Arrowhead

General Insurance Information

Substantiating and documenting all details of your loss is your job. It is not the job of the insurance company to make sure they document everything that affects your claim. They simply may not know everything about your home or business that you know (the adjuster will however document everything they have knowledge of). Arrowhead can help by providing a fully detailed estimate of your total loss. Arrowhead works for you. We are very thorough and meticulous in inspection and documentation of your property claim. The insurance company will properly pay you what you are entitled with proper proof of loss. Our experience helps clients as they often overlook items after they have been destroyed and blown away. Studies report that when owners try to document their own claims, which can be incomplete, they lose money in replacement cost proceeds.

In order to settle your claim, your insurance company will send an adjuster to your home or business to inspect damage and document his assessment. Most adjustments are accurate, but discrepancies can occur when an adjuster has not calculated the same amount of damage as Arrowhead, or when our opinion on the repairs differs from the adjuster’s. The insurance company and adjuster want you to have the proper repairs and valuation you deserve. If the adjuster’s estimate is less than ours, you may request that the adjuster and Arrowhead reconcile the differences and properly settle at an amount that is proper for the insurance company, Arrowhead as a contractor, and you as an owner. All necessary reconciliation is completed prior to commencement of repairs. Always remember that we work for you.

A lot of times, our clients just need someone to explain the paperwork to them. The depreciation holdback is standard on all claims. When you have a replacement cost policy, you are required to complete your work and file our billing statement within a standard amount of time per your policy. This must be completed with the insurance company to recover (get paid back) your depreciation amount withheld. The final disbursement made by your insurance company will include your Recoverable Depreciation held and any additional adjustments which were authorized by your insurance company’s representative.

Typically, checks are always made payable to the policyholder and their mortgage company. This is a standard policy of all insurance companies and they are required to do so if you have a mortgage on your home or business. The lender has a vested interest in your home or building and they want to know what is going on and how repairs are being completed. Every mortgage company is different. Some will endorse the check over to you to pay Arrowhead if you give them a copy of our contract and others will deposit the money into an escrow account and disburse funds as repairs are completed. You will be informed of their policy by them when you go to get the check endorsed or you will see their policy in the lending documents you signed when you completed your financing.

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