The Insurance Industry Knows You’re Underinsured

June 13, 2022
Home / / The Insurance Industry Knows You’re Underinsured

Many homeowners assume that purchasing an insurance policy means they’re fully covered in the event of property damage or catastrophe. Unfortunately, this is rarely the case, and your insurance company knows it.

Your Insurance Agency IS NOT Working for You

In most client-provider relationships you would expect the provider to assess your needs, recommend an optimal product/service to address those objectives and point out any scenarios that may affect your personal or fiscal well-being. That isn’t how things happen when you select and renew your homeowner’s coverage.

A new study, commissioned by the insurance industry’s own lobbying arm, clearly states that most policyholders are underinsured, which can lead to significant financial consequences for homeowners.

A majority of insured homeowners across the country have not taken important steps to ensure their insurance coverage is keeping pace with rising inflation, including increased building costs and potential reconstruction delays due to labor or materials shortages, which could leave policyholders underinsured if catastrophe strikes.”

The study reinforces SunPoint Public Adjusters’ primary message – your insurance agent, claims adjuster, and parent company ARE NOT serving your best interests. The insurance industry is leaving it up to you as the policyholders to do the research, know your coverage levels, keep up with construction costs, etc. even though they acknowledge that most customers do not understand the products they are selling.

Strategies to Maximize Your Insurance Coverage

First, since your insurer isn’t going to reach out to you, make sure you initiate an inquiry into the specifics of your coverage including the types of guaranteed replacement costs that are available.

Next, If at any time you experience property damage requiring a claim, work with an experienced public adjuster like SunPoint Public Adjusters, Inc. A public adjuster is on your side, ready to take on all the complexities associated with examining policy coverage, navigating the claims adjustment process, and disputing/resolving delayed and/or underpaid claims.

SunPoint Public Adjusters, Inc. Advocates Only for the Insured’s Benefit

SunPoint Public Adjusters, Inc. (“SunPoint”) is the “Gold Standard” of the Public Adjusting industry. We comprehensively review and evaluate your insurance settlement, immediately deploy a team of specialists to assess and quantify your damages, and customize a strategy around your personal recovery to promptly and properly maximize the resolution of your claim.

Our in-house experts and external veteran professionals are experienced in quantifying and negotiating building, personal property, inventory, or other additional coverages. We work solely on your behalf to favorably resolve your claim. Our team ensures your insurance company does not delay, diminish, or deny benefits that are rightfully owed to you. Industry authorities agree that having a public adjuster like SunPoint on your side early in the process expedites and maximizes your recovery.

Policyholders have been benefiting from our knowledge and advocacy for decades. We have handled, managed, and successfully navigated claims ranging from homeowner losses; corporate losses in the hundreds of millions of dollars; disaster losses involving government entities and entire municipalities; agricultural and recall losses, and virtually any type of disaster claim that could be imagined.

Our team of Public Adjusters, building cost consultants, inventory specialists, forensic accountants, and equipment consultants are unmatched in our industry. It is easy to be big. But it takes dedication every day to be the best – we have that dedication. Our goal is aligned with yours. To obtain a free insurance settlement assessment of your specific circumstances and recovery please contact us to strategize your optimal means of recovery.