in their options in negotiating claims. They could either accept the carrier's estimate or hire a third party, such as a public adjuster, which typically charges between 10 and 40 percent of the recovered amount. However, Florida-based MySmartClaims.com offers a new estimation tool to help homeowners determine if the insurer's price is right, without seeking outside assistance.
The tool does not require special training to employ successfully. In fact, the average procedure takes about one hour. Each homeowner need only have Internet access and the information provided by the insurance company to answer a set of questions. The service then analyzes the estimate; calculates the true cost of restoring the property, which is based on industry-standard expenses for time and materials categorized by zip code anywhere in the U.S.; and provides forms that consumers can then use to recover more money.
According to the company, this service is especially useful following damage claims for events such as kitchen fires, broken pipes, or strong winds, and for those reporting losses after hurricanes and other catastrophic events.
Users of the software can see a measurable difference, as the company reports that the average homeowner will typically get back three to four times more money for the same damage.
"This enables homeowners to legally re-submit a claim up to five years after the date of loss," Freyre said. "They need not worry about insurance rates rising due to challenging or reopening the claim."
There is a fee associated with the service. However, MySmartClaims.com guarantees that users will recover more than the cost of its service or the fee is refunded. The company is also quick to add that the price for its service is significantly less than the cost of contracting a public adjuster.
For more information about the service, check out www.mysmartclaims.com/.
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