YOU DON'T KNOW, WHAT YOU DON'T KNOW
ABOUT PROPERTY INSURANCE
POLICYHOLDER RESOURCES CURATED BY PARKER PUBLIC ADJUSTING
When individual losses and widespread disasters or catastrophes happen, property insurance is one important component of the recovery and restoration process that can help to build and restore. However, in our work managing and resolving claim disputes as policyholder advocates, we have found that many policyholders can experience claim disputes, and may not be fully aware that the language in their insurance policy - not advertising or the ever-changing, broad opinions of friends and family - determines what is, and what is not covered in a loss. Therefore, limits of recovery and a fair settlement amount for a covered loss can be influenced long before a loss ever happens.
But there's a problem... Have you learned anything about property insurance coverage and claims from any other source than advertising?
For any product or service, it's a good idea for a consumer to be informed about the goods that they are purchasing, and laws in place to protect the public and govern fair commerce. Insurance is no exception.
We can do better than making our property insuring choices based on premium savings alone.
The links below may provide some helpful references for you. Our hope is that you feel confident to communicate and advocate for yourself if you ever have a claim, and know when and where to seek dedicated professional help if you encounter a dispute.
Disclaimer: This website is for informational purposes only. The content is not legal advice. Parker Public Adjusting does not represent any organization or government agency. Always contact a licensed attorney for legal advice.
Please read our full website Disclaimer for more information.
As part of our mission statement, we believe that informed consumers can make better insuring choices. As such, we caution against blindly purchasing property insurance based on the name of the insurance company alone, as individual insurance companies offer many different types of policies, endorsements, and riders that can dramatically affect coverage. We have seen a lot of policies that we would personally purchase that we feel would give us the coverage we want, and some policies that we've seen could have left us with large coverage gaps for some types of claims... and some of these policies have been with the same insurance company!
To us, it's not a matter of subjectively and broadly judging an insurance company as "good" or "bad". Each insurance company typically offers many different insuring products with different types of coverage, so we feel that it can be helpful to learn how to investigate which products you would prefer for your insuring needs (along with your licensed insurance agent or broker, of course!), and to be prepared for a claim if you ever have to file one.
"United Policyholders (UP) is a non-profit 501(c)(3) organization whose mission is to be a trustworthy and useful information resource and an effective voice for consumers of all types of insurance in all 50 states.
United Policyholders does not accept funding from insurance companies or insurer trade associations."*
STATE GOVERNMENT AGENCY
STATE OF MINNESOTA DEPARTMENT OF COMMERCE
The Minnesota Department of Commerce is responsible for: 1) protecting the public interest; 2) advocating for Minnesota consumers; 3) ensuring a fair, healthy and competitive marketplace; and 4) strengthening our state's economic future.
The Minnesota Department of Commerce regulates more than 20 different industries, including insurance[...]*