Articles

When a hot tub malfunctions, the policyholder may file a claim for an expensive full replacement. Adjusters should know a little about hot tubs, their components, and their losses, before settling these types of claims.

Extreme weather shifts have been documented in the United States in recent years that have affected insurance policyholders throughout the country.

When a policyholder claims freezing conditions as the cause of loss, it’s critical to evaluate if a component failure occurred that caused the system to succumb to the frigid temperatures.

Policyholders may file claims for faulty electronics or flickering lights, particularly after hurricanes, floods and windstorms. In reality, the problem may be within the electrical service panel.

Insurance professionals shouldn’t be in the dark about how solar water heaters work and what different perils they are susceptible to compared to their gas and electric counterparts.

Examining claims processes and knowing which electronic items carry a risk can help carriers sidestep indemnity leakage pitfalls.

Holiday decorations increase the risk for new claims from a variety of different damages, some of which are covered by residential and commercial insurance policies.

Damages to appliances and consumer electronics areoften caused by high voltage surge, and adjusters should know how surge losses to high and low voltage equipment may impact potential settlements.

Adjusters find them helpful to verify that any necessary replacements and repairs are of Like Kind and Quality (LKQ) and that the settlement is in line with market values for the loss and location.

Insurance professionals and policyholders have likely noticed an increase in technology advancements, the number of people working remotely, and the amount of extreme weather that took place in 2020 and 2021.