In August of 2020, the Midwest experienced a powerful derecho which caused severe property damage for many homes and business owners that they are still struggling with a year later. Property owners are still attempting to settle their insurance claims. The situation has been particularly challenging for the state of Iowa which has a one-year statute of limitations on property damage insurance claims. However, Iowa’s Insurance Commissioner recently released a statement warning insurance companies that they will be at risk of “bad faith actions” if they fail to grant extensions to policyholders. The commissioner released the bulletin partly because of circumstances beyond the policyholder’s control, such as labor and material shortages as well as other storms that have impacted the speed of settling these claims.
At Globe Midwest/Adjusters International, our team of licensed public adjusters has been helping policyholders with their property damage insurance claims caused by the 2020 derecho. As public adjusters, we work for the policyholder — not for the insurance company. We understand the complexities and intricacies of insurance claims such as replacing damaged property with “like kind and quality” materials, accounting for fluctuations in price for lumber and materials, and more. We will assist you with preparing, estimating, negotiating, and settling your insurance claim so you receive the settlement you deserve. We will streamline the process to help get your claim settled fast so you can get back to business and life sooner.
Contact us today for help with your derecho property damage insurance claim. Globe Midwest/Adjusters International, the right way to settle claims.